Hey G_M,

Yeah you're right. I think he just mentioned how that's how much the deal was with Canbrium. One of the reasons we're seeing a drop is no buyers, so even a few sellers (175K today), can cause a price drop. If it goes down again tomorrow, I'm buying more. No point trying to call a bottom...especially when these prices are cheap as is imo.

If anyone downloaded the presentation, check out slides 13 and 16. Great mention to Southwestern in the Fayetteville shale....the learning curve and rates graph on pg 16 is excellent. It explains the statement they made on the last PR, about being ahead of other shale plays in early results.

Also importnant to remember, is that they used a Barnett style of fracing in regards to sand used, frac fluid etc...which of course will have to be altered and eventually a Quebec utica frac process will be produced. Looking at trend lines of other plays and the rates, quite easy to see that rates are increasing more and more over time, even in the Barnett after 20 years.

Will be very interesting to see the next horizontals. Fracing the 800mcf/d section, with 8 fracs and a proper clean up. I'm sure they'll tweak a few things from the first time around too.

Important to mention that he said the 800mcf/d gentilly was quite exceptional. That the next Talisman verticals will probably be less, but anything around 100mcf+ is a good result. To be perfectly honest, I had no idea (looking at other initial shale play results), of how low the rates initially are. Very interesting to see how progress is made as time goes on. Quebec will be no different imo. Just takes time:).

Anyone have anything else of interest that wasn't mentioned on the board in regards to the presentation?

Thanks,

Rocco