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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 55 cents to $45.88 on the New York Merc, while Brent for July lost 61 cents to $48.73 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.55 to WTI ($36.33), unchanged. Natural gas for June added six cents to $3.23. The TSX energy index lost 2.19 points to close at 195.39.

Crescent Point Energy Corp. (CPG) lost 22 cents to $13.11 on 5.41 million shares, giving back the 22 cents it added yesterday after striving to impress investors at its inaugural technical day in Calgary. Today it is doing the same in Toronto. Crescent Point is promoting the two-day event as offering "insight into our assets and long-term growth plans." In the far more sophisticated language of analyst-speak, this translates to "Organic Opportunities to Rebuild Multiple," according to the title of the research note published by Scotia Capital analyst Patrick Bryden this morning. Crescent Point has a lot of rebuilding to do. Its $13.11 stock (which was as high as $48 in mid-2014) is approaching levels not seen since WTI oil prices were below $30 (U.S.), pointed out Mr. Bryden. He pinned part of the blame on ineffective "messaging." Now Crescent Point has a new message, in the form of the five-year plan that it outlined at the investor day. It is aiming to increase production per share by 4 per cent to 11 per cent (depending on WTI prices), all while spending within its means and maintaining its dividend. The current three-cent monthly dividend yields 2.7 per cent.

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