Wall Street News Alert: Breaking News: PGNE -- November 4, 2009

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (OTC: PGNE), IceWEB, Inc. (OTCBB: IWEB), Constitution Mining Corp. (OTCBB: CMIN) and Sunovia Energy Technologies, Inc. (OTCBB: SUNV).

This morning, PrimeGen Energy Corporation (OTC: PGNE) issued a press release announcing that its wholly owned Russian subsidiary OOO Verkhne Michayu Group has been awarded the Layevozhskoye oil and gas exploration license in the Baltic Basin in Western Russia.

The primary reason for applying for this license is the high potential of the Paleozoic shales that could lead to a commercial shale gas development similar to the Barnett Shale in the United States. In addition, PrimeGen believes that while testing the shale gas potential of the area there are conventional oil targets above and below the shale intervals further reducing the risk of exploration.

The vast majority of the area of the Baltic basin is under license or under application by numerous domestic and international companies. This award therefore gives PrimeGen access to a highly desirable region, during a period of considerable competition. The License is valid for up to 10 years and covers a work program which includes geological studies, seismic acquisition and a one well drilling obligation. If a discovery is made the term extends to 25 years with an additional 25 years, if required.

Robert Charlton, CEO of PrimeGen commented "We are excited to expand our portfolio in Russia into the underexplored Baltic Basin. There is a potentially significant unconventional gas play in the Paleozoic shales that we believe will unlock an overlooked high potential play in the wider region. We also believe there is significant potential that has been overlooked in several conventional targets on the license."

In other news, yesterday after the markets closed, PrimeGen reported it has filed its Initial Company Information and Disclosure Statement with the Pink Sheets OTC Disclosure and News Service. The company has also submitted its annual and quarterly reports through the service and is fully up to date on its financial filings. With the Initial Company Information and Disclosure Statement posted, the company also posted a required attorney opinion letter to meet all the requirements necessary to be placed in the "Current Information" classification.

The Initial Company Information and Disclosure Statement includes details of the company's history, its current share structure, financial information, and management's plan of operation. "While this filing is just part of the process of achieving 'Current Information' status, it contains information that we believe is of interest to our shareholders," Robert Charlton, CEO of PrimeGen Energy Corp.

The stock closed yesterday at around Eight cents a share.

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IceWEB, Inc. (OTCBB: IWEB) up 23.5% on 3.1 million shares traded.

On Nov 03, 2009 IceWEB, Inc. recently announced that the Company has entered into a Standard Procurement Agreement (SPA) with ExxonMobil Global Services Company, an operating division of ExxonMobil, the largest publicly traded international oil and gas company. The agreement for upstream services from IceWEB is for both the design of Geographical Information Systems (GIS) and to provide GIS technical staff including Consultants, Project Managers, Senior GIS System/Software Architects, GIS Software Developers, Engineers, Data Base Analysts, and Senior Storage Engineering staff.

John R. Signorello, CEO of IceWEB said, "Land exploration in the oil and gas sector requires the ability to put detailed imagery in the hands of those who need it regardless of where they may be. With this agreement ExxonMobil will leverage IceWEB expertise to work on building new infrastructure to accomplish that task. We are very pleased to be able to make our resources available to ExxonMobil for this important project."

About IceWEB, Inc.: Headquartered just outside of Washington, D.C., IceWEB manufactures and markets purpose built appliances, network and cloud attached storage solutions and delivers on-line cloud computing application services. Its customer base includes U.S. government agencies, enterprise companies, and small to medium sized businesses (SMB). For more information, please visit www.IceWEB.com.

Constitution Mining Corp. (OTCBB: CMIN) up 33.7% on 356,000 shares traded.

On Nov 2, 2009 Constitution Mining Corp. recently announced the Company has paid US$750,000 and will issue 2,500,000 shares of common stock to exercise the second option to acquire an additional 25 percent interest in the mineral rights for 382 square kilometers (147.5 square miles) of mining properties in the developing Gold Sands district of northeastern Peru, increasing the Company's interest in the mineral rights from 25 percent to 50 percent.

The Company previously entered into a Mineral Rights Option Agreement, dated September 29, 2008, as amended May 12, 2009, with Temasek Investments Inc. ("Temasek"), a company incorporated under the laws of Panama. Pursuant to the Mineral Rights Option Agreement, the Company acquired four separate options from Temasek, each providing for the acquisition of a twenty-five percent interest in certain mineral rights in certain properties in Peru. Pursuant to the Mineral Rights Option Agreement, the exercise of all four options would result in the Company's acquisition of one hundred percent of the mineral rights.

The parties have also agreed to amend the option to acquire the third 25 percent of the mineral rights under the Mineral Rights Option Agreement, as fully described in the Company's current Form 8-K filing. The Company maintains the right to exercise the final option to purchase the final 25 percent of the Mineral Rights, taking its interest in the project to 100 percent, based on the terms previously disclosed. Constitution Mining Chairman, Dr. Michael Stocker commented "As we continue to explore and advance the Gold Sands project, we believe that we are well positioned to develop long-term value for our shareholders. The Gold Sands district holds great promise and we intend to capitalize on that potential."

About Constitution Mining Corp.: Our goal is to locate a commercially viable gold deposit and continuously increase the amount of gold underlying each of our outstanding shares. To build such value, we are focusing on the rapidly developing Gold Sands region of Peru, where we have optioned 382 square kilometers (147.5 square miles) of mining properties - the largest such block in the district.

Sunovia Energy Technologies, Inc. (OTCBB: SUNV) up 8.6% on 3.2 million shares traded. On Nov 03, 2009 Sunovia Energy Technologies, Inc. recently announced it has been granted an export license from the U.S. Department of State to sell mercury cadmium telluride (HgCdTe) undoped infrared wafers for night-vision camera applications to a South Korean customer. This license permits Sunovia to substantially increase its international sales of infrared-related products.

Sunovia filed for the export license following the receipt of a $33 million, 10-year volume purchase agreement from the South Korean customer, which Sunovia announced in April of this year. The newly granted export license will allow Sunovia to immediately begin fulfilling a pending order from its customer in South Korea.

The international market for infrared technology and products continues to grow substantially. MaxTech's Infrared Imaging News, an industry publication, estimates that the 2008 total available market for the infrared industry (night-vision cameras and thermographic equipment) was $5.9 billion with applications beyond military, including security and surveillance (including Homeland Security), automotive, building and maintenance and process control, among others.

The HgCdTe wafers are manufactured by Bolingbrook, IL-based EPIR Technologies, Inc., a world leader in the development and manufacture of infrared products. Sunovia is the exclusive international distributor for all EPIR infrared products. EPIR uses molecular beam epitaxy to produce state-of-the-art single- and multi-element infrared detectors packaged as detector/cooler assemblies, as well as HgCdTe wafers for infrared camera focal plane arrays. For more information, visit www.sunoviaenergy.com.

Sunovia Energy Technologies is a Sarasota, FL-based company that commercializes and markets products within the LED lighting and solar markets that reduce carbon emissions promote national security and preserve the environment. Sunovia owns the exclusive marketing rights to products produced by EPIR Technologies, Inc., including infrared sensors and devices for the civilian and military night vision markets.

Market Commentary: The average price for a gallon of regular gasoline fell a half penny overnight to $2.686, according to auto club AAA, Wright Express and Oil Price Information Service. That's 22.5 cents more than a month ago, and 27.1 cents more than gas cost at this time last year.

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