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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery added $2.06 to $45.78 on the New York Merc, while Brent for January added $2.25 to $46.95 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.35 to WTI ($30.43), down from a discount of $15.25. Natural gas for December lost four cents to $2.71. The TSX energy index added 6.99 points to close at 210.27.

Colombia-focused Gran Tierra Energy Inc. (GTE) added 40 cents to $4.26 on 2.8 million shares, after stirring up some excitement and likely some oil in the N sands play of the Putumayo basin. The N sands play is a proven producer in Ecuador, but is still in its early stages in Colombia, although Gran Tierra does have some Colombian production from the play thanks to its 15.8-per-cent-owned Suroriente block, acquired earlier this year through the takeover of Petroamerica Oil. The Quinde field on this block is right beside the area where Gran Tierra is exploring for N sands now. This area is within the PUT-7 block, onto which the Quinde field extends, according to seismic data. Gran Tierra has been chattering about an N sands exploration program for over a year and was finally able to spud the first N sands exploration well at the PUT-7 block, the Cumplidor-1 well, on Oct. 20. Now the initial results are in: The Cumplidor-1 well encountered a gross interval of 65 feet, with two sands hitting 34 feet of interpreted net oil pay. Gran Tierra said these results were about 15 per cent better than it had expected, and added that the reservoirs found in Cumplidor-1 seem thicker than those in the Quinde field. The well will now be tested over the next two weeks. On-line models and estimates from analysts suggest that a test rate in the neighbourhood of 1,500 barrels a day would be very satisfactory. Following testing, Gran Tierra plans to spud its second N sands exploration well, Alpha-1, from the same pad as Cumplidor-1. Both of these wells could "move the needle in terms of production and reserve addition," gushed Gary Guidry, the president and chief executive officer of Gran Tierra, in a quarterly conference call last week. They will also be useful in determining the spending program for 2017. Gran Tierra has yet to release its 2017 guidance, but this morning, Scotia Capital analyst Gavin Wylie predicted that the company could drill up to a dozen N sands wells next year, if Cumplidor-1 and Alpha-1 show decent results. Investors will find out when Gran Tierra releases its guidance in about a month.

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