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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery added $1.17 to $68.37 on the New York Merc, while Brent for February added $1.02 to $72.14 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.50 to WTI, down from a discount of $11.20. Natural gas for January added 11 cents to $3.18. The TSX energy index added 1.17 points to close at 271.56.

Oil sands producer Cenovus Energy Inc. (CVE) added 28 cents to $21.53 on 9.84 million shares. A new SEDAR filing has revealed Cenovus to be the mystery suitor that is paying $110-million for Gear Energy Inc. (GXE), down three cents to 51 cents on 3.3 million shares. The "transformative" deal, which will include the creation of a spinout to hold some of Gear's assets -- and give its management and board their next company to run -- was announced by Gear last week, but the purchaser was not identified by name. Now a 150-page arrangement agreement on SEDAR has confirmed the counterparty to be Cenovus.

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