G_M
The following is an excerpt from the X-Terra site - analysis of the Utica play. I bolded the comparative size of land holdings for both JNX and QEC in the "sweet spot" of the Utica play. So while JNX may have more total land in all Quebec areas combined, QEC apparently has significantly more in the sweet spot. One possible explanation for the difference in how the market sees QEC to JNX to PCQ
Figure 19: Tier One – company exposure
Unrisked Utica
Net Acreage Locations Unrisked Risked FD Exposure
Forest Oil Corp. FST-N 269,000
Gastem Inc. GMR-V 16,800
Junex Inc. JNX-V 77,705
Petrolympic Ltd PCQ-V NA NA NA NA NA 80.0 NA $0.54 NA
Questerre Energy QEC-T 155,758
Talisman Energy TLM-T 522,470
