What Mike said,

We've had a very good year.

Gentilly rates BEAT commercial hurdle.

Major news from TLM from 3 test wells ( 2 on QEC land) will show results of horizontal drilling by 4th quarter but only 1 zone.

Decision to commercialize has already been made. Will take until 2010 to get pipelines built.

Rough estimate of gas price needed: if they get rates of 2 million per day from each well which is very likely with horizontal drilling they obnly need a gs price of 3.50 or $20 a boe.

One of Mikes last comments was " we don't need a high gas price for the project to go forward.

Conclusion:

You've all made a great decision to invest in a great company.

Cheers

JQ:)