SOURCE: Wall Street News Alert

Wall Street News Alert

August 05, 2009 09:38 ET

Wall Street News Alert: Stock to Watch for Wednesday: PrimeGen Energy -- August 5, 2009

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

WESTON, FL--(Marketwire - August 5, 2009) - Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Google Inc. (NASDAQ: GOOG), Bank of America Corp. (NYSE: BAC) and SIRIUS XM Radio (NASDAQ: SIRI).

To receive FREE Mobile Stock Alerts formatted especially for your cell phone, text the word "press" in the subject line to 68494.

*** This free service can be discontinued at any time by replying to any one of the alerts with the word "stop."

For more information, please visit and you can also follow Wall Street News Alerts on Twitter at

Yesterday after the markets closed, the PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that it has completed the acquisition of Dzhebolskoye Chikshino Rig Company for $18.3 million. The primary assets of the acquired company consist of 4 OIME SL 1500 drilling rigs, which are capable of drilling to depths of greater than 18,000 feet, and a large complement of related service equipment, all of which are in excellent operating condition.

This acquisition is extremely important to the company. It was just last month, that the company had reported impressive production numbers for the first and second Kochmesskoye wells at the Timan-Pechora Project, which included initial production averages of 1,200 and 920 Barrels Per Day respectively. Then the company followed up with another important announcement on Friday stating that drilling on the third well has commenced.

With the first 3 wells of the planned 30 well drilling program making significant progress in June, PrimeGen has now reported that it has completed the important acquisition of the rig company that will not only accelerate the ongoing drilling programs in Russia, but also substantially reduce future drilling costs.

PrimeGen's CEO Robert Charlton commented, "We are pleased to announce that our acquisition in Dzhebolskoye Chikshino Rig Company has been completed. The specialized equipment and expertise combined in this strategic acquisition will accelerate our ongoing drilling programs in Russia and substantially reduce our future drilling costs."

The stock closed yesterday at Thirteen cents a share.

For an in-depth profile of PrimeGen Energy, visit

Google Inc. (NASDAQ: GOOG) up 0.3% on 2.3 million shares traded.

Google's innovative search technologies connect millions of people around the world with information every day.

Bank of America Corp. (NYSE: BAC) up 2% on 364.9 million shares traded.

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

SIRIUS XM Radio (NASDAQ: SIRI) up 14.2% on 110.7 million shares traded.

SIRIUS XM Radio is America's satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.

Market Commentary:

Consumer spending rose slightly more than expected in June, as the Commerce Department said spending rose 0.4 percent, boosted by expenditures on nondurable goods, after a revised 0.1 percent increase in May, which was previously reported as a 0.3 percent rise.

Let Wall Street News Alert help advertise for your company using our effective awareness campaigns. If you're Interested in telling your story, we can help. Contact us at

WSNA's email alert service is free to those investors who sign up on the WSNA home page. The alert service is designed to notify investors of often-overlooked stocks. Subscribers are introduced to Special Situation companies that have the potential of showing increased activity. The Wall Street News Alert home page has experienced over 200 million hits. To subscribe to this free service, visit the Wall Street News Alert home page at

*** It has come to the attention of Wall Street News Alert (WSNA), that various persons or companies distribute faxes bearing similar names to Wall Street News Alert. Wall Street News Alert is not affiliated with faxes bearing names such as: Wall Street Stock Alert, Wall Street Investor Alert, Wall Street News Alert or any other fax using various combinations of the generic words Wall Street.***

Wall Street News Alert is a division of Wall Street Capital Funding LLC (WSCF). WSCF also maintains a contractual, working relationship with Stock Market Alerts LLC and its' Wall Street Enews brand. WSCF is not a registered broker/dealer and may not sell, offer to sell or offer to buy any security. WSCF profiles are not a solicitation or recommendation to buy, sell or hold securities. An offer to buy or sell can be made only with accompanying disclosure documents from the company offering or selling securities and only in the states and provinces for which they are approved. The material in this release is intended to be strictly informational. The companies that are discussed in this release have not approved the statements made in this release nor approved the timing of this release. All statements and expressions are the sole opinion of WSCF and are subject to change without notice. Information in this release is derived from a variety of sources including that company's publicly disseminated information, third parties and WSCF research. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. WSCF disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. The release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies' discussed in this release is highly speculative and carries a high degree of risk. WSCF is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase in WSCF profiled stocks.

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 One Million 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.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and WSCF undertakes no obligation to update such statements.

Contact Information