Diversified Oil and Gas Holdings (DVFI)

[Peak Oil]

WWO&G has 400,000,000 authorized shares,

according to the Nevada Secretary of State:

https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/
corpActions.aspx?lx8nvq=QEwprnm0YZSBKfn59v1gPg%253d%253d&CorpName
=WW+OIL+%26+GAS%2c+INC.

And as we know, BIGN has long owned 50% of WWO&G along with WWNG's 50% share. So that is 200 million shares each.

The recent divy of 1 share of WWO&G for every share of BIGN equals 19.8 million shares or 10% of "one or the others" holdings:

Biogenerics Limited Shareholders to Receive Special Dividend From Subsidiary WW Oil And Gas Inc.
December 11, 10:54 am ET

TYLER, Texas, Dec. 11, 2006 (PRIME NEWSWIRE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) announced that its shareholders will be receiving a special dividend gifting from its subsidiary, WW Oil and Gas Inc. Biogenerics' shareholders who hold shares as of January 2, 2007 will be eligible for the special dividend. The shares will be payable on January 30, 2007. This special dividend represents 10% of WW Oil and Gas Inc.

Plus, WWNG shareholders got 1 share of WWO&G for every 25 shares of WWNG. This also represented another 10% of WWO&G shares:
http://biz.yahoo.com/pz/061211/110201.html


So apparently 40 million shares have been given to shareholders of BIGN and WWNG. But why is this called 10% of WWO&G in each of the PR's when it is only 5% of 400 million A/S?

Unless it is all a mistake, all 40 million shares must have come from "one or the others" half (200 million share) in order to be 20%.

Looking at the PR's, it is not clear at all WHO is gifting the Shares-but the ratio implies that the giver only owns 200 million shares:

12/11/06 WWNG PR: "...This special dividend represents 10% of WW Oil and Gas Inc. which is a subsidiary of WW Energy and is not a publicly traded company."

TYLER, Texas, Dec. 11, 2006 (PRIME NEWSWIRE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) announced that its shareholders will be receiving a special dividend gifting from its subsidiary, WW Oil and Gas Inc. Biogenerics' shareholders who hold shares as of January 2, 2007 will be eligible for the special dividend. The shares will be payable on January 30, 2007. This special dividend represents 10% of WW Oil and Gas Inc.

Maybe BIGN gave 10% of its interest in WWO&G to its own shareholders and WWNG did the same.

So what's the point?

WWO&G is not a publicly traded company. But it is "in charge" of the 30 Oklahoma wells (with various interest in them by Royal, BIGN and WWO&G) and it does own a drilling rig.

If it turns a profit, are all the profits retained in the company? Or can a cash divy be issued to the shareholders of this non-trading company? OR, if WWO&G is sold, the purchase price will be divided up according to the shares owned. Would the "purchase price" be cash, shares of the acquiring company or a combination of both? In any event, who would want to own all of WWO&G? Royal? Tyche? Who ever bought WWO&G would have to make a tender offer.

Why did BIGN and WWNG give away their interest a combined 20% interest in WWO&G?


Bottom line, the venture capitalists own most of BIGN
and is this a way to shift some form of future value to the VC's and incidentally to us?The VC's stand to gain the most since they own most of the 376 million shares of BIGN. Plus if this increases the value of publicly traded shares in WWNG and BIGN, the biggest shareholders could sell those companies traded shares even if there is no buy-out or cash divy of profits from WWO&G.

It is all a mystery! Real "wormwood"...as Waverider said. Maybe tomorrow will shed some light on this mystery. I guessed tomorrow would be a day of revelation. Will the fates cooperate?