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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added 10 cents to $82.81 on the New York Merc, while Brent for December added 82 cents to $86.22 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.35 to WTI ($67.46), down from a discount of $14.85. Natural gas for November added 4.1 cents to $3.71. The TSX energy index added 5.56 points to close at 267.49.

Donnycreek Energy Inc. (DCK) added 70 cents to $2.60 on 3.95 million shares, after agreeing to a merger with joint venturer Contact Exploration Inc. (CEX), down 8.5 cents to 35 cents on 7.14 million shares. The resulting issuer will be named Kicking Horse Energy Inc. For each Donnycreek share, holders will receive 0.6 of a Kicking Horse share, and for each Contact share, holders will receive 0.075 of a Kicking Horse share. Contact has also arranged a $20-million bought deal of 54 million shares at 37 cents. Donnycreek holds 50 per cent of the Kakwa Montney property in Alberta's Deep basin and Contact holds 25 per cent. The first well at this project was drilled in May, 2012, and gross production has since increased to about 4,000 barrels of oil equivalent a day. The other 25-per-cent owner is Questerre Energy Corp. (QEC), up six cents to 79 cents, perhaps on optimism about an even larger deal. The Kakwa project is surrounded by land held by Seven Generations Energy Ltd. This company is working on an $800-million initial public offering, and cheerleaders of the Kakwa property trio have dreams of takeovers. Seven Generations, however, will have less money to spend than it originally hoped. The markets turned ugly at exactly the wrong moment. Although the company was originally rumoured to be aiming a share price of $25 to $30, it now says $17 to $21, with the final price to be announced next week. By comparison, it traded at $42 on the grey market in mid-August (or $21 after adjusting for a 2-for-1 stock split in September), according to Liquidity Source.

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