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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 31 cents to $93.65 on the New York Merc, while Brent for October lost 34 cents to $102.29 (all figures in this para U.S.). Western Canadian Select traded at a discount of $$17.50 to WTI (), up from a discount of 18.50. Natural gas for September lost 4.9 cents to $3.84. The TSX energy index lost a fraction to close at 319.46.

Twin Butte Energy Inc. (TBE) lost four cents to $1.87 on 8.04 million shares. The market may be intrigued by the company's recent activity at its Provost medium oil area in Alberta. This became a core area late last year after Twin Butte acquired Black Shire Energy, which at the time was producing 7,000 barrels of oil equivalent a day. The company hopes to boost the assets' production to 9,500 by year-end. This week, it licensed six wells at Provost, including one water injection well ending in the Dina formation and four oil wells targeting the Sparky. This is the fourth water well the company has licensed at Provost and the first for the Dina; the others were for the Cummings. Twin Butte has been focusing mainly on the Dina and Cummings plays. It is trying to expand its existing pools and, apparently, preparing for EOR (enhanced oil recovery) projects such as waterflooding. The Sparky is a new play of interest. Twin Butte drilled its first two Provost Sparky wells in July and said last week that it would bring them on production soon, but did not release any details about rates. It may have more to say next month. It is presenting at the National Bank Energy Income Conference in Montreal on Sept. 3, as well as the Peters & Co. Energy Conference in New York from Sept. 9 to 11.

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