TYLER, Texas, July 20, 2006 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) announced today that the company has come to an agreement with a "state-of-the-art" oil and gas recovery company. Recognizing the demand of an energy thirsty-nation, Biogenerics has forwarded in good faith an initial investment to procure the deal.
Every oil producer's goal is to achieve increased oil production with the least amount of cost possible. By using nitrogen and carbon dioxide gas injection units to "pump up" and re-pressure wells, this proven technology is able to significantly increase oil output from these assets. There is a great need for enhanced oil and gas recovery among independent producers. By introducing this diverse method BIGN now possesses the ability to work a large percentage of wells that are in production that do not hold the characteristics to accept a hydro-slot technology.
James Lancaster, CEO commented, "The (N-C02) method will compliment the company's standing in the industry to now handle well production enhancement in all areas of the oil and gas industry. This broadens our ability to expand our endeavors while potentially strengthening the company's financial position."
Biogenerics will work closely in the "field" along with this (N-C02) oil and gas recovery technology and follow up on all results and any other pertinent developments.
Further details regarding this agreement will be released as they become available.
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 Tyche Energy and Hydroslotter Corporation.
Forward-Looking Statements
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