Apr. 1--The year's first quarter came in like a bear, and went out like a smaller bear.

"The last three weeks of March was one of the greatest bear market rallies since the Great Depression," Tulsa money manager Jake Dollarhide said.

But those gains still left the Dow Industrials and S&P 500 with double-digit percentage declines over the past three months.

Despite the choppy market, investors in a select group of Oklahoma-based companies earned significant gains.

Shareholders of Tulsa's Syntroleum Corp., Enid's Hiland Partners and Pryor's Orchids Paper Products are hoping that the momentum gained by those businesses continues into the next quarter.

Shares of Syntroleum, a beleaguered alternative energy company, posted a 170 percent gain in the quarter, ending the period at $1.46 after languishing below $1 for several months.

Ron Stinebaugh, Syntroleum senior vice president of finance, said the company's ability to secure funding for a Louisiana plant that will convert animal fats to synthetic fuels help boost the stock price.

"Any doubts about whether we can fund that plant, we put those to rest," Stinebaugh said.

Syntroleum received payments from several businesses that licensed the company's proprietary method of converting biomass, coal, natural gas and other carbon-based feed stocks into diesel or jet fuel, Stinebaugh said.

Hiland Partners, an energy-related master limited partnership, jumped 57 percent in the quarter. Orchids Paper Products, which produces paper towels, napkins and toilet tissue for retailers, notched a 50 percent gain.

The biggest loser The hardest-hit public company in Oklahoma ended the quarter in bankruptcy court.

Crusader Energy Group, an Oklahoma City oil and natural gas company, filed for Chapter 11 protection Monday.

The company was battered by falling commodity prices and an inability to find funding as it was squeezed by its leading lender.

Crusader shares tumbled 86 percent in the quarter, closing Tuesday at 16 cents.

Chief Executive Officer David Le Norman said bankruptcy should allow the company to maintain its operations while seeking to sell assets.

"It's unfortunate that a series of unrelated events resulted in the company seeking protection under the United States Bankruptcy Code," Le Norman said.

Shares of two other Oklahoma City energy companies also posted major slides in the quarter.

GMX Resources, which recently cut its capital budget, fell 74 percent over the past three months to close at $6.50. That's near the 52-week low of $5.96 and well off the 12-month high of $88.35.

Quest Energy Partners, which has been dealing with corporate misappropriations of former executives that produced unreliable earnings reports, shed 57 percent during the quarter to close at 93 cents.

Bob Rader, senior vice president of Capital West Securities in Oklahoma City, said the stock market remains a dicey proposition despite the recent rally.

"I think the overall market got itself into an oversold position," Rader said. "But I think it will test the lows again. I don't think we're out of the hunt yet."

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