PGNE Primegen Energy Corporation (CE)

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Petroleo Brasileiro SA (NYSE: PBR), BP plc (NYSE: BP) and ConocoPhillips (NYSE: COP).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that on November 30, 2009 it successfully commenced drilling the "Rod 10-22" well in Rodnikovskogo, Russia and is estimated to reach a target depth by Monday, December 14, 2009.

The Rod 10-22 well is the second 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. The first well of the project was drilled and completed on November 25, 2009, and resulted in setting a production record for the field of 2,620 barrels of oil per day. The press release stated that using current pricing for Rodnikovskogo crude oil, PrimeGen has confirmed that the Rod 10-21 well alone has generated $2.7 million in revenue or a projected $71.7 million per year. Currently, oil at Rodnikovskogo has been priced at over $75.00 per barrel.

Continuing 3D seismic data collection and analysis of the property is scheduled for 2010 and will be running concurrently with the drilling program. Several additional high potential drill targets have already been identified and will be further defined and evaluated for feasibility during the next phase of work on the property. The license is within a highly prospective region with existing oil production on adjacent licenses and the super-giant THK-BP gas field.

The stock closed yesterday at around Nine cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_120809.

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Petroleo Brasileiro SA (NYSE: PBR) down 3.4% on 17.6 million shares traded.

Petrobras SA is a Brazil-based international energy company that performs in a profitable manner, with social and environmental responsibility.

BP plc (NYSE: BP) down 1.9% on 5.4 million shares traded.

BP is one of the world's largest energy companies, with interests in more than 100 countries and over 96,000 employees.

ConocoPhillips (NYSE: COP) down 1.7% on 10 million shares traded.

ConocoPhillips is an international, integrated energy company with interests around the world.

Market Commentary:

Oil prices fell for a fifth straight day, as benchmark crude for January delivery dropped $1.31 to settle at $72.62 a barrel on the New York Mercantile Exchange. In London, Brent crude for January delivery fell $1.24 to settle at $75.19 a barrel on the ICE Futures 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 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 Three 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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