PGNE Primegen Energy Corporation (CE)

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Chesapeake Energy Corporation (NYSE: CHK), Bank of America Corp. (NYSE: BAC) and Apollo Group, Inc. (NASDAQ: APOL).

Yesterday after the markets closed, PrimeGen Energy Corporation (PINKSHEETS: PGNE) issued a press release announcing that the drilling of Rod 10-22 well has reached total target depth December 13, 2009.

PrimeGen will be advised as to the commercial viability of the well and productive oil flow rates upon the completion of testing, which is anticipated by December 21, 2009. The well is the second of a proposed development program targeting a minimum of 42 oil wells to be drilled. As part of the accelerated drilling program, a third well is scheduled for immediate drilling shortly after the results of the second well are announced.

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. According to the release, when fully developed, the 42 wells could yield a daily production rate at Rodnikovskogo of 110,000 barrels per.

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_121409.

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Chesapeake Energy Corporation (NYSE: CHK) up 5.8% on 33.2 million shares traded. Chesapeake Energy Corporation is the largest independent producer of natural gas in the U.S. Headquartered in Oklahoma City.

Bank of America Corp. (NYSE: BAC) up 0.001 on 128.5 million shares traded. Bank of America is one of the world's largest financial institutions.

Apollo Group, Inc. (NASDAQ: APOL) up 9.6% on 9.3 million shares traded. Apollo Group, Inc. is one of the world's largest private education providers and has been in the education business for more than 35 years.

Market Commentary:

On Friday, a U.S. Commerce Department report showed the holiday shopping season could be brighter than anticipated.

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