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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost 22 cents to $81.04 on the New York Merc, while Brent for May lost eight cents to $85.34 (all figures in this para U.S.). Despite these drops, both benchmarks easily notched a weekly gain. Western Canadian Select traded at a discount of $15.60 to WTI, up from a discount of $16.80. Natural gas for April lost eight cents to $1.66. The TSX energy index lost a fraction of a point to close at 273.81.

Scott Ratushny's Alberta oil producer, Cardinal Energy Ltd. (CJ), lost two cents to $6.75 on 929,200 shares, after releasing its year-end financials. They held few surprises, given that Cardinal already told investors in February that its fourth quarter production averaged 22,200 barrels of oil equivalent a day. This was in line with analysts' predictions, as was the resulting cash flow of 40 cents a share. Cardinal preened with pride over its assets' "quality, predictability and sustainability."

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