Diversified Oil and Gas Holdings (DVFI)

[Ajor1]

California well (Grimes)
TORONTO, Jul 05, 2005 (BUSINESS WIRE) --
Biogenerics Limited (OTC:BIGN), today announced that its partner, Hydroslotter Corporation reported that several open flow tests on its target well in Northern California have determined conclusively that initial production will exceed 800 million [corrected later to 800 thousand] cubic feet per day (MCFD). With gas prices at approximately U.S. $7 per cubic thousand feet, the initial production would garner gross revenues in excess of $5,600 per day or $2,044,000 per year.
Shut-in pressure prior to the open flow tests was above 3400 pounds per square inch (PSI). During the eight-hour tests, the open flow pressure stabilized at 975 psi and 800 MCFD gas flow, using a 12/64-inch choke. On a 16/64-inch choke, the open flow pressure stabilized at 650 psi, with gas flow above 1000 MCFD. Gas samples taken by PGE indicate that the natural gas is clean and has high-BTU quality.
"We are excited about these results because we have taken a difficult well that was shut in for over twenty years and was also a candidate for plugging and abandonment, and we are putting this well online at commercially viable rates," said Gary Kelley, Chief Executive Officer. "Using new technology, we have found large amounts of gas in previously believed barron areas. The Company will be actively seeking distribution partners our producing wells."
"In addition, hydroslotting, the wave of the future, has resulted in gas production that other technologies either could not achieve or have been unable to access. For example, in another well close to the target well, jet perforating fifty (50) feet of productive formation resulted in 200 MCFD. Hydroslotting only fifteen (15) feet of the same zone in our target well has achieved preliminary results that are four to five times greater."
http://www.bignltd.com/pr/200507052.html
Link to mistake correction: http://www.bignltd.com/pr/20050707.html

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TORONTO, July 26, 2005 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News), today announced that their strategic alliance partner, HydroSlotter Corporation, has completed the pipeline from the California well to the meter site.

Additionally, the meter station has been completed
and well is expected to commence production when the final checks on both the pipeline and the meter station have been completed.
Well tests demonstrated production of 1,000,000 cubic feet of gas per day.
Upon initiating flow,
following the requisite tests,
the Company will perform a full production test
and reserves will be assessed.
Biogenerics will receive 80% of the revenue from the sale of natural gas, until the Company recovers its initial investment and
henceforth will receive 40% of the revenue for the life of the well.
``We are pleased to be at the meter site and thus, extremely close to producing revenue in record time,'' stated Paul Kelley, CEO.
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TORONTO, Aug. 23, 2005 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) today announced that the Company has signed agreements on four additional gas wells in California for which exploration will begin immediately utilizing the hydroslotter abrasive hydrojet perforation technology…
``Initial results of our recent drilling exceeded 1,000 mcf per day…
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TORONTO, Oct. 11, 2005 (PRIMEZONE) -- Biogenerics Limited's (Other OTC:BIGN.PK - News) strategic alliance partner, Hydroslotter Corporation, announces initial production numbers for the month of September…
The Grimes, California well which has been shut in for the past twenty years was re-opened in June using Hydroslotter's new advanced recovery technology. For the month of September, the well produced 14.4 million cubic feet of natural gas (14,400 MCF), which was sold for an average price of $10.00 per MCF. It is anticipated that a final technical review meeting will be held by mid-December 2005 at which time a firm date or the workovers will be decided.
The workovers are tentatively scheduled back-to-back from January 8th to January 22nd, 2006.
Each workover will require three days, with two days of slotting and one day in between to re-rig the drilling apparatus.
…Paul Smith, senior VP of Biogenerics Limited stated that, ``Each of the four wells identified should produce as well, if not exceed the production rate, of the first Grimes well.'' …
…To date, half of Biogenerics' investment was recovered in the first month of production and upon payout, Biogenerics will share the revenues equally with Hydroslotter.
http://www.bignltd.com/pr/20051011.html
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TORONTO, Oct. 13, 2005 (PRIMEZONE) --…
The Grimes, Calif. well was successfully reopened after a 20-year shut-in in June using Hydroslotter's new advanced recovery technology and has produced 14.4 million cubic feet of natural gas (14,400 MCF), which was sold for an average price of $10.00 per MCF for the month of September. Pacific Gas & Electric will release the official September figures in mid-October, which are expected to vary from the unofficial figures by a fraction of a percent…
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NEW YORK, Oct. 14, 2005 (PRIMEZONE)…For example: The current Grimes, Calif. well, now in production, is forecasted to have a life of 5-10 years. Four additional wells are being slotted in conjunction with the Grimes, each at 5-10 years. The costs and time to slot four wells is 10 to 14 days and will have a 25% reduction in outsourced service charges.
We expect each of our five wells to be tied into the same meter site and expect combined flow at 2,500,000 MCF.
The projected cash flow will cover expenses in 30 days. We then receive net 40% of the flow after costs are repaid. That would register at US$10,000 per day…
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TORONTO, Oct. 20, 2005 (PRIMEZONE) --…
Biogenerics estimates their breakeven on a $200,000 hydro-slotted re-completion to be in the 30 to 60 day range based on several projects like the recently announced Grimes, CA gas well that flowed 14,400 mcf (1 mcf = 1,000 cubic feet) in its first month. At recent gas prices of $10 per mcf, this well produces approximately $140,000 in cash flow per month, of which 40% or nearly $60,000 per month (after payback of hydro-slotting cash outlay) is realized by Biogenerics after royalty payments and expenses….
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TORONTO, Nov. 30, 2005 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) confirms that its joint venture partner Hydroslotter Corporation is now prepared to begin the process of working over four additional gas wells on the Grimes, California property.
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Biogenerics Limited, a Nevada-based investment firm, and Hydroslotter Corp., of Toronto, Canada, have entered into a joint venture to drill a gas well using Hydroslotter’s proprietary abrasive hydrojet perforation (or “hydroslotting”) technology.
Hydroslotting is a proprietary completion process that increases permeability near the well bore by transferring near-wellbore compressive stresses away from the well bore and into the formation, thereby increasing production flow. The process consists of two steps. In the first step, two 180?-phased slots are cut through the casing, cement and deep into the formation.
In the second step, a proprietary remedial chemical reagent is pumped through the slots throughout the near wellbore zone.
The project well for the joint venture is located in the West Grimes field, in the Sacramento Basin, in Colusa County, Calif. The well, now shut-in, was originally drilled in 1986 and encountered gas pay in one of many intervals in the Forbes formation, originally producing 380 MMcf from only one zone. Analysis has shown that large quantities of gas remain behind some of the five different zones where Biogenerics will focus its attention.
E&P net.com
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