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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added 21 cents to $46.43 on the New York Merc, while Brent for July added 24 cents to $49.34 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.55 to WTI ($36.88), down from a discount of $9.25. Natural gas for June lost 10 cents to $3.17. The TSX energy index added 3.15 points to close at 197.58.

Keith MacPhail and Ronald Poelzer's Alberta-focused Bonavista Energy Corp. (BNE) added 21 cents to $3.24 on 2.92 million shares, on top of the 44 cents it added on Friday. It released its first quarter financials on Thursday after the close. The financials were mixed, with production of 70,300 barrels of oil equivalent a day (in line with analysts' predictions of 71,000 barrels a day) and cash flow of 27 cents a share (noticeably below analysts' predictions of 32 cents a share). Investors took heart from an accompanying operational update. Bonavista pegged its current production at 74,000 barrels a day, with another 4,000 barrels a day waiting to be brought on stream. This gives the company confidence in its goal of exceeding 80,000 barrels a day by year-end. The "vehicle for growth," as it is called on Bonavista's website, is the Ansell Wilrich formation in the Spirit River play. Bonavista said its recent wells at Ansell have shown 30-day initial production rates that are 45 per cent higher than those achieved in 2016.

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