BHI Baker Hughes Incorporated

Wall Street News Alert's "stocks to watch" this morning are: Fidelis Energy Inc. (PINKSHEETS: FDEI), Chevron Corporation (NYSE: CVX), Baker Hughes Incorporated (NYSE: BHI) and McMoRan Exploration Co. (NYSE: MMR).

Yesterday after the markets closed, Fidelis Energy Inc. (PINKSHEETS: FDEI) issued a press release announcing the completion of new financing with total commitments of $30 million led by Swiss-based Empres Voss Capital (EVC).

The proceeds from this financing will be drawn down in traunches as required during the process of building a solar power plant in India. The Solar facility is located in the Thar Desert near Jaisalmer, India. The region is destined to become the world's biggest solar power house as it basks in an average of 330 days of sunshine per year and receives up to 6.2KW per hour of solar energy per square meter everyday, which is the highest in the world. Further details of the financing will be released as they occur.

Last week the company also reported that it has closed on the acquisition of a stake in a Solar Park in Spain. Previously detailed in its press release dated October 21, 2009, Fidelis entered into a binding Letter Of Intent ("LOI") with ASD Lusiona Solar ("ALS") to acquire an 8% stake in its wholly-owned subsidiary, ASDR Barranca Solar, which owns a 2MW producing photovoltaic solar facility located in Spain. Under the agreement, Fidelis also has an option to buy the remaining stake in ASDR.

The stock closed yesterday at around Two cents a share.

For an in-depth profile of Fidelis Energy, visit http://wallstreetnewsalert.com/view-company-profiles.php?profile=FDEI_011910.

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Chevron Corporation (NYSE: CVX) up 0.5% on 8.7 million shares traded. Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business across the globe.

Baker Hughes Incorporated (NYSE: BHI) up 1.6% on 3.5 million shares traded. Baker Hughes provides reservoir consulting, drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

McMoRan Exploration Co. (NYSE: MMR) up 9.7% on 8.7 million shares traded. McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area.

Market Commentary:

Oil for February delivery rose $1.02, or 1.31%, and settled at $79.02 a barrel, after falling to $76.76, the lowest level this year.

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