SOURCE: Wall Street News Alert

Wall Street News Alert

December 09, 2009 09:38 ET

Wall Street News Alert: Stock to Watch: PrimeGen Energy - December 9, 2009

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

WESTON, FL--(Marketwire - December 9, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Marathon Oil Corporation (NYSE: MRO), Duke Energy Corp. (NYSE: DUK) and El Paso Corporation (NYSE: EP).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that on November 30, 2009 it successfully commenced drilling the "Rod 10-22" well in Rodnikovskogo, Russia and is estimated to reach a target depth by Monday, December 14, 2009.

The Rod 10-22 well is the second of a multi-well program drilled at Krasnoarmeiskome District, Saratovskoi Oblast in Russia by PrimeGen. The 2009-10 development program calls for the drilling of a minimum of 42 wells to develop the field. When fully developed, the 42 wells could yield a daily production rate at Rodnikovskogo of 110,000 barrels per day. The first well of the project was drilled and completed on November 25, 2009, and resulted in setting a production record for the field of 2,620 barrels of oil per day. The press release stated that using current pricing for Rodnikovskogo crude oil, PrimeGen has confirmed that the Rod 10-21 well alone has generated $2.7 million in revenue or a projected $71.7 million per year. Currently, oil at Rodnikovskogo has been priced at over $75.00 per barrel.

Continuing 3D seismic data collection and analysis of the property is scheduled for 2010 and will be running concurrently with the drilling program. Several additional high potential drill targets have already been identified and will be further defined and evaluated for feasibility during the next phase of work on the property. The license is within a highly prospective region with existing oil production on adjacent licenses and the super-giant THK-BP gas field.

The stock closed yesterday at around Nine cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_120809.

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Marathon Oil Corporation (NYSE: MRO) down 2.8% on 5.7 million shares traded.

Marathon is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas; and refining, marketing and transportation operations.

Duke Energy Corp. (NYSE: DUK) up 0.4% on 8.1 million shares traded.

Duke Energy is the third largest electric power holding company in the United States, based on kilowatt-hour sales.

El Paso Corporation (NYSE: EP) down 2.5% on 8 million shares traded.

El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner.

Market Commentary:

Driven by a stronger dollar, gold for February delivery dropped $20.60 to $1,143.40 an ounce on the New York Mercantile Exchange.

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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 Three Hundred 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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