Sounds like an Adams motor type project to me.
Plenty of stuff on the internet about these
regenerative permanent magnet assemblies.
I have read up on these things,
and i feel there may be something in it.
Some of the results that are claimed give higher
than expected efficiency results.
I dont expect you will get figures over unity
(over 100 %) but you may get results that are
interesting.
over 100 per cent would mean you have some to spare,
for recharging or showing some 'free energy'
http://www.geocities.com/CapeCanaveral/Lab/1287/adams/adamsall.htm
Best of luck with it. John