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

  Wall Street News Alert's "stocks to watch" this
morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Apple Inc.
(NASDAQ: AAPL), Halliburton (NYSE: HAL) and ConocoPhillips (NYSE: COP).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing 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 Nine cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_111609.

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Apple Inc. (NASDAQ: AAPL) up 1% on 17.3 million shares traded.

Apple continues to lead the industry in innovation with its award-winning computers, OS X operating system and iLife and professional applications.

Halliburton (NYSE: HAL) up 3.2% on 14.3 million shares traded.

Halliburton is one of the world's largest providers of products and services to the energy industry.

ConocoPhillips (NYSE: COP) up 1.9% on 9.4 million shares traded.

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

Market Commentary:

The Commerce Department said Monday that retail sales rose 1.4 percent last month. Economists surveyed by Thomson Reuters had expected a gain of 1 percent.

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