SOURCE: Wall Street News Alert

August 11, 2005 09:46 ET

Wall Street News Alert: Emerging Public Company Looks to Capture Oil Concessions!

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

WESTON, FL -- (MARKET WIRE) -- August 11, 2005 -- Wall Street News Alert's "stocks to watch" this morning are: Capital Hill Gold Incorporated (OTC BB: CHGI), Yahoo (NASDAQ: YHOO), Bank of America Corp. (NYSE: BAC) and Transmeta Corporation (NASDAQ: TMTA).

Capital Hill Gold, Inc. (OTC BB: CHGI) may be appearing on the radar screen of aggressive investors and day traders this morning! Yesterday after the stock markets closed, the company issued a press release announcing that the Federal Government of Nigeria will on August 26 award licenses to about 47 oil block concessions under the 2005 Bid Round, that is expected to bring in new players into the nation's petroleum industry and also stimulate investments in the downstream sector.

News of the award licenses could be big news to investors! According to the company's press release, Capital Hill and OIS - Oil and Industrial Services Ltd, have bid on three of the 47 oil block concessions for this round.

Capital Hill's President, Dan Enright met with the Managing Director of OIS, Kenneth Worgu in Philadelphia on Friday, to discuss strategies post August 26, for their Joint Venture Partnership in its West African oil property development.

Continue to watch this company! The company's press release also states that over the next five years, 1 in 5 new barrels of oil on the global market will come from the Gulf of Guinea, and more than $33 billion will be invested in the region, 40 percent of it from American companies, the Washington-based Center for Strategic and International Studies estimates.

Investors should continue to monitor the progress of Capital Hill Gold for further developments! Capital Hill's Nigerian development partner is Oil and Industrial Services Ltd, The OIS group employs around 400 personnel and are proud to include major companies such as Chevron, Shell, Mobile, AGIP and other world-renowned companies within its client base.

For updated in-depth coverage and a company profile of Capital Hill Gold, visit

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

In case you are not familiar with the company: Capital Hill Gold's strategic objective is to obtain controlling interests in petroleum, uranium and other strategic and precious metal properties with excellent exploration potential for economically significant to world-class ore deposits. CHGI has acquired rights to several mineral exploration properties with uranium, gold and silver, and is actively negotiating for the acquisition of additional properties.

Stocks showing interesting activity yesterday at the close of the regular trading day were: Yahoo (NASDAQ: YHOO) up 0.3% on 18 million shares traded, Bank of America Corp. (NYSE: BAC) down 0.3% on 16.7 million shares traded and Transmeta Corporation (NASDAQ: TMTA) up 27.3% on 29 million shares traded.


"The Treasury Department announced that the July deficit was at $52.8 billion, down from $69 billion the previous year, as increased revenues were up, averaging 13.7% or $1.7 trillion in 2005. The first 10 months the budget deficit averaged $302.6 billion, $110.3 billion less than the same period the previous fiscal year. WOW, in the last 10 years we have seen a real reversal of fortunes regarding the economy and the budget," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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