PGNE Primegen Energy Corporation (CE)

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Citi (NYSE: C), Chevron Corporation (NYSE: CVX) and Zions Bancorporation (NASDAQ: ZION).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that its Board of Directors has approved a stock repurchase plan. The repurchase of up to $10,000,000 of the Company's common stock was authorized.

Robert Charlton, the Company's President, said, "We are very pleased to announce this repurchase program at a time when we believe our stock is undervalued and expect a benefit to shareholders with increased future earnings per share by reducing the number of shares outstanding. This program reflects the Board of Directors' continued confidence in the Company and commitment to enhance shareholder value. Our shareholders have and continue to be our most important asset and rewarding them is a high priority."

Acquisitions of stock under the repurchase plan will be made from time to time as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. Shares may be purchased in the open market, including through block purchases. PrimeGen will not repurchase any shares from directors, officers or other affiliates of PrimeGen. Purchases will be funded by the revenue from the Timan-Pechora Project. Plan will continue as long as periodic management reviews it to be fiscally feasible and may be discontinued at any time.

Last week the company 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 Eight cents a share.

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

For more information, please visit www.WallStreetNewsAlert.com and you can also follow Wall Street News Alerts on Twitter at http://twitter.com/wsna.

Citi (NYSE: C) up 1.9% on 226.2 million shares traded.

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries.

Chevron Corporation (NYSE: CVX) up 2.5% on 8.9 million shares traded.

Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business across the globe.

Zions Bancorporation (NASDAQ: ZION) up 12.5% on 17.8 million shares traded.

Zions Bancorporation is one of the nation's premier financial services companies, consisting of a collection of great banks in select high growth markets.

Market Commentary:

The National Association of Realtors said home resales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a downwardly revised pace of 5.54 million in September. It was the biggest monthly increase in a decade, and far above the 5.65 million pace expected by economists, according to Thomson Reuters.

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 info@wallstreetnewsalert.com.

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 http://www.wallstreetnewsalert.com.

*** 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 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 Five 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.

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: Company: Wall Street News Alert Contact email: Email Contact URL: http://www.wallstreetnewsalert.com