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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery added 19 cents to $45.83 on the New York Merc, while Brent for August added 29 cents to $48.15 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.45 to WTI ($35.38), unchanged. Natural gas for July added one cent to $3.04. The TSX energy index added 3.51 points to close at 183.39.

EnCana Corp. (ECA) added 59 cents to $12.63 on 10.4 million shares. It has agreed to sell its gas assets in the Piceance ("pee ants") basin of Colorado to the Denver-based Caerus Oil and Gas for $735-million (U.S.). The sale will also reduce EnCana's mid-stream commitments by about $435-million (U.S.). EnCana is so proud of the deal that it apparently cannot help but bubble over with admiration for the company at the other side of the table. "I'd like to congratulate Caerus on acquiring a high-quality natural gas asset," said Doug Suttles, EnCana's president and chief executive officer. He expects to close the sale next quarter and use the money to improve EnCana's balance sheet.

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