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by Stockwatch Business Reporter
West Texas Intermediate crude for October delivery added 67 cents to $94.55 on the New York Merc, while Brent for October lost 26 cents to $102.46 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.65 to WTI ($77.90), unchanged. Natural gas for October added 8.7 cents to $4.04. The TSX energy index lost a fraction to close at 321.93.
Athabasca Oil Corp. (ATH) added 18 cents to $7.59 on 4.74 million shares. Nearly two months have passed since the date the company originally expected to receive a $1.23-billion cheque from PetroChina for selling its Dover oil sands project interest, and that cheque may finally be on its way, according to today's rumours. This is not the first time such rumours have flown. Since June 30, the expected payment date, PetroChina has reportedly been everywhere from on the brink of paying to on the verge of backing out entirely. Athabasca's share price has tracked each rumour. Today, PetroChina's vice-chairman and president, Wang Dongjin, said during a first-half earnings briefing that the payment "will be made soon," according to Reuters. PetroChina has been holding off while it reassesses Dover amid a Chinese-government-led corruption probe. Earlier this month, a source told Reuters that PetroChina would make the payment this month or in September.
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