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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added $2.49 to $50.09 on the New York Merc, while Brent for May added $1.99 to $57.10 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.40 to WTI ($37.69), up from a discount of $12.80. Natural gas for May lost 3.5 cents to $2.60. The TSX energy index added 2.35 points to close at 219.88.

Wade Cherwayko's Mart Resources Inc. (MMT) lost 1.5 cents to 48.5 cents on 3.53 million shares. This is on top of the seven cents it lost yesterday after releasing a torrent of news, including its year-end financials and the results so far of its investigation into its ex-chairman and on-leave CEO, Mr. Cherwayko. The update did not make investors any less doubtful that Mart's planned 80-cent-a-share takeover by a joint venturer in Nigeria, Midwestern Oil, will go ahead. All of the above was discussed at length during a conference call this morning. It was hosted by Derrick Armstrong, who replaced Mr. Cherwayko as chairman on Feb. 20, and CFO Dmitri Tsvetkov, who replaced him as CEO (in the interim) on March 30.

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