SOURCE: Wall Street News Alert

Wall Street News Alert

April 28, 2009 08:33 ET

Wall Street News Alert: Hot Stocks to Watch: PGNE! April 28, 2009

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

WESTON, FL--(Marketwire - April 28, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Ford Motor Company (NYSE: F), Valero Energy Corporation (NYSE: VLO) and Occidental Petroleum Corporation (NYSE: OXY).

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As the company continues to move forward, PrimeGen Energy Corporation (PINKSHEETS: PGNE) should have investors watching closely. Yesterday after the markets closed, the company issued a press release announcing that it has recently completed further analysis of the previously mentioned 2D and 3D seismic data to refine the specifics during the drill target location process with respect to the Company's natural gas exploration and development project in Russia.

The Company's current project area of focus is located in the Krasnoarmeiskome District, Saratovskoi Oblast in Russia, in a prolific gas-producing area. PrimeGen has acquired a 100% interest in the oil & gas properties from Russian corporation Seneko Holdings Ltd. The project area has all the characteristics that match PrimeGen's operating asset strategy of high-value and reasonable risk that, if commercially viable, will allow PrimeGen to become a gas producer in 2009 with long-term cash flows that provide a strong platform for growth.

According to the release, the project has the potential to contain over 30 BCF gas. PrimeGen has very high expectations for the project and has a 100% interest in the area lands, but is subject to a 5% overriding royalty on future production. The property area has significant engineering completed on it which includes 2D and 3D seismic across multiple target locations including several rock formations with gas shows. It is these specific locations that are being scrutinized in the selection procedures as potential well locations for the 2009 drilling program. The targeted locations are in close proximity to producing gas wells, pipelines and operating infrastructure.

PrimeGen believes there is a high probability of success for the completion of commercially viable gas wells on the project lands. Analog production from nearby wells in the area is currently 2,000 to 3,000 Mcf per day and the data profile of the Company's current targets indicate that a similar level of success is a reasonable expectation.

Investors are urged to keep a close eye on future developments

The stock closed yesterday at around Five cents a share.

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Ford Motor Company (NYSE: F) up 2.2% on 111.3 million shares traded. Ford Motor Company, one of the global automotive industry leaders, based in Dearborn, Mich., manufactures or distributes automobiles across six continents.

Valero Energy Corporation (NYSE: VLO) down 4.3% on 11.5 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.

Occidental Petroleum Corporation (NYSE: OXY) down 1.9% on 6.7 million shares traded. Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions.

Market Commentary:

Retail gasoline prices fell two-tenths of a cent on Monday overnight to a national average of $2.05 for a gallon of regular unleaded, according to auto club AAA, Wright Express and Oil Price Information Service.

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