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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 56 cents to $92.27 on the New York Merc, while Brent for October lost 97 cents to $97.11 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.50 to WTI ($78.77), up from a discount of $13.60. Natural gas for October added 3.4 cents to $3.85. The TSX energy index lost 1.36 points to close at 308.90.

Rob Zakresky's Leucrotta Exploration Inc. (LXE) added seven cents to $2.29 on 1.86 million shares. The company has more than doubled its landholdings in the northeast B.C. Montney by acquiring 54,400 net acres in the greater Dawson area, paying $16.5-million cash and issuing 4.7 million shares. It now holds 100,000 net acres or 155 net sections in the Dawson-Sunrise area. Only about 10 sections have seen any drilling activity. Leucrotta listed less than four weeks ago as part of the acquisition of Crocotta Energy by Long Run Exploration Ltd. (LRE: $4.99), which was interested in Crocotta's Alberta Edson assets and spun out the B.C. Montney assets in Leucrotta, led by Crocotta's former management. Work up to then consisted of three wells drilled at the Doe property and six (one of which was vertical) at the Sunrise property, and production was about 2,300 barrels of oil equivalent a day. Leucrotta plans to drill three wells in the fourth quarter and eight next year so it can end 2015 with production of 5,000 barrels a day. Other plans next year include tripling the capacity of its gas plant to 60 million cubic feet a day from 20 million. All told, it plans to spend $90-million next year, using cash flow, the $35-million proceeds from a recent warrant exercise, and the $58-million proceeds from two private placements. The first placement, which involved $45-million of subscription receipts, closed in July. The second placement, a $13-million deal with insiders, is scheduled to close today.

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