FARMINGTON, N.M., June 1, 2006 (PRIMEZONE) -- WW Energy Inc. (Pink Sheets:WWNG) announced today that its 50% owned subsidiary, WW Oil & Gas, has authorized management to issue a Letter of Intent (LOI) for the purchase of 1,000 acres of oil/gas lease land. The lease land will include 48 producing gas wells generating 1,200 mcf/day of gas averaging 25 bbls/oil per day in condensate quality.
The transaction includes a 35-mile pipeline with all right-of-ways which connects to a major trunk line for the sale of the operation's daily gas production. The pipeline is also used to collect, on a fee basis, gas from six other producing gas fields in the area.
James Lancaster, Biogenerics' CEO stated, "The monthly revenue stream is estimated to be over $270,000 per month from this property. Upon completion, the deal will provide the personnel to manage, drill and rework the other well sites on these properties which will in turn maximize the production revenue of future explorations projects."
About WW Energy, Inc.
WW Energy Inc. is a holding company that was created to acquire oil and gas service companies as well as oil and gas related assets through two wholly owned subsidiaries.
WW Oil & Gas Inc., established in 2005, is in the business of acquiring leases and oil and gas related assets. Such acquisitions are for the purposes of development, exploration, and exploitation. The company currently has two exploitation projects encompassing three oil and gas leases in the San Juan Basin area of New Mexico. Comprehensive drill programs are being developed for full exploitation of these projects. ConocoPhillips, XTO Energy and British Petroleum are among those companies active in the San Juan Basin.
WW Trucking Inc., formed in 1999, is a leading oil and gas services company for the oil field services industry in Utah, Colorado, New Mexico and Arizona (The Four Corners Area). Their existing business operations are in transporting fresh production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results of WW Energy Inc. may achieve could differ materially from any forward- looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.
Web Site: http://www.wwenergyinc.com/