SOURCE: Wall Street News Alert

Wall Street News Alert

August 06, 2007 09:08 ET

Wall Street News Alert: Investment Watch: MGRA! August 6, 2007

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

WESTON, FL--(Marketwire - August 6, 2007) - Wall Street News Alert's "stocks to watch" this morning are: Monogram Energy, Inc. (PINKSHEETS: MGRA), ConocoPhillips (NYSE: COP), Chevron Corporation (NYSE: CVX) and Halliburton (NYSE: HAL).

With $100-a-barrel oil that Goldman Sachs Group Inc. has forecasted by 2009, investors looking to possibly benefit from the energy sector should have their eyes on Monogram Energy, Inc. (PINKSHEETS: MGRA). Friday after the markets closed, the company, an independent energy company engaged in the acquisition, development, and exploitation of oil and gas properties, issued a press release announcing that the Company has obtained the rights to workover the Mobhun 1 well in Pecos County, Texas.

This is additional good news for Monogram Energy, which has also announced last week that it has selected the A.N. Johnson I well in Pecos County, Texas to begin its workover program! Billy D. King, President and CEO of Monogram Energy, stated, "With our second well acquisition announced today, management feels confident that we will meet our goal of 50 additional wells for our Workover Program by year's end. We will continue to identify and procure the rights to promising leases." Mr. King continued, "We anticipate cumulative initial production of 10,000 barrels of oil per month once all wells have completed the Workover Program."

According to the press release, at current market prices, initial net revenue to Monogram's interest could exceed $750,000.00 per month assuming all wells can complete the Workover Program in a timely manner.

Wall Street News Alert continues to alert aggressive investors to watch this company closely. Pecos County is a highly defined shallow well prospect located in Southwest Texas. The Mobhun 1 is located on an 80-acre lease and was originally completed in the Ellenberger formation at approximately 4,100'. Its last production was in 1998 when it was shut down due to low oil prices. Monogram will implement its Workover Program on the existing perforations, drill out a bridge plug and complete in the original Ellenberger zone. The Company's analysis of the well and its reserves anticipate it should produce approximately 150-250 barrels per month.

Additionally, the company also recently announced that Market Advisors, Inc. has issued a research report establishing an intermediate-term price target of $0.58 for the Company's shares.

Before the news hit the wires, the company's stock closed Friday at Eight cents a share.

For Wall Street News Alert's in-depth and updated profile of Monogram Energy, visit:

ConocoPhillips (NYSE: COP) down 3.3% on 14.6 million shares traded. ConocoPhillips is an integrated petroleum company with interests around the world.

Chevron Corporation (NYSE: CVX) down 3.4% on 15.5 million shares traded. Chevron is one of the world's leading energy companies. With more than 56,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing, and distributing fuels and other energy products.

Halliburton (NYSE: HAL) down 3.3% on 19.7 million shares traded. Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 45,000 employees in nearly 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir -- from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.

Market Commentary:

"Wall Street took another dive Friday; with the Dow Jones industrial average down more than 280 points after comments from a major investment bank exacerbated the market's fears of a widening credit crunch," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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