PGNE Primegen Energy Corporation (CE)

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), GE (NYSE: GE), Origin Agritech Limited (NASDAQ: SEED) and United States Steel Corporation (NYSE: X).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing the initial production for the Rod 10-21, the first well at the Company's Rodnikovskogo, Russia, property. The well commenced commercial oil production on November 25, 2009, and the Company has received production results for the first 6 days. Total oil produced and sold was 15,720 barrels with an average daily production rate of 2,620 barrels per day.

The Rod 10-21 well is the first of a multi-well program drilled at Krasnoarmeiskome District, Saratovskoi Oblast in Russia by PrimeGen. The 2009-10 development program calls for the drilling of a minimum of 42 wells to develop the field. When fully developed, the 42 wells could yield a daily production rate at Rodnikovskogo of 110,000 barrels per day.

Using current pricing for Rodnikovskogo crude oil, PrimeGen has confirmed that the new well alone has generated $1.2 million in revenue or a projected $71.7 million per year. Currently, oil at Rodnikovskogo has been priced at over $75.00 per barrel.

It was just two weeks ago that PrimeGen reported the initial production for the Kochmesskoye # 7 well at Timan-Pechora, Russia. The well commenced commercial oil production on October 26, 2009, and the Company has received production results for the first 20 days. Total oil produced and sold was 28,840 barrels with an average daily production rate of 1,442 barrels per day.

The Kochmesskoye # 7 well is the seventh 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. According to the press release, when fully developed, the 30 wells could yield a daily production rate at Timan-Pechora of 35,000 barrels per day. The fourth well of the project was drilled and completed on August 24, 2009, and resulted in setting a new production record for the field of 1,670 barrels of oil per day. In addition, well numbers 1 through 6 are producing at full capacity.

The press release states that using current pricing for Timan-Pechora crude oil, PrimeGen has confirmed that the new well alone has generated $2.0 million in revenue or a projected $36.8 million per year. Currently, oil at Timan-Pechora has been priced at over $70.00 per barrel.

The stock closed yesterday at around Eleven cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_113009.

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GE (NYSE: GE) up 0.5% on 70.1 million shares traded.

General Electric Co. is a diversified global infrastructure, finance and media company that is built to meet essential world needs.

Origin Agritech Limited (NASDAQ: SEED) up 22.9% on 31.8 million shares traded.

Origin Agritech Limited is China's leading, vertically-integrated agricultural technology company specializing in agri-biotech research, development and production to supply the growing populations of China.

United States Steel Corporation (NYSE: X) up 3.7% on 13.5 million shares traded.

United States Steel Corporation is one of the leading steel company's in the U.S.

Market Commentary:

Light, sweet crude jumped $1.40 to settle at $77.45 per barrel on the New York Mercantile Exchange on news that a racing yacht with five U.K. nationals aboard had been stopped by Iranian naval vessels and that they are now being held in Iran.

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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 Five Million shares (One Million shares for current services and Four Million shares for previous services), by a third party, NorthStar Capital Corporation, who is non-affiliated and may hold a significant position in the stock. WSCF holds Four 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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