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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added five cents to $59.43 on the New York Merc, while Brent for August added six cents to $66.55 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.00 to WTI, down from a discount of $12.95. Natural gas for July added three cents to $2.32. The TSX energy index lost 3.78 points to close at 139.00.

Alfred Sorensen's Pieridae Energy Ltd. (PEA) remained halted at 86 cents. It requested a trading halt yesterday morning, ahead of yesterday's after-the-close announcement of a $190-million asset acquisition that Pieridae views as a "major step forward" for its LNG (liquefied natural gas) export ambitions on Canada's East Coast. The company is planning to buy Shell Canada's upstream and mid-stream assets in the Southern Alberta Foothills. The assets are producing nearly 29,000 barrels of oil equivalent a day, mostly gas. With the addition of these assets, Pieridae expects to have enough feedstock to supply the first phase of its proposed two-phase, 10-million-tonne-per-year Goldboro LNG plant in Nova Scotia.

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