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by Stockwatch Business Reporter
West Texas Intermediate crude for May delivery gained $1.77 to $65.17 on the New York Merc, while Brent for May gained $2.05 to $69.47 (all figures in this para U.S.). Western Canadian Select traded at a discount of $24.60 to WTI ($40.57), unchanged. Natural gas for April lost four cents to $2.64. The TSX energy index gained 5.53 points to 180.21.
Strata-X Energy Ltd. (SXE)gained 2.5 cents to six cents on an all-time-high volume of 15.09 millionshares. It has expanded its Serowe coal seam gas (CSG) property in Botswana's Kalahari basin to 680,000 acres from 273,265 acres. Elsewhere in the Kalahari basin, an Australian company called Tlou Energy began producing power at its Lesedi CSG project in June, 2017. Lesedi is the first gas-to-power producer in Botswana, and perhaps Strata-X is hoping that Serowe would be the next. Last month, Tlou Energy released a reserves update in which it boosted its proved plus probable gas reserves to 40.8 billion cubic feet from 3.8 billion cubic feet. As for Strata-X, it does not yet have a reserves estimate. It plans to begin an appraisal program in the third quarter, then it will use the appraisal results to produce its first reserves estimate.
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