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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost $1.14 to $50.82 on the New York Merc, while Brent for March lost $1.30 to $53.64 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.05 to WTI ($36.77), unchanged. Natural gas for February added 18 cents to $3.28. The TSX energy index lost 2.02 points to close at 213.41.

Colombia-focused Parex Resources Inc. (PXT) lost 69 cents to $16.16 on 712,200 shares, after releasing an unusually underwhelming batch of drill results. Although the company opened with the satisfying (if unsurprising) news that it had produced 31,000 barrels of oil equivalent a day in the fourth quarter, exceeding its target of 30,500 barrels a day, investors seemed disheartened by the initial results of the Aguas Blancas appraisal program in the Magdalena basin. Parex bills this basin as its "next growth platform." As discussed in more detail in the Jan. 4 Energy Summary, all "growth" so far has been in the Llanos basin, particularly the 55-per-cent-owned LLA-34 block. The operator of this block is joint venturer GeoPark, which put out its own press release this morning indicating that its share of production from LLA-34 averaged roughly 16,650 barrels a day during the fourth quarter. This means that Parex's share averaged around 20,350 barrels a day, or nearly two-thirds of total production.

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