TYLER, Texas, Oct. 3, 2006 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) announced that its subsidiary WW Oil & Gas Inc. has completed the purchase of 32 oil wells located in Oklahoma. WW Oil & Gas Inc. acquires 2 oil-producing wells and an additional 30 wells for re-completion. The assets were purchased with cash and shares.
Biogenerics' subsidiary expects to re-work on an average 2 oil-producing wells per month located on the 120 acres of property in Oklahoma.
Additionally, Biogenerics subsidiary Tyche Energy Inc. also announced that they have completed a purchase to obtain 8 oil wells in Oklahoma. This signals Tyche Energy's strategic intention to pursue a significant position in the U.S Oil & Gas industry.
Biogenerics Limited updates that it continues to work on the closings of LOIs announced in the August 31, 2006 press release.
Website: http:/www.bignltd.com
About Biogenerics Limited
Biogenerics is a diversified investment venture capital firm focused on exploiting and distributing domestic oil and gas reserves. Biogenerics also has joint venture activities with WW Energy, and Hydroslotter Corporation.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.