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BIGN - O&G company with a bad name. May be signing aquisition contract by 8/31, and currently has existing natural gas wells.
http://www.investorshub.com/boards/board.asp?board_id=2878
BIGN - Major oil contract next week beside existing natural gas wells
BIGN - Major oil contract next week beside existing natural gas wells
BIGN - Major oil contract next week beside existing natural gas wells
BIGN - Major oil contract next week beside existing natural gas wells
Four business days or less.
Enjoy the cruise!
I've added my last shares. All thats left to do is wait and see what happens.
Any chance that the LOI has been signed and they are working on PRs?
BIGN is #1 on IHUBs active stock list.
At least they didn't say 'We are doing out best to report by Aug. 31'.
I haven't had any luck finding Success Oil Companies website, but I did find an article about a Tornado hitting a refill station, in 1940! If its the same company there should be some very experineced personnel working with BIGN and WWNG. Not an interesting read, but it show that they have been around for a while.
http://www.chaffeehistory.com/Archives/Tornado_1940.htm
When they PRs come I hope the mention that they are currently a profitable company. I don't think it's widely known. I haven't done this, but I bet that if I went through all their PRs for the last year I wouldn't be able to tell that they are profitable. Could be another reason why their PPS is low.
OK folks. I'm dropping a check off at the brokerage for one last add tomorrow lunch time, don't push the pps up too high. :)
no sales, one buy at .021.
Zero volume on ScotTrade also.
Rig response from BIGN:
QUESTION: Can the rigs that the company is getting from the East Texas LOI be used in Grimes?
ANSWER: We will announce all acquired assets when the LOI's are concluded. We are pursuing such necessary equipment.
I asked this via the webform on their site.
I think your right.
It's a different one, but the same one that came from WWNG about a week ago. At that time there was no comment about BIGN interest.
news
TYLER, Texas, Aug 23, 2006 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN) announced that WW Oil & Gas Inc. has signed a letter of intent and forwarded a initial deposit to acquire the oil and gas lease rights to properties located in East Texas. Biogenerics Limited shares a 50% interest with WW Oil & Gas Inc.
The LOI, which was initiated in early August 2006, calls for the acquisition of the Tubb Lease Oil and Gas Project, located in the Crawar Field in Ward County, Texas. WW Oil & Gas has since added two additional oil production properties to be included in the LOI agreement. The properties are located in the Gray Gulch field in Borden County, Texas.
The Crawar Field has historically been a prolific producer of oil and gas. Nearby leases are owned by Chevron and Amoco among others. In particular, in October of 2000 Chevron re-completed a well 1,200 feet from the location of the first planned re-completion well. The Chevron re-completion well is still currently producing at approximately 28,000 mcfd of gas per month. The same geological structure and pay zones as found in the Chevron re-completion well exist in several areas of the Tubb lease, including multiple wells for re-completion and grass-roots wells. At $70 per barrel of oil and $7 per mcfd of natural gas, estimated reserves of the Tubb Lease Oil and Gas Project exceed $60 million on a total mineral reserves cash basis.
The first recently included property, "Kloh #9," produced 312.6 BBLS of oil per day with 261 mcf natural gas per day in past production testing. The second property, the "Gray" has previous production tests showing 220 bbls of oil per day with 57.7 mcf natural gas per day. With 240 acres and multiple pay zones, WW Oil & Gas is planning to maximize these properties to their full potential.
Biogenerics partner WW Oil & Gas Inc. has committed to commence work on a first well for re-completion in early September. It is likely that the initial work over of the well will produce up to 1400-1600 bbls of oil per month.
Thanks Cardinal. If the LOI goes thru I imagine there will be a lot of shareholder questions. We should probably ask for a shareholders con-call.
Is it unusual for an NG drilling operation to run 3 shifts 24 hours? Just curious.
2 million shares in 4 minutes but the ask is back up to .02.
4.3 million in volume, why the sales.
I agree, the relationship with WWNG isn't clear to me anymore. BIGN no longer co-annouces PRs like they used to. Maybe BIGN is only involved in the PRs it had announced in the past.
If that's the case it's fine with me, BIGN has enough on it's hands with Grimes and the 3 LOIs.
If you have read any of my posts you would know that I dont pick fights with anyone on this board.
One more clown to put on my iggy list.
Adios,
Flush.
Earlier you said that your were here to inform us. Now your just bashing. What is your point?
double post.
I think the LOI will go thru.
Maybe the longterm potential if Grimes is bigger than the longterm potential of Eastern Tex. If the CEO was given a piece of the pie in Grimes it may work out for him. He'll be on the board for 2 years.
I'm probably wrong but I think I remember reading somewhere that shareholders of Nevada pinks dont have a right to vote on issues.
Hopefully BIGN will get what their looking for in the next couple of weeks and sign HSC to a long term contract.
IW -
Maybe BIGN is overly cautious, or maybe not, but your experience with them may explain why their PR department is hard to get information from.
thanks again for the info.
Futrcash, if it's not proprietary do you know if HSC has been slotting a lot of wells other than for BIGN? I'm wondering if they have gained more experience since they slotted 1 and 2.
TIA
IMO if they can get one well working right other wells will follow. I feel good about the LOI going through. One or the other will get us started.
Futr, thanks for informing us about what you learned, it is very much appreciated.
IW, thanks for the info. I sent them a question regarding the versatility of these rigs. If I get a response I'll post it here.
GLTA!
One of the PRs mentioned the difficulty of being able to get rigs in a reasonable amount of time. Do you know if WW, Rubicon, and Tyche have rigs to work the various leases for BIGN?
When I re-read the PRs I'm just as positive now as I've been in the past. IMO the only thing that has changed is the time frame. I believe the major LOI will be signed.
The East Texas company has existing oil revenues of $6.5MM/yr. based on 275 bbls/day. According to the PR it has workover rigs and drilling rigs (at least 2 of each I guess), plus personnel.
When the deal is done BIGN becomes a $6.5MM company without Grimes.
If Grimes goes well then it's $10MM+ based on 4 wells.
As the PRs mentioned, these revenues will be in the 4Q financials.
Three is less than two weeks to go.
They pushed it down to .0195 on a $62 order and to .019 on a $19 order. MMs are playing games.
It's hard to tell, but important news should come from Futrcash by tonight.