SOURCE: Wall Street News Alert

Wall Street News Alert

August 25, 2009 09:38 ET

Wall Street News Alert: Breaking News Alert -- PGNE - August 25, 2009

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

WESTON, FL--(Marketwire - August 25, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), GE (NYSE: GE), Marathon Oil Corporation (NYSE: MRO) and Valero Energy Corp. (NYSE: VLO).

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PrimeGen Energy Corporation's (PINKSHEETS: PGNE) continues to make significant progress at the Timan-Pechora Project, which has yielded successful production results for the first three Kochmesskoye wells. Now the company is reporting that Kochmesskoye #4 Oil Well has reaches target depth.

Yesterday after the markets closed the company announced that the drilling operator at the previously announced Timan-Pechora Project has reported that the drilling of Kochmesskoye #4 well has reached total target depth yesterday at 3:35pm. Testing of any potentially productive oil bearing zones has commenced. 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 early next week. The well is the fourth of a proposed development program targeting a minimum of 30 oil wells to be drilled.

As part of the accelerated drilling program, a fifth well is scheduled for immediate drilling shortly after the results of the fourth well are announced.

The stock closed yesterday at Twenty One cents a share.

For an in-depth profile of PrimeGen Energy, visit: http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_081909.

GE (NYSE: GE) down 0.7% on 85.5 million shares traded. GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.

Marathon Oil Corporation (NYSE: MRO) up 0.2% on 4 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. Marathon has principal operations in the United States, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya, Norway and the United Kingdom. Marathon is the fourth largest United States-based integrated oil company and the nation's fifth largest refiner.

Valero Energy Corporation (NYSE: VLO) up 2.2% on 12.2 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.

Market Commentary:

Oil prices inched closer to $75 per barrel as hopes that global economic crisis is continuing to ease. Benchmark crude for October delivery rose 48 cents to settle at $74.37 a barrel on the New York Mercantile Exchange. Oil last topped $75 in October and on Monday, prices came within 19 cents of that mark.

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