SOURCE: Wall Street News Alert

Wall Street News Alert

August 11, 2009 08:38 ET

Wall Street News Alert: Stock in Focus: PrimeGen Energy -- August 11, 2009

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

WESTON, FL--(Marketwire - August 11, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Freddie Mac (NYSE: FRE), Fannie Mae (NYSE: FNM) and Bank of America Corp. (NYSE: BAC).

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Last month, PrimeGen Energy Corporation (PINKSHEETS: PGNE) had reported impressive production numbers for the first two Kochmesskoye well at the Timan-Pechora Project, and now the company is reporting that the drilling operator at the previously announced Timan-Pechora Project has reported that the drilling of Kochmesskoye #3 well has reached total target depth.

Testing of any potentially productive oil bearing zones has commenced. PrimeGen will be advised as to the commercial viability of the well and productive oil flow rates upon the completion of testing, which is anticipated by early next week. The well is the third of a proposed development program targeting a minimum of 30 oil wells to be drilled.

As part of the accelerated drilling program, a fourth well is scheduled for immediate drilling shortly after the results of the third well are announced. The first well of the project was drilled and completed on June 17, 2009, and resulted in setting a new production record for the field of 1,200 barrels of oil per day. PrimeGen expects that an additional 4 wells will be drilled during the third quarter of 2009.

The stock closed yesterday at Sixteen cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_081009.

Freddie Mac (NYSE: FRE) up 128.3% on 393.4 million shares traded. Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the Nation's residential mortgage markets.

Fannie Mae (NYSE: FNM) up 51.5% on 288.3 million shares traded. Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market.

Bank of America Corp. (NYSE: BAC) up 1.5% on 240.5 million shares traded. Bank of America is one of the world's largest financial institutions.

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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This profile is not without bias, and is a paid release. WSCF has been compensated for dissemination of company information on behalf of one or more of the companies mentioned in this release. For current services performed for PrimeGen Energy Corporation (PINKSHEETS: PGNE), WSCF has been compensated Four Million shares, by a third party, NorthStar Capital Corporation, who is non-affiliated and may hold a significant position in the stock. WSCF holds Nine Hundred Thousand of those shares as of this release, and intends to immediately continue selling its shares as this release is being circulated. WSCF may receive additional compensation for extension of its services. Any additional compensation will be disclosed at such time that WSCF is aware of a client's desire to extend the original services. WSCF may have received shares of a company profiled in this release prior to the dissemination of the information in this release. WSCF may immediately sell some or any shares in a profiled company held by WSCF and may have previously sold shares in a profiled company held by WSCF. WSCF's services for a company may cause the company's stock price to increase, in which event WSCF would make a profit when it sells its stock in a company. In addition, WSCF's selling of a company's stock may have a negative effect on the market price of the stock.

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