SOURCE: Wall Street News Alert

Wall Street News Alert

September 17, 2008 09:38 ET

Wall Street News Alert: Morning Watch for Wednesday - SOIS! September 17, 2008

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

WESTON, FL--(Marketwire - September 17, 2008) - Wall Street News Alert's "stocks to watch" this morning are: Striker Oil & Gas, Inc. (OTCBB: SOIS), Hess Corporation (NYSE: HES), Apache Corporation (NYSE: APA) and National Oilwell Varco, Inc. (NYSE: NOV).

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Having previously announced a 126% increase in revenue for its Second Quarter ended June 30, 2008 compared to the same period in 2007, Striker Oil & Gas, Inc. (OTCBB: SOIS) should have investors watching the stock closely. Yesterday after the markets closed, the company, an upstream U.S. oil and gas company, issued a press release announcing that it has increased its acreage position to 9,000 gross acres in its Catfish Creek Prospect located in East Texas.

Great news for the company! Striker has drilled two wells on this prospect and expects to begin gas production pending the installation of its gas pipeline that is scheduled to be completed in the 4th quarter of 2008. In addition, Striker is scheduled to begin drilling the first of three wells in October and anticipates having all three drilled by the end of the year. These additional three wells will be drilled to test the Pettit and Rodessa formations which are found in our initial two successful wells. Striker has a 33% working interest before payout and a 25% working interest after payout to depths of 14,800' of this prospect.

"We are pleased to have increased our acreage position in Catfish Creek and look forward to having the pipeline and the three additional wells completed by the end of the year," said Kevan Casey, Chief Executive Officer of Striker. "These wells, if successful, will significantly add to our production and reserves and should greatly increase our shareholder value."

SOIS closed Tuesday at Twenty-Two cents a share.

For an in-depth profile of Striker Oil & Gas, visit

In case you are not familiar with the company: Striker Oil & Gas, Inc. is engaged in the search for and sale of oil and gas reserves through both exploratory drilling and the acquisition of producing properties. Striker's objective is to cost efficiently develop these properties and market the oil and gas production at the wellhead. Striker is strategically focused along the Texas Gulf Coast, East Texas and South Louisiana in areas of developed infrastructure and established markets.

Hess Corporation (NYSE: HES) up 3.1% on 13.3 million shares traded.

Hess Corporation, with headquarters in New York, is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products.

Apache Corporation (NYSE: APA) up 4.2% on 6.6 million shares traded.

Apache Corporation is a large oil and gas independent with operations in the United States, Canada, the United Kingdom sector of the North Sea, Egypt, Australia and Argentina.

National Oilwell Varco, Inc. (NYSE: NOV) up 7% on 17.4 mllion shares traded.

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

Market Commentary:

"As turmoil continues to rattle the financial industry, the Fed held its key benchmark U.S. interest rate steady on Tuesday. The U.S. central bank's decision leaves the interbank overnight federal funds rate at 2 percent, where it has been since April," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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