PGNE Primegen Energy Corporation (CE)

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Hecla Mining Company (NYSE: HL), Teck Resources Limited (NYSE: TCK) and Duke Energy Corp. (NYSE: DUK).

After just announcing this week that a 7th oil well was just brought on line and has generated $2.0 million in revenue or a projected $36.8 million per year, PGNE has just announced it successfully commenced drilling the "Rod 10-21" well in Rodnikovskogo, Russia, and is estimated to reach a target depth by Wednesday, November 25th.

The property is located in the Krasnoarmeiskome District, Saratovskoi Oblast in Russia, one of the most significant oil and gas regions in the country with advanced infrastructure and more than 60 years of oil and gas production history. Saratov lies in the European part of Russia and borders Kazakhstan, the largest oil producing country in Central Asia. The property covers an expansive area of approximately 250 sq. km.

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.

This week, 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.

Monday's press release stated 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_111909.

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Hecla Mining Company (NYSE: HL) up 0.7% on 18.8 million shares traded.

Hecla Mining Company mines, processes and explores for silver and gold in the United States and Mexico.

Teck Resources Limited (NYSE: TCK) up 0.05% on 8.2 million shares traded.

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc, gold and energy.

Duke Energy Corp. (NYSE: DUK) down 0.3% on 8.1 million shares traded.

Duke Energy is the third largest electric power holding company in the United States, based on kilowatt-hour sales.

Market Commentary:

In afternoon trading in New York, the 16-nation euro dropped to $1.4919 from $1.4940 and the British pound slid to $1.6647 from $1.6718. The dollar slipped to 89.01 Japanese yen from 89.48 yen.

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