SOURCE: Wall Street News Alert

August 18, 2005 09:46 ET

Breaking Stock Alert: Emerging Public Company Completes Phase One of 1,800-Acre Lease!

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

WESTON, FL -- (MARKET WIRE) -- August 18, 2005 -- Wall Street News Alert's "stocks to watch" this morning are: Consolidated Oil and Gas, Inc. (OTC: CSLG), Occidental Petroleum (NYSE: OXY), The Home Depot (NYSE: HD) and Massey Energy Company (NYSE: MEE).

Consolidated Oil and Gas, Inc. (OTC: CSLG) may begin appearing on the radar screen of aggressive real estate investors and day traders! Yesterday after the stock markets closed, the company issued a press release announcing that the company has completed Phase One of the development of its 1,800-acre lease in Dimmit County, Texas.

Completion of Phase One may get the attention of investors, as it comes at a time when oil and gas prices have reached record highs and includes all infrastructures to deliver gas and oil to the marketplace!

Continue to watch this company as it progresses! According to the company's press release, the Dimmit County lease comprises nine producing oil and gas wells which were reworked by the company. Consolidated Oil and Gas will receive 20 percent of the net revenues until the pay out to its partners are complete. After the payout, the Company will retain 45 percent of the net revenues. Average life span of the current producing wells is 7 to 10 years. There are 10 additional locations on the property to drill shallow gas wells. These wells contain multiple zones in different strata and show evidence of future commercial production.

One of the Austin Chaulk wells on the property has never had horizontal drilling and is currently available for future development. This lack of horizontal drilling is of particular interest because it increases the odds of finding additional limestone stratas of gas and or oil near the original well.

Investors should continue to monitor the progress of Consolidated Oil and Gas for further developments! Mr. Yeatman, President of Consolidated Oil and Gas, stated, "We are continuing to aggressively acquire additional leases in Zavalla, Dimmit and LaSalle Counties. The leases will provide our company with residual revenue over a period of 5 to 10 years. Presently, oil and gas prices have reached record highs."

For updated in-depth coverage and a company profile of Consolidated Oil and Gas, visit

Prior to yesterday's press release, the stock closed at Sixty cents a share.

In case you are not familiar with the company: Consolidated Oil and Gas, Inc. is a U.S.-based company engaged in the exploration and production of onshore domestic oil and natural gas properties. The company's exploration and production activities are focused primarily in Texas. Their mission is to apply strong technical expertise to unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently.

Stocks showing interesting activity yesterday at the close of the regular trading day were: Occidental Petroleum (NYSE: OXY) down 2.4% on 3.3 million shares traded, The Home Depot (NYSE: HD) down 0.1% on 8.3 million shares traded and Massey Energy Company (NYSE: MEE) down 1.1% on 3 million shares traded.


"The World Bank predicts that China's economy will end at 9% growth for 2005 and adjust to 8% for 2006. This as the U.S. has averaged around 3.5% so far this year may answer the question where is all that oil going. India is close behind," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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