SOURCE: Wall Street News Alert

Wall Street News Alert

August 18, 2010 08:38 ET

Wall Street News Alert: Stock in Focus: Proper Power and Energy -- August 18, 2010

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

WESTON, FL--(Marketwire - August 18, 2010) -  Wall Street News Alert's "stocks to watch" this morning are: Proper Power and Energy, Inc. (OTCBB: PPWE), Exxon Mobil Corporation (NYSE: XOM), The Mosaic Company (NYSE: MOS) and Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX).

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Yesterday, Proper Power and Energy, Inc. (OTCBB: PPWE) issued a press release announcing that it released elected results from an independent study of seismic data on its oil and gas leases. The Company commissioned Howard Dunn, P.E. Chem, B Sc. G.E., M Sc. MT E of Meridian, Idaho to review raw seismic data that Proper Power purchased from an independent source.

The interpretations made by Dunn concerned a body of older seismic velocity stack trace image. The opinion is a review of the interpreted subsurface geological structures. The expected purpose of Proper Power's scope of work is to determine a best effort location to complete an exploratory well in the Paleozoic - Mesozoic subsurface sedimentary rock stratigraphic sequences in the area. Dunn has completed a comprehensive literary search of relevant geological information that has been reviewed and utilized to opine on the completed seismic interpretation.

Dunn states in his report, "Utah has a significant history of oil and gas production. Moving into Central Utah the dominant feature is the over-thrust belt region which extends from the Northeast (Anschutz field) arcing southeast down into the Southern Central region of Utah to include areas such as the recently discovered Covenant field near Ritchfield."

The press release states that current estimates of recent production in the Central Utah play include 10 - 12 thousand barrel/day production by Wolverine Oil.

"Recent exploration activity (since the Covenant field discovery, 2003) has been significant along the north-northeasterly trending over-thrust region laying parallel to Highway 15 with off-set exploratory drilling being completed on the trend-axis both to the west and east along the longitudinal direction of the trend. The producing unit is the well known Navaho eolian-sandstone section of Jurassic age. The source material is believed to be the thick underlying late Paleozoic sequences of the Mississippian shales. Secondary targets also include the interbedded twin creek sandstone units up section from the Jurassic Navaho. The exploration activities would be considered, in the author's opinion, to be on-trend plays," concluded Mr. Dunn.

"These 'on-trend plays,' stated by Mr. Dunn, are obviously an exciting development in our continuing efforts to educate the public on the incredible reserve potentials right here in the U.S.," stated Proper Power President, Joseph Abdo.

The stock closed yesterday at Five cents a share.

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Exxon Mobil Corporation (NYSE: XOM) up 1.5% on 20.1 million shares traded.

Exxon Mobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs.

The Mosaic Company (NYSE: MOS) up 8.7% on 19 million shares traded.

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients.

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) up 3.1% on 9.7 million shares traded. FCX is a leading international mining company with headquarters in Phoenix, Arizona.

Market Commentary:
The Commerce Department said construction of new homes and apartments rose 1.7 percent in July, but applications for building permits, a gauge on future activity, fell by a higher than expected 3.1 percent.

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