Wall Street News Alert: Market Watch: CNSV -- June 2, 2010
02 Junho 2010 - 9:38AM
Marketwired
Wall Street News Alert's "stocks to watch" this morning are:
Consolidation Services, Inc. (OTCBB: CNSV), Halliburton (NYSE:
HAL), Schlumberger Limited (NYSE: SLB) and Chesapeake Energy
Corporation (NYSE: CHK).
Yesterday after the markets closed, Consolidation Services, Inc.
(OTCBB: CNSV) issued a press release announcing that it has entered
into a non-binding Letter of Intent to purchase a number of mineral
leases in California for $35 million which represents ongoing
current production equal to 265 barrels of oil per day and 485,000
cubic feet of natural gas per day accounting for over $300,000 a
month in net revenue.
The LOI outlines the terms acceptable to both parties and serves
as a basis for a definitive Purchase and Sales Agreement for the
acquisition of oil and gas production, reserves and operations
maintained under 6 mineral rights leases. If completed, the
acquisition will represent a significant and material increase in
current production, proven reserves and revenue for CNSV.
Management anticipates closing on the acquisition during the third
quarter 2010.
The stock closed yesterday at Seventy Five a share.
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Halliburton (NYSE: HAL) down 14.8% on 72.5 million shares
traded.
Halliburton is one of the world's largest providers of products
and services to the energy industry.
Schlumberger Limited (NYSE: SLB) down 7.8% on 35.7 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.
Chesapeake Energy Corporation (NYSE: CHK) down 3.2% on 15.5
million shares traded.
Chesapeake Energy Corporation is one of the largest producers of
natural gas and the most active driller of new wells in the
U.S.
Market Commentary:
The Institute for Supply Management said its manufacturing index
fell to 59.7 in May from 60.4 in April. The figure was better than
economists' forecast of 59.
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Wall Street Capital Funding LLC (WSCF), also doing business as
Wall Street News Alert 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 may or may not have approved the statements made in this
release and may or may not have 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 that may or may not
include the referenced company's publicly disseminated information,
information supplied by third parties or WSCF's own research. The
accuracy or completeness of the information is not warranted and is
only as reliable as the sources from which it was obtained. While
this information is believed to be reliable, such reliability
cannot be guaranteed. 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. To
comply with Section 17(b) of the Securities Act of 1933, WSCF is
disclosing that the company has been compensated for dissemination
of this information on behalf of one or more of the companies
mentioned in this release. For current services performed for
Consolidation Services, Inc. (OTCBB: CNSV), WSCF has been
compensated Ten Thousand Dollars, by third party, Franco Inc., who
is non-affiliated and may hold a significant position in the stock.
In addition, WSCF has also been compensated Twenty Five Thousand
free trading shares and Thirty Thousand restricted shares, by third
party, Franco Inc. WSCF holds all of those shares, but intends to
immediately begin 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. In the event of any receipt of such shares, full
disclosure would be shown above. 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,
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such as "may," "future," "plan" or "planned," "will" or "should,"
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may differ materially from those projected in the forward-looking
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identified in a companies' annual report on Form 10-K or 10-KSB and
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forward-looking statements included herein, and not place undue
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