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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added 33 cents to $49.56 on the New York Merc, while Brent for June added 50 cents to $52.10 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.35 to WTI ($39.21), unchanged. Natural gas for May lost three cents to $3.04. The TSX energy index added 2.86 points to close at 199.67.

Cenovus Energy Inc. (CVE) added 11 cents to $14.26 on 4.79 million shares. Its proposed $17.7-billion asset acquisition from ConocoPhillips has taken an interesting twist. The acquisition has been disliked from the start by shareholders, who have sent the stock down to around $14 from nearly $17.50 since the deal was announced last month. Now one shareholder is asking the Ontario Securities Commission (OSC) to halt the deal pending a shareholder vote. Len Racioppo, managing director and founding partner of the Toronto-based Coerente Capital Management, which controls 524,000 of Cenovus's 1.02 billion shares, told the Financial Post today that Coerente has sent a letter to the OSC to complain about the dilution involved in the acquisition and to demand that shareholders be given a say.

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