SOURCE: Wall Street News Alert

Wall Street News Alert

September 15, 2009 08:38 ET

Wall Street News Alert: Ahead of the Bell: Bayside Petroleum Company -- September 15, 2009

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

WESTON, FL--(Marketwire - September 15, 2009) - Wall Street News Alert's "stocks to watch" this morning are: Bayside Petroleum Company, Inc. (PINKSHEETS: BYSD), GE (NYSE: GE), Chesapeake Energy Corporation (NYSE: CHK) and Apple Inc. (NASDAQ: AAPL).

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This month, Bayside Petroleum Company, Inc. (PINKSHEETS: BYSD) announced the signing of a Letter of Intent covering the acquisition through a merger with Nueces Valley Resources, Inc. Now the company has issued additional news. Yesterday after the markets closed, the company provided a summary of its expanded oil & gas project interests in recent months.

According to the press release, the company has increased its interests in all of the fields in which it held interests, and has also acquired initial interests in two additional prospects. The Company also reports that it chose not to proceed with the purchase of interests in the Salt Flat and Coleman County projects that it had earlier classified as Option Properties.

Based on its analysis of reserves and the potential for production increases via its reworking, well rehabilitation and EOR (enhanced oil recovery) procedures, Bayside has increased and/or initiated its ownership interests in several promising projects. Please refer to yesterday's press release for a list of the projects and complete details.

On September 1st, 2009 Bayside Petroleum announced the signing of a Letter of Intent covering the acquisition through a merger with Nueces Valley Resources, Inc., also based in Dallas. The merger of the two companies is expected to be successfully concluded during September 2009 after the execution of a Sales and Plan of Merger Agreement and the approval of the shareholders of both companies.

Mr. Gordon H. Johnson, President and CEO of Bayside Petroleum, comments: "The acquisition of Nueces Valley Resources through a friendly merger represents a milestone in Bayside's growth plans, as it will immediately expand petroleum reserves and monthly production revenues as well as increase Bayside's development potential in the near term."

That press release stated that NVR owns and manages oil production of approximately 100 barrels per day in South Texas (Dimmit, Frio, Zavala and LaSalle Counties) and in N.E. Kansas (Douglas, Franklin and Miami Counties). NVR is the manager of a number of joint ventures that own interests in these wells. The wells in Texas number 34 and a number of them are candidates for rework and/or re-completion to enhance the daily production rates. The wells in Kansas number approximately 200 and produce oil from shallow depths, ranging from 300' to 950'. Every project in Kansas is a candidate for waterflooding (secondary recovery), which when installed, significantly increases the daily production rates.

The stock closed yesterday at Eighty Five cents a share.

For a previous, in-depth profile of Bayside Petroleum Company, visit

GE (NYSE: GE) up 4.6% on 139.2 million shares traded.

GE is a diversified technology, media and financial services company focused on solving some of the world's toughest problems.

Chesapeake Energy Corporation (NYSE: CHK) up 3.7% on 20.2 million shares traded.

Chesapeake Energy Corporation is the largest independent producer of natural gas in the U.S. Headquartered in Oklahoma City.

Apple Inc. (NASDAQ: AAPL) up 0.9% on 11.5 million shares traded.

Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications.

Market Commentary:

Oil prices fell below $69 a barrel Monday as natural gas extended its rally into its third straight day. Prices jumped more than 12 percent on the New York Mercantile Exchange to start the week, while benchmark crude for October delivery fell 84 cents to $68.45 a barrel.

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