SLB Schlumberger Ltd

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (PINKSHEETS: PGNE), Schlumberger Limited (NYSE: SLB), Rio Tinto plc (NYSE: RTP) and Anadarko Petroleum Corporation (NYSE: APC).

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In an update issued on Tuesday, PrimeGen Energy Corporation (PINKSHEETS: PGNE) reported that it had successfully drilled 4 of the 30 wells to date at the Timan-Pechora project, and that all four are currently producing approximately 5,200 barrels per day. Now the company has just announced drilling success in yet another well, the Kochmesskoye No. 5.

Yesterday after the markets closed, the company issued a press release announcing that the drilling operator at the previously announced Timan-Pechora Project has reported that the drilling of Kochmesskoye No. 5 well which began on August 31, 2009 has reached total target depth on September 10, 2009.

Testing of any potentially productive oil bearing zones has been initiated. The Company 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 late next week.

Furthermore, the press release states that the combined results of the first four wells have revealed a structure larger in area than previously anticipated. In addition, the presence of a substantial gas cap in the field has been confirmed and continuous development drilling has successfully pushed the limits of the lowest known oil on the structure further down the flank than originally mapped, thereby increasing the size of the oil bearing portion of the Timan-Pechora field. Individual wells are also drilling more quickly than originally projected. As a result, this new information has initiated a structural remapping of the reservoirs and the current plans have now been changed to specifying for at least 10 additional locations to be drilled in 2010 or up to 40 wells for the entire drill program.

As part of the accelerated drilling program, a sixth well is scheduled for immediate drilling shortly after the results of the fifth well are announced. 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. PrimeGen expects that 4-5 additional wells will be drilled during the fourth quarter of 2009.

The stock closed yesterday at Fourteen cents a share.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_091609.

Schlumberger Limited (NYSE: SLB) up 4.3% on 13 million shares traded. Schlumberger is the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide.

Rio Tinto plc (NYSE: RTP) up 3.3% on 1.1 million shares traded. Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore.

Anadarko Petroleum Corporation (NYSE: APC) up 9.5% on 17.5 million shares traded. Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare.

Market Commentary:

A report from the Federal Reserve showed that industrial activity surged 0.8 percent in August topped expectations. The Fed also said the improvement in industrial production for July was twice what it had initially reported.

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