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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added 90 cents to $56.16 on the New York Merc, while Brent for June added 65 cents to $62.73 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.65 to WTI ($44.51), unchanged. Natural gas for May added 3.1 cents to $2.60. The TSX energy index added a fraction to close at 237.39.

Scott Price's Gran Tierra Energy Inc. (GTE) added one cent to $4.34 on 4.36 million shares. It is up from $3.46 at the beginning of the month, and it looks as though the buying support came partly from West Face Capital, a Toronto-based hedge fund that filed an EDGAR report yesterday noting ownership of 27 million of Gran Tierra's 276 million shares. A subsequent filing showed that the shares were acquired from March 17 to April 17 at an average price of $3.08 (U.S.). Unfortunately for Gran Tierra's board and management, West Face is no gentle supporter. It published a lengthy letter after the close yesterday, criticizing the "ineffectual governance" that has helped lead to a "significant destruction" of more than half of the company's value. It wants Gran Tierra to focus on its core Colombian operations, stop messing about in Peru and Brazil, and fix its "bloated" cost structure. As well, it is nominating six candidates for election as directors at the June 24 meeting and is seeking to replace CEO Duncan Nightingale.

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