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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 66 cents to $70.70 on the New York Merc, while Brent for June lost 35 cents to $77.12 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.05 to WTI ($54.65), unchanged. Natural gas for June lost one cent to $2.81. The TSX energy index lost a fraction to 201.71.

Alberta- and Saskatchewan-focused Tamarack Valley Energy Ltd. (TVE) gained five cents to $3.94 on 4.03 million shares, adding to the 17 cents that it gained yesterday after releasing its first quarter results. It produced 23,532 barrels of oil equivalent a day (63 per cent oil and natural gas liquids), exceeding its full-year target of about 23,000 barrels a day, despite being forced to shut in 400 barrels a day because of low gas prices. Canaccord Genuity analyst Anthony Petrucci patted the company on the back for "continuing to deliver." He maintained his buy rating and raised his price target to $5.50 from $4.25, having taken into consideration the upward trend in oil prices. Tamarack has climbed to $3.94 today from about $2.70 since the beginning of April. It peaked at $7.87 in 2014.

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