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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery added 83 cents to $73.96 on the New York Merc, while Brent for March added 58 cents to $76.51, both benchmarks notching their second weekly gain in a row (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.00 to WTI, up from a discount of $13.70. Natural gas for February plunged 31 cents to $3.35. The TSX energy index added 1.58 points to close at 273.01.

Scott Ratushny's Alberta- and Saskatchewan-focused Cardinal Energy Ltd. (CJ) added nine cents to $6.75 on 1.72 million shares. It has closed a previously announced $60-million bought deal of debentures with warrant sweeteners, with the proceeds reflecting the original tally of $50-million plus the full exercise of the overallotment option. Cardinal will use the money to pay down some of its credit facility (temporarily) and continue building its 6,000-barrel-a-day Reford thermal project in Saskatchewan.

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