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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost $3.21 to $70.34 on the New York Merc, while Brent for November lost $3.77 to $73.75 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.80 to WTI, up from a discount of $14.10. Natural gas for October added seven cents to $2.20. The TSX energy index lost 8.58 points to close at 274.98.

Canadian energy stocks fell with commodity prices, despite a flurry of news to kick off the shortened work week. Jim Riddell's Alberta Montney and Duvernay producer, Paramount Resources Ltd. (POU), lost 94 cents to $26.79 on 453,600 shares. Today it made a show of unveiling an expansion of its holdings in the Montney. It has stitched together 127 sections, or about 43,000 hectares, in the Sinclair area, an effort that (in Paramount's proud telling) required patient, tactical, under-the-radar land purchases over a period of years. This activity is "consistent with [our] strategy of identifying new opportunities at an early stage and capturing large holdings at a low cost," boasted management. It pegged the total cost at $51-million.

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