Diversified Oil and Gas Holdings (DVFI)

[Fishing at Surfside]

NEWS

TYLER, Texas, Feb 27, 2007 (PrimeNewswire via COMTEX) -- Biogenerics
Limited(PinkSheets:BIGN) Board of Directors is pleased to report that its due diligence has been completed on the Central Louisiana Oil Field reported in its January 22nd Press Release.

The Company's independent's engineer report has verified reserves on the lease of 1,080,970 bbls/oil gross reserves, and this transaction was based on an initial reserve analysis of 880,000 bbls/oil gross reserves. This results in over 200,000 bbls/oil gross reserves more than expected and the purchase price is not changed with this finding. In addition, the Company's management was present at the recent re-opening of the initial 10 wells of the 27 total wells that have been retrofitted with the new Grundfos down-hole submersible pumps. The expectation of these pumps was to increase production on a low maintenance cost basis. The results were these 10 wells increased in production by 25%, and now the expected monthly production from the entire lease is projected to be over 4,900 bbls/oil/month. The Company now projects that this transaction will result in net operating revenues annually of over $2,000,000 before the transactional costs of this opportunity.

The Board of Directors expects the Central Louisiana transaction to close in the second quarter of the calendar year.