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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost $1.10 to $43.19 on the New York Merc, while Brent for January lost 99 cents to $44.64 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.30 to WTI ($27.89), down from a discount of $15.25. Natural gas for December lost two cents to $2.64. The TSX energy index lost 2.63 points to close at 200.84.

Crescent Point Energy Corp. (CPG) added 22 cents to $14.93 on 5.62 million shares, regaining some of the 91 cents it lost yesterday after investors reacted to its third quarter financials by sending it below $15 for the first time in nine months. It had already fallen from its August level of $22. The biggest stumble came in September, when Crescent Point announced a $650-million bought deal, comprising 33.7 million shares at $19.30. Investors were not appeased by president and chief executive officer Scott Saxberg's assurances that the money would support "strong organic growth." Organic means that the company will focus on existing assets, a change from its "inorganic" habit of spending billions on acquisitions. It has tended to finance the acquisitions by issuing equity, which in turn has caused its share count to rise to over 500 million from around 125 million in mid-2008. Mr. Saxberg said in April that Crescent Point was taking a break from acquisitions and that investors were "not going to see us do a big equity funding to pay for a deal." Evidently, investors were not expecting to see a big equity funding to pay for "organic growth," either.

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