WESTON, Fla., May 4, 2005 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Caliber Energy, Inc. (OTCBB:CALB), Symantec Corp (Nasdaq:SYMC), General Motors Corp. (NYSE:GM) and The Home Depot Inc. (NYSE:HD).
Aggressive investors and traders may set their sights on Caliber Energy, Inc. (OTCBB:CALB) again this morning. Yesterday after the markets closed, the company issued a press release announcing that it is moving forward in making the necessary preparations for the spud of the first oil well at the Bolloque Project, Alberta, Canada.
This could be great news for investors! According to the company's press release, it and the operator of the project, Transaction Oil and Gas Ventures of Calgary have begun the well licensing, required permitting and have picked the well location. Site preparations will commence when the government road bans are lifted, anticipated to be shortly. Caliber is now locating a drilling rig for the project and expects to be drilling in 3 weeks.
Caliber has executed an Authority for Expenditure (A.F.E.) totaling $329,000 to drill, test and case the well. An additional $125,000 will be required to complete the well. Caliber is earning its 49% working interest by drilling, casing and completing an exploratory well on the leases.
Investors watch the progress of Caliber Energy! As earlier reported, the company commissioned a seismic review and interpretation on the Bolloque Project by an independent reservoir engineer and geophysicist that confirmed the presence of a Leduc Pinnacle Reef buildup under the Company leases. The seismic section shows a reef buildup of approximately 30 meters (98.5 feet). The reef has never been tested for oil at its highest development and Caliber will drill at this location to test for oil accumulation.
For more in-depth coverage of Caliber Energy, visit http://www.backissuesofnewsalerts.us/CALB0503.html
Prior to yesterday's press release, the stock closed at around Twenty cents a share.
In case you are unfamiliar with the company: Caliber Energy, Inc. is primarily focused on developing advanced coal projects and other high potential business opportunities in the energy sector. The company is focusing on coal, oil and natural gas. Caliber's primary focus is on advancing coal projects to production, combined with the opportunities management has identified that would provide immediate cash flow and revenue by securing coal trade agreements. Caliber augments the coal projects with oil and gas opportunities that are low risk with a high rate of return. With this diverse portfolio, Caliber Energy minimizes risk as the company meets demand for fossil fuels.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Symantec Corp (Nasdaq:SYMC) up 2.7% on 18 million shares traded, General Motors Corp. (NYSE:GM) up 2.2% on 8.9 million shares traded and The Home Depot Inc. (NYSE:HD) up 1.3% on 9.6 million shares traded.
Commentary: "For the 8th time since June of 2004 Chairman Greenspan along with the Fed Governors raised rates .25 to make the overnight rate now at 3%. The Fed said they intend to make rates "accommodative" to the economy and that the "accommodation" would be removed at a "rate that is paced and measured to the economy." It sounds as if they could ying or yang as they please," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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