This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery lost 63 cents to $59.58 on the New York Merc, while Brent for September lost 24 cents to $66.48 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.25 to WTI, up from a discount of $12.32. Natural gas for August lost four cents to $2.41. The TSX energy index lost a fraction to close at 141.83.

Charle Gamba's Colombian gas producer, Canacol Energy Ltd. (CNE), edged down one cent to $4.51 on 116,900 shares, garnering mixed reactions to its latest drilling update. The company highlighted the test results from its new Ocarina-1 exploration/appraisal well and its Nelson-7 development well. The Ocarina-1 well was a previously unscheduled follow-up to Canacol's Acordeon-1 exploration well, which last month tested at a pleasing 33 million cubic feet a day. Ocarina-1 was spudded off the same pad as Acordeon-1, roughly one kilometre away, and has now tested at up to 30.4 million cubic feet a day. Both of these wells are within five kilometres of Canacol's productive Clarinete gas field on the VIM-5 block. As for Nelson-7, drilled on the Esperanza block, it has now tested at 29 million cubic feet a day. The VIM-5 and Esperanza blocks together contributed nearly 90 per cent of the 113 million cubic feet a day that Canacol produced in 2018.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS