SOURCE: Wall Street News Alert

Wall Street News Alert

August 11, 2009 09:12 ET

Wall Street News Alert: Stock in Focus: Petroleum Consolidators of America - August 11, 2009

WESTON, FL--(Marketwire - August 11, 2009) - Wall Street News Alert's "stocks to watch" this morning are: Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), Exxon Mobil Corporation (NYSE: XOM), Dynegy Inc. (NYSE: DYN) and El Paso Corporation (NYSE: EP).

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There is important news coming from Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI). This morning, the company, a gasoline station/convenience store operator, issued a press release announcing that it has entered into a capital raising agreement with a Southwest Florida-based Broker-Dealer for a $15,000,000 financing.

David Cohen, President and CEO of Petroleum Consolidators, stated, "We are extremely excited to have entered into our capital raising agreement with this boutique investment banking firm. This financing engagement is a critical milestone in our company's history. It sends a clear and positive message to our industry that we will have the resources to continue moving forward with our business plan to build a regional presence of gasoline stations with convenience stores and a wholesale fuel business."

Additionally, Cohen stated, "We are confident that these funds will be used efficiently to maximize Petroleum Consolidators revenue and profitability as we continue to pursue strategic opportunities in our industry."

The stock closed yesterday at around Two cents a share.

Exxon Mobil Corporation (NYSE: XOM) down 0.4% on 16.2 million shares traded. Exxon Mobil Corporation is one of the leading international energy companies whose subsidiaries have operations in most of the world's countries.

Dynegy Inc. (NYSE: DYN) up 15.5% on 42.2 million shares traded. Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets.

El Paso Corporation (NYSE: EP) up 2.6% on 10.8 million shares traded. El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner.

Market Commentary:

Oil dropped below $71 on Monday, as benchmark crude for September delivery fell 33 cents to settle at $70.60 a barrel on the New York Mercantile Exchange.

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