TORONTO, Dec. 16, 2005 (PRIMEZONE) -- Tyche Energy, Inc., a subsidiary company of Biogenerics Limited (Pink Sheets:BIGN), announced today that effective immediately, Jean Claude Bonhomme will serve as Tyche Energy's Chairman of the Board. Mr. Bonhomme, presently Tyche's Executive Vice President, was elected to the position at the Company's recently held annual shareholders meeting.
Commenting on the appointment, Paul Smith, Executive VP of Biogenerics, stated, "Tyche Energy, Inc. is committed to building a strong, experienced and results-oriented team of petroleum professionals. The appointment of Jean Claude to Board Chairman adds incredibly to this objective. His vast petroleum related experience in and around the Ontario region will be of great benefit to all Tyche stakeholders as the company continues to execute its' comprehensive drilling and exploitation strategy."
Mr. Bonhomme is an experienced oil and gas executive having over 25 years experience in the Ontario oil and gas industry. Prior to his position with Tyche Energy, he was the founder and President of Tipperary Resources Ltd. an independent oil and gas producer and predecessor of Paladin Petroleum Corporation. Paladin Petroleum Corporation, formed in 1983, amalgamated with several public and private oil and gas companies to form PPC Oil & Gas Corporation. Mr. Bonhomme served as President of PPC until 1987. Mr. Bonhomme has been involved in numerous public companies since 1987 including Explorers Alliance Inc. and is currently President, Bonclau Holdings Inc.
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 Tyche Energy, Hydroslotter Corporation and WW Energy Inc.
About Hydroslotter Corporation
Hydroslotter Corporation's proprietary technology deemed "hydroslotting" increases oil and gas production and extends commercial productivity of oil and gas by 300% to 600%.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. Information on the factors which could affect the Company's operations or financial results are included in the Company's reports on file with Canadian securities regulatory authorities and the United States Securities and Exchange Commission. Forward-looking statements are based on the estimates and opinions of the Company's management at the time the statements are made. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.