By Nicole Strandlund Business Edge

Act I: Let the contracts continue

* The Player: Energy Savings Income Fund (TSX:SIF.UN)

* Action: Close to flat over the month (from $13.25 July 11)

* Recent Price: $13.15

* 52-Week High/Low: $17.66/$12.14 Not everyone in B.C. has a fixed-price energy contract, but those who have (and almost lost) favourable ones should be thanking an Ontario company.

CEG Energy Options Inc., a natural gas marketer based in Saskatoon, and its parent, Calgary-based SemCanada Energy Co., filed for creditor protection on July 30, 2008. That put in jeopardy fixed-price energy contracts in B.C. (with an average remaining life of 36 months) for around 4.8 million gigajoules annually.

Then Energy Savings Income Fund of Toronto moved in to save the day, agreeing to acquire substantially all of CEG's commercial and residential customer contracts in B.C. for $1.8 million.

The company is hoping that when the existing energy contracts expire and it is time to sign new ones, those with favourable prices will remember it was Energy Savings that stepped up. The acquisition was expected to close on Aug. 14, 2008, subject to court approval.

Act II: Dakota-Lakota who?

* The Player: Enbridge Inc. (TSX:ENB)

* Action: Up five per cent in a month (from $42.19 July 11)

* Recent Price: $44.23

* 52-Week High/Low: $46.27/$33.62 Management of the energy pipeline company must have been relieved when a Saskatchewan court recently ruled in the company's favour, considering it completed work on a project even while a claim to stop it was tied up in court.

The Standing Buffalo First Nation had tried to quash an Enbridge Pipelines (Westspur) Inc. pipeline expansion southeast of Regina, claiming a 60-km stretch of pipeline traversed traditional Dakota-Lakota land. But the court said it had no jurisdiction to consider Standing Buffalo's judicial review application, and agreed with Enbridge's original arguments.

The ruling notes Enbridge wasn't even aware Standing Buffalo, one of four Saskatchewan bands without a treaty, was interested in the project until it applied to the National Energy Board proceedings.

Apparently shareholders of Enbridge Pipeline's parent, Enbridge Inc., were never worried: Winning the suit had as much effect on the stock price as the First Nation's claim did on the expansion project's timeline.

Act III: Pink neighbourhood

* The Player: Potash One Inc. (TSX:KCL)

* Action: Down 28 per cent in a month (from $4.26 July 11)

* Recent Price: $3.05

* 52-Week High/Low: $6.25/$0.93 What do you do when someone strikes it rich on a piece of land? Buy the one next door and hope for the same.

Potash One Inc., a resource company that seeks and develops potash properties, obtained a subsurface exploration permit for the "Legacy Project": 97,240 acres in Saskatchewan adjacent to the world's largest producing solution potash mine (the Belle Plaine Potash Solution Mine northwest of Regina). The company also owns three other such permits covering 230,000 acres contiguous to the Legacy Project.

Recently, Golder Associates completed a technical evaluation of the site and found "no fatal flaws that would impact significantly on the project's feasibility and proposed timelines," says Potash One CEO Paul Matysek.

So it's full speed ahead for the Vancouver-based company, which just graduated from the TSX Venture to the TSX on June 18.

Act IV: Water, water everywhere

* The Player: Cameco Corp. (TSX:CCO)

* Action: Down 17 per cent in a month (from $40.88 July 11)

* Recent Price: $34.05

* 52-Week High/Low: $50.24/$31.39 Water is the liquid of life, but it can also be a royal pain.

Cameco Corp., the world's largest uranium producer, has recently been forced to halt repair work at its Cigar Lake uranium mine in northern Saskatchewan. The company, which has been working to repair the mine since a flood in 2006, said in a recent statement that it found water flowing into the mine at a rate "beyond the range that can be managed while sustaining work in the shaft."

The mine was expected to someday produce 18 million pounds of uranium annually (more than 10 per cent of world output), but the company says production can't begin until at least 2011. Cameco stock sank on the disappointing news, trading at $32.11, down $1.97 at press time.

NOTE: The above is not intended as investment advice to buy or sell any mentioned securities. Investors should do due diligence before investing. Quotes are based on results through Aug. 12, 2008.

(Nicole Strandlund can be reached at nicole@businessedge.ca)