Good discussion...

2 things I'd add to the mix:

o while the US gas in storage figures released last week was up on a report-to-report basis - it is *down* from the same time last year

o an Encana planner working on the Horn River project indicates that they are using $9-$9.50 as a price for gas to do their projections

BTW - as a comparison - the players in the Horn River are looking at much higher costs per well than those quoted in an earlier post. Because of the remoteness and the costs of transportation, weather, etc. costs may be double what they are in the Utica...the majors may, for example, need to pool resources to add a rail spur to haul sand for frac'ing. They are undaunted by the prospect. This field will have taken roughly 5 years to come into production from the initial decision to do so and that's with some learning time to do with the new technology.