BIO-Genex Laboratories Inc (BGNX): My my my. It looks as if at least one o...

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janice shell

Re: mikesharen post# 183

Friday, 04/18/2008 5:30:56 PM

Friday, April 18, 2008 5:30:56 PM

My my my. It looks as if at least one of PROL's assets has made its way into Pearlie's new venture, GreenGold Ray (current ticker WRII; soon to be changed):

From the first GreenGold PR:

GGRE currently controls through joint venture agreements, approximately 3,000 hectares of land in Mindanao Island and 300 hectares in Batan Island of which Jatropha seedlings have been planted. GGRE is now preparing the 3,000 hectares of land as GGRE's Jatropha Plantation. Another 10,000 hectares are in the process for acquisition in Bukidnon, Mindanao Island.

http://biz.yahoo.com/iw/080411/0386005.html

From a PROL PR dated 31 December 2007:

PhilOil has selected a 3-hectare nursery site in Batan Island owned by Mrs. Conchita Ebuenga suitable for planting 775,000 Jatropa seedlings at an initial cost of $12,500.00 for the first four months of cultivation. The seedlings will be transplanted to a 300-hectare Jatropa plantation in Batan Island, for which a memorandum of agreement with the lot owners has been completed and signed. Estimated total cost of cultivation of the plantation to maturity (approximately 7 months) is estimated at $375,000.00 with no major soil amendments or fertilizer requirements anticipated. Jatropa seeds will be converted into Diesel fuel using special equipment estimated at $20,000. Rate of return on the project within the first three years is estimated at 0.90 to 1.8, depending upon the yield of the plants. The plants reach full production in approximately three years, and continue at full production for approximately 50 years. The government of the Philippines is supportive of private efforts toward jatropa biofuel production; it emphasizes, however, that only idle land is to be used for the planning of jatropa and land currently being used for food crops are not to be allocated to jatropa production. PhilOil technical personnel will attend training in February 2008 concerning propagation of jatropa and extraction of Diesel fuel from the seeds.

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