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by Stockwatch Business Reporter
West Texas Intermediate crude for November delivery lost $1.50 to $49.29 on the New York Merc, while Brent for December lost $1.38 to $55.62 (all figures in this para U.S.). Western Canadian Select traded at a discount of $11.30 to WTI ($37.99), unchanged. Natural gas for November lost six cents to $2.86. The TSX energy index lost 3.54 points to close at 186.19.
Alberta Montney producer Birchcliff Energy Ltd. (BIR) lost 20 cents to $5.30 on 5.5 million shares, a depressing end to a dismal week. The stock has fallen from $6.05 since last Friday. That was the day on which its major shareholder, the billionaire Seymour Schulich, disclosed on SEDI that he had sold 10 million shares earlier in the week (as discussed in the Oct. 2 Energy Summary). Now fresh SEDI filings have shown further sales by Mr. Schulich. He sold an additional 10 million shares at $5.63 this past Tuesday, lowering his position to 20 million -- or just half of what he owned a mere two weeks ago -- of Birchcliff's 265 million shares.
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