WESTON, FL -- (Marketwire) -- 03/13/09 -- Wall Street News Alert's "stocks to watch" this morning are: Oncolin Therapeutics, Inc. (PINKSHEETS: OCOL), General Motors Corp. (NYSE: GM), Genentech Inc. (NYSE: DNA), and Pfizer Inc. (NYSE: PFE).
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Yesterday after the markets closed, the company, Oncolin Therapeutics, Inc. (PINKSHEETS: OCOL), which focuses on renewable and traditional energy resources as well as assists in the development and advancement of Intertech Bio, a biopharmaceutical company that engages in the discovery, development and commercialization of novel selective anticancer therapies, announced that it has identified a new prospect located in Louisiana with over 1,000,000 barrels of potential oil reserves. This prospect area has twenty-three wells that were previously drilled and consists of approximately 600 acres. Oncolin will initially evaluate the viability of re-entering the existing well bores which is traditionally much less than drilling new wells.
This prospect is in line with the company's new focus of developing existing well bores and re-entering wells behind existing pipe to produce oil and gas. This allows the company to reduce costs and generate substantial higher investment returns and also minimizes the risks and high capital costs typically associated with drilling new wells. The company accomplishes this by employing the latest seismic, directional drilling, logging, and completion technologies.
The stock closed yesterday at around One cent a share.
For an in-depth profile of Oncolin Therapeutics, Inc., visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=OCOL_031109
General Motors Corp. (NYSE: GM) as of 10:45 am EST. up 23.9% on 16.1 million shares traded.
General Motors Corp. is one of the world's largest automakers. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries.
Genentech Inc. (NYSE: DNA) as of 10:45 am EST. up 0.1% on 7.6 million shares traded.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with significant unmet medical needs.
Pfizer Inc. (NYSE: PFE) as of 10:45 am EST. up 2% on 21.1 million shares traded.
Pfizer Inc., founded in 1849, is dedicated to better health and greater access to health care for people and their valued animals.
Market News: World stock markets rallied again Friday as confidence remained buoyed by positive U.S. economic data, hopes of further stimulus measures from Japan and China and upbeat comments from U.S. bank executives.
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