Just listened to the speech again, here are some key points

Langdon introduces by saying this is potentially the birth(question mark)of this industry in the Port-Au-Port area, and that this was a significant resource play discovery in the Green Point Shales

The platform, which I'm assuming is the St. Georges group, was logged below the intermediate casing(open well-bore, I think he said), and that the results are currently under review. Even though they reported no economic hydrocarbons, the results will be used to check for other targets in the platform. I think he said they drilled on the East side of the faultline.

Then he mentions fantastic results from casing logs of the shales. they were done by an analyst from Calgary and included a barrage of tests that showed way more shales than anticipated.

It looked like the possibility of light oil at the top of the zone. More than 1% gas throughout the whole well-boreand oil stains at the top of the zone of the Gren Point Shales which were about 500 meters thick regionally. Figured there was about 280-5 m of potential hydrocarbon bearing source rock.

He compared this play with the Bakkens and said Green Point is much thicker. He mentioned both the Bakkens and Barnett shales where technology is leading to production in these areas and could be used here as well. He believes it would be a light oil/oil-gas scenario.

He talked about 120,000 acres but later said 100,000 acres and compared that to Forest Oil (Ibelieve who he said have 339 gross acres in the Quebec play) to put the size of this play in perspective.

He closed by saying that production could possibly begin with the next drill and outlined his artists conception for horizontal drilling in the area from land throughout the bay.

If production could be started, tanker trucks would be used in the beginning with a pipeline to S'Ville in the future.

He again reiterated the 1-2 billion barrels.

Me two fingers are wore out and I apologize if I have buggered up or misinterpreted any of the speech.

Looks promising though again.

Mike