SOURCE: Wall Street News Alert

Wall Street News Alert

November 12, 2009 08:33 ET

Pre-Market Trade Alert: PrimeGen Energy -- November 12, 2009

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL--(Marketwire - November 12, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), JPMorgan (NYSE: JPM), Valero Energy Corporation (NYSE: VLO) and Transocean Ltd. (NYSE: RIG).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that that the drilling operator of the Timan-Pechora Project has reported that the drilling of Kochmesskoye # 7 well has reached total target depth October 26, 2009.

PrimeGen will be advised as to the commercial viability of the well and productive oil flow rates upon the completion of testing, which is anticipated by November 16, 2009. The well is the seventh of a proposed development program targeting a minimum of 30 oil wells to be drilled. As part of the accelerated drilling program, an eighth well is scheduled for immediate drilling shortly after the results of the seventh well are announced.

The Company achieved total average daily production of 7,720 bpd during the month of October. The lowest production was 2,050 bpd on August 2, 2009 and the highest production was 8,150 bpd on October 19, 2009. When fully developed, the Timan-Pechora field could yield a daily production rate of 35,000 barrels per day. According to the release, using current pricing for Timan-Pechora crude oil, PrimeGen has now projected that the 6 wells have generated over $35.4 million in revenue or $192.6 million on an annual basis. Currently, oil at Timan-Pechora has been priced at over $70.00 per barrel.

In addition, PrimeGen would like to advise that it has met the necessary disclosure criterion and has received a "Current Information" status with Pinksheets.com. The Company filed necessary financials and other corporate information with PINKSHEETS, which provides transparent information about the Company. PrimeGen will continue to adhere to these transparency requirements to maintain itself as a "Current Information" tier quoted entity.

This week the company also reported that as part of the recently previously announced acquisition on March 31, 2009, of a 100% interest regarding an oil and gas project in Rodnikovskogo, Russia, the operator, Seneko, has notified PrimeGen of their mobilization of equipment for the commencement of drilling within the participatory lands. The well has been titled as the "Rod 10-21" and is scheduled for immediate drilling with preliminary results anticipated within one week from commencement. The operator has advised that the equipment is currently on its way to the targeted location and drilling will begin shortly.

The stock closed yesterday at around Nine cents a share.

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JPMorgan (NYSE: JPM) up 0.3% on 32.6 million shares traded.

JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries.

Valero Energy Corporation (NYSE: VLO) up 0.9% on 9 million shares traded.

Valero Energy Corporation is a Fortune 500 company based in San Antonio with approximately 22,000 employees and 2008 revenues of $119 billion.

Transocean Ltd. (NYSE: RIG) up 1.5% on 3.8 million shares traded.

Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide.

Market Commentary:

Gold hit a new record, as the dollar continues to weaken. Gold futures for December delivery jumped to as high as $1,119.10 an ounce on the New York Mercantile Exchange in Wednesday morning trading.

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This profile is not without bias, and is a paid release. WSCF has been compensated for dissemination of company information on behalf of one or more of the companies mentioned in this release. For current services performed for PrimeGen Energy Corporation (PINKSHEETS: PGNE), WSCF has been compensated Five Million shares (One Million shares for current services and Four Million shares for previous services), by a third party, NorthStar Capital Corporation, who is non-affiliated and may hold a significant position in the stock. WSCF holds Seven Hundred and Fifty Thousand of those shares as of this release, and intends to immediately continue selling its shares as this release is being circulated. WSCF may receive additional compensation for extension of its services. Any additional compensation will be disclosed at such time that WSCF is aware of a client's desire to extend the original services. WSCF may have received shares of a company profiled in this release prior to the dissemination of the information in this release. WSCF may immediately sell some or any shares in a profiled company held by WSCF and may have previously sold shares in a profiled company held by WSCF. WSCF's services for a company may cause the company's stock price to increase, in which event WSCF would make a profit when it sells its stock in a company. In addition, WSCF's selling of a company's stock may have a negative effect on the market price of the stock.

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