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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added 30 cents to $70.70 on the New York Merc, while Brent for April added 35 cents to $74.78 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.70 to WTI, down from a discount of $10.30. Natural gas for March lost 24 cents to $3.99. The TSX energy index lost 2.53 points to close at 267.82.

Gary Guidry's pan-American oil producer, Gran Tierra Energy Inc. (GTE), tumbled $1.00 to $7.05 on 357,700 shares (and reached an intraday low of $6.74, its first time below $7 in more than a year). Investors were not at all impressed with the year-end financials that it released this morning. The company swung to a net loss of $34.2-million (U.S.) in the fourth quarter from a net profit of $7.7-million (U.S.) a year earlier. Cash flow of $1.28 (U.S.) a share came in sharply below analysts' predictions of $2.01 (U.S.) a share, and Gran Tierra spent well beyond its means, posting negative free cash flow of $26.2-million (U.S.).

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