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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added 27 cents to $42.50 on the New York Merc, while Brent for October lost three cents to $49.19 (all figures in this para U.S.). Western Canadian Select traded at a discount of $19.40 to WTI ($23.10), up from a discount of $19.90. Natural gas for September added 1.4 cents to $2.801. The TSX energy index lost 1.15 points to close at 180.18.

Henry Hamm's Granite Oil Corp. (GXO) added 79 cents to $5.50 on 396,300 shares, and his Boulder Energy Ltd. (BXO) added 38 cents to $5.05 on 694,100 shares, after posting their first quarterly results since their reorganization. Both were created in mid-May after a company called DeeThree Exploration split itself in two, spinning out its assets in the Alberta Bakken into Granite and its assets in the Alberta Belly River into Boulder. The premise was simple: Granite would use EOR (enhanced oil recovery) techniques to coax fairly steady, dividend-supporting production out of the Bakken (with an initial dividend of three cents a month), while Boulder would focus entirely on boosting production from the Belly River (where DeeThree had taken production to 8,000 barrels of oil equivalent a day from 1,000 in just four years).

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