SOURCE: Wall Street News Alert

Wall Street News Alert

August 17, 2009 08:38 ET

Wall Street News Alert: Stock on the Move: PrimeGen Energy - August 17, 2009

WESTON, FL--(Marketwire - August 17, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Bank of America Corp. (NYSE: BAC), Exxon Mobil Corporation (NYSE: XOM) and BB&T Corp. (NYSE: BBT).

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With strong production results announced in July for the first two Kochmesskoye wells, PrimeGen Energy Corporation (OTC: PGNE) continues to make significant progress on its proposed development program targeting a minimum of 30 oil wells at the Timan-Pechora Project. Now the initial production numbers for the third Kochmesskoye well are in.

On Friday, the company reported that the well commenced commercial oil production on August 8, 2009, and the Company has received production results for the first 7 days. According to the release, total oil produced and sold was 7,980 barrels with an average daily production rate of 1,140 barrels per day.

The Kochmesskoye well is the third of a multi-well program drilled at Timan-Pechora by PrimeGen. The 2009-10 development program calls for the drilling of a minimum of 30 wells to develop the field. When fully developed, the 30 wells could yield a daily production rate at Timan-Pechora of 35,000 barrels per day.

The stock closed yesterday at Twenty Seven cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_081609.

Bank of America Corp. (NYSE: BAC) up 2.2% on 302.4 million shares traded.

Bank of America is one of the world's largest financial institutions.

Exxon Mobil Corporation (NYSE: XOM) down 0.7% on 19.2 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.

BB&T Corp. (NYSE: BBT) up 9.4% on 32.2 million shares traded.

BB&T Corporation is the nation's 10th largest financial holding company.

Market Commentary:

Friday, bond prices rose sharply. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.55 percent from 3.62 percent late Thursday. The drop in the 10-year yield is good news for consumers because it is closely tied to interest rates on mortgages and other loans.

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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 Seven 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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