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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery added 36 cents to $49.33 on the New York Merc, while Brent for June added 29 cents to $51.73 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.35 to WTI ($38.98), unchanged. Natural gas for June added four cents to $3.28. The TSX energy index added 1.47 points to close at 196.07.

B.C. Montney producer Leucrotta Exploration Inc. (LXE) lost three cents to $2.07 on 2.95 million shares. Much of the volume came from GMP Securities, which crossed 2.48 million shares at $2. Leucrotta's stock has spent most of the last several months well above $2, but it has had a relatively tough April, falling from over $2.40 in the last 3-1/2 weeks. On April 5, the company announced a $36-million asset acquisition (expected to close on May 31), as well as a $50-million financing that was quickly boosted to $80-million. This financing was completed two days ago and consisted of 33.3 million shares at $2.25 and 1.9 million CEE shares (Canadian exploration expense shares -- they come with tax advantages) at $2.70. SEDI shows that six directors and officers bought a total of 237,613 CEE shares and one director bought 25,000 regular shares under the offering. The largest participant was chairman Daryl Gilbert, who bought 90,000 CEE shares and now owns 803,434 of Leucrotta's 200 million shares. Mr. Gilbert is a managing director of JOG Capital, which owns another 14 million shares.

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