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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery added 84 cents to $46.25 on the New York Merc, while Brent for October added 94 cents to $50.50 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.10 to WTI ($32.15), up from a discount of $14.55. Natural gas for October lost 5.4 cents to $2.648. The TSX energy index lost 1.69 points to close at 172.78.

Wayne Foo's Parex Resources Ltd. (PXT) added 27 cents to $9.22 on 1.41 million shares. It has not released any news in almost a month, but has still risen from $7.38 since Tuesday of last week, benefiting from stronger recent oil prices and possibly from the updates released by joint venturer GeoPark in Colombia. GeoPark holds 45 per cent and Parex 55 per cent of the LLA-34 light oil block. This block contributes over half of Parex's production, which was 27,025 barrels of oil a day in the second quarter. Last Thursday, GeoPark announced a new oil discovery made by the Chachalaca-1 exploration well, and this morning, it announced another new discovery made by the Jacana-1 exploration well. Chachalaca-1 tested at 1,100 barrels of oil a day and Jacana-1 at 1,880 barrels a day. They are the seventh and eight discoveries, respectively, made by the joint venturers on the block since mid-2012.

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