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by Stockwatch Business Reporter
West Texas Intermediate crude for May delivery gained $1.95 to $68.47 on the New York Merc, while Brent for June gained $1.90 to $73.48 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.65 to WTI ($51.82), unchanged. Natural gas for May closed unchanged at $2.74. The TSX energy index gained 6.79 points to 196.80.
B.C. Montney producer Painted Pony Energy Ltd. (PONY) gained 11 cents to $2.29 on 2.2 million shares after releasing a promising test result from the first well at its early-stage Beg block in the Montney. The well produced over 1,900 barrels of oil equivalent a day (82 per cent gas) in the last day of a week-long flow test. In the final eight hours of the test, the well flowed at a rate of over 2,000 barrels a day. Painted Pony cheered the results for being "significantly above" its expectations, which one presumes were not set unreasonably low. Twelve kilometres southwest of the Beg block is the company's core Blair area, where six new wells in November were producing 1,883 barrels a day (88 per cent gas) per well.
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