Wall Street News Alert: Stock to Watch for Tuesday: PrimeGen Energy -- November 4, 2009

Wall Street News Alert's "stocks to watch" this morning are: PrimeGen Energy Corporation (OTC: PGNE), Viking Systems, Inc. (OTCBB: VKNG), San West Inc. (OTCBB: SNWT) and Pacific Asia Petroleum, Inc. (OTCBB: PFAP).

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.

For an in-depth profile of PrimeGen Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=PGNE_110309.

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Viking Systems, Inc. (OTCBB: VKNG) up 369.3% on 5.3 million shares traded.

On Nov 3, 2009 Viking Systems, Inc. recently announced results for the quarter ended September 30, 2009. The Company reported that it has made significant progress in its objective to reach sustainable positive cash flow from operations and that it is exploring strategic and financing options in order to fund anticipated 2010 operating losses while the Company develops and launches its "Next Generation" 3DHD Visualization System. Additionally, the Company discussed a significant order for its current 3Di system, its technology outlook and several pending changes in its management and governance structure.

Third quarter and year-to-date financial results

Sales. Sales were $1,995,614 for the three months ended September 30, 2009 and $1,585,826 for the three months ended September 30, 2008, representing an increase of 26%. For the nine months ended September 30, 2009, sales increased 16% to $5,149,504 compared with the same period in the prior year. The increase in sales during the quarter ended September 30, 2009 was due to increased sales of approximately $590,000 of a proprietary visualization system designed for and distributed by one specific customer as they elected to increase inventory levels of such product. Sales to this customer increased by approximately $1,210,000 during the nine months ended September 30, 2009 compared with the same period in the prior year. Net loss. The net loss was $195,877, or $0.00 per share for the quarter ended September 30, 2009 compared with a net loss of $43,599, or $0.00 per share for the same period in 2008. Other income included a $1,000,000 license fee in the quarter ended September 30, 2008. For the nine month periods ended September 30, 2009 and 2008 the Company incurred net losses of $882,669 or $0.02 and $5,055,726 or $0.12 per share, respectively.

Operating loss. As a result of increased sales, higher margins and reduced operating expenses the Company has substantially reduced its operating losses. The operating loss was $193,316 for the quarter ended September 30, 2009 compared with $1,044,557 for the same period in 2008. For the nine month periods ended September 30, 2009 and 2008 the Company incurred operating losses of $996,863 and $3,947,760, respectively. The operating loss before non-cash charges was $34,418 for the quarter ended September 30, 2009 compared with $803,047 for the same period in 2008. For the nine month periods ended September 30, 2009 and 2008 the Company incurred operating losses before non-cash charges of $435,654 and $2,595,724, respectively.

Viking Systems, Inc. is a leading worldwide developer, manufacturer and marketer of visualization solutions for complex minimally invasive surgery. The Company partners with medical device companies and healthcare facilities to provide surgeons with proprietary visualization systems enabling minimally invasive surgical procedures, which reduce patient trauma and recovery time.

San West Inc. (OTCBB: SNWT) up 47.6% on 709,000 shares traded.

On Nov 03, 2009 San West Inc. recently announced the launch of the first of its marketing and advertising campaigns designed to increase sales of the Company's Buggy World product line and exposure of their full suite of products and services. The ad campaign, which includes 20 sixty second 'on-air' and 125 'online streaming' commercials per week, centers on the winning of a Buggy World Exclusive "Truggy!" A Truggy is a popularly specialized off-road vehicle considered to be a cross between a truck and a buggy.

The secondary goals of the marketing campaign, include (1) growing the customer database; (2) generating consumer awareness about Buggy World as 'affordable fun'; and (3) driving the consumer, adults 21-60 to visit the company web-site or Buggy World retail locations for one stop shopping.

"We are extremely excited about the new ad campaign," said GM and VP of Buggy World Brian Britton. "With the inclusion of www.CountyImports.com and San Diego Sport Cycles, we expect this campaign to add an additional $500,000 to Buggy World's top line revenue over the next two quarters."

The contest is as follows: A total of 10 qualifiers will be chosen for the grand prize, 5 from www.BuggyWorld.net and 5 from http://ksonfm.com. KSON is a San Diego based radio station whose on-air reach is in excess of 300,000 people per week. Each qualifier will receive a $100 Gift Card from Buggy World, a pair of tickets to CountryFest North and an exclusive meet-and-greet with a CountryFest artist. The winner of the Truggy will be chosen live at the spring CountryFest in May.

About San West Inc.: San West designs, manufactures, sells and repairs off-road buggies, and additionally provides aftermarket performance products and accessories for off-road buggies. Products are sold via three divisions: at retail store locations, via the online store and through its growing dealer network. Buggy repair services are sold and fulfilled at the Santee, California retail location. For further information about San West Inc. visit www.CountyImports.com, www.BuggyWorld.net and www.SanWestInc.com.

Pacific Asia Petroleum, Inc. (OTCBB: PFAP) up 15.9% on 652,000 shares traded.

On Nov 03, 2009 Pacific Asia Petroleum, Inc. recently announced its common stock has been approved for listing on the NYSE Amex. Trading is expected to begin on November 5, 2009 under the new ticker symbol PAP (NYSE Amex: PAP). Prior to that date, Pacific Asia Petroleum's shares will continue to trade on the Over-the-Counter (OTC) Bulletin Board.

"Moving from the OTC Bulletin Board to the NYSE Amex is another tremendously important milestone for Pacific Asia Petroleum," said President and CEO Frank C. Ingriselli. "We have always prided ourselves on our conservative accounting, transparency and corporate governance. Moving up to the NYSE Amex not only validates these efforts, it provides us with greater visibility for our company, more liquidity for our stock and the opportunity to further expand our investor base. We believe that this move will deliver more value for our shareholders now and down the road."

"We welcome Pacific Asia Petroleum to NYSE Amex," said Scott Cutler, Head of Listings, Americas. "Pacific Asia Petroleum and its shareholders will benefit from the superior market quality, technology, and services provided by listing on NYSE Euronext markets. Pacific Asia Petroleum is a welcome addition to our roster of leading energy companies, and we look forward to a strong and lasting partnership."

About Pacific Asia Petroleum, Inc.: Pacific Asia Petroleum, Inc. engages in the business of oil and gas exploration, development, production and distribution in Asia and the Pacific Rim countries, with a specific focus on developing a broad range of energy opportunities, including clean and environmentally-friendly natural gas ventures, in China. The Company's executive offices are located in Hartsdale, New York, and the Company also has offices located in Beijing, China and California.

Market Commentary: November gold was up $24.40 to $1,077.80 an ounce, after climbing to a high of $1,079.70. The previous intraday record was set Oct. 13, when gold rose to $1,069.70 an ounce.

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