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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost 20 cents to $78.93 on the New York Merc, while Brent for May was unchanged $82.96 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.70 to WTI, up from a discount of $17.10. Natural gas for April lost 11 cents to $1.82. The TSX energy index lost a fraction of a point to close at 267.44.

Mike Rose's Tourmaline Oil Corp. (TOU) lost 66 cents to $64.20 on 2.13 million shares, after releasing some closely watched year-end financials and a guidance update. Despite the Oil in its name, Tourmaline is Canada's largest gas producer, and shareholders and competitors alike have been waiting to see its reaction to depressed gas prices. These have prompted various U.S. gas majors to announce sizable production cuts. As some of these announcements have sent U.S. gas prices surging 10 per cent in a single day, gas bulls north of the border have been on the lookout for similar updates.

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