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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery lost $1.93 to $94.48 on the New York Merc, while Brent for October lost four cents to $101.56 (all figures in this para U.S.). Western Canadian Select traded at a discount of $18.30 to WTI ($76.18), unchanged. Natural gas for September added 8.5 cents to $3.87. The TSX energy index added 5.73 points to close at 315.52.

Mickey Dunn's Bellatrix Exploration Ltd. (BXE) added 82 cents to $8.73 on 6.57 million shares, after adding 41 cents shares yesterday. The excitement has a few different sources. Over the weekend, a contributor on the Seeking Alpha website praised the "deeply undervalued" stock in a bullish article that was picked up by outlets such as Morningstar. The article noted that Bellatrix has fallen to $7.50 (the close on Friday) from nearly $11.30 three months ago, mainly because of a confusing bought deal in which the use of the proceeds was not specified until much later. The company also faced infrastructure-related production problems. Management explained during a conference call two weeks ago that the financing is expected to result in an acquisition this summer, and that Bellatrix is building its own gas plant to alleviate the infrastructure constraints. The company maintained its year-end production target at 48,000 barrels of oil equivalent a day.

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