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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery added $1.14 to $64.80 on the New York Merc, while Brent for October added $1.07 to $68.80 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.00 to WTI, down from a discount of $13.80. Natural gas for September was unchanged at $2.69. The TSX energy index added 1.10 points to close at 277.86.

Energy investors continued to pore over the $7.9-billion takeover bid for oil sands producer MEG Energy Corp. (MEG), up 25 cents to $28.15 on 14.9 million shares, from its neighbour Cenovus Energy Inc. (CVE), up 47 cents to $23.15 on 33.2 million shares. On Friday, both stocks climbed after Cenovus offered $20.44 cash and 0.33125 of a share of itself for every MEG share, valuing MEG at $27.25. The deal would close early next quarter and create a "pre-eminent" 720,000-barrel-a-day oil sands producer with "the largest land base in the best-quality resource area in the basin," proclaimed the companies in a jubilant press release.

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