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by Stockwatch Business Reporter

West Texas Intermediate crude for March delivery lost $1.67 to $71.03 on the New York Merc, while Brent for April lost $1.59 to $74.61 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.70 to WTI, up from a discount of $13.90, while natural gas for March added 10 cents to $3.36. The TSX energy index added 1.15 points to close at 270.85.

Oil sands producer Cenovus Energy Inc. (CVE) added 12 cents to $21.58 on 8.55 million shares, while Don Gray's Gear Energy Ltd. (GXE) lost three cents to 49 cents on 2.1 million shares. Gear announced today that it has completed the sale of itself and most of its assets to its suitor, which is listed in SEDAR documents as Cenovus but never mentioned by name in press releases, a pattern that continued today. Gear has also completed the spinout of its remaining assets into the soon-to-be-listed Lotus Creek Exploration Inc., which expects to start trading under the ticker LTC on Feb. 11.

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