Hey guys!

Well JQ my friend, the numbers get pretty astonishing that really it's hard to believe lol. To calculate using a simple calculation...say for the unbelievably conservative estimate of a netback of just $1 (ridiculous, but I'm just doing it for arguments sake). So for 1tcf=$1 billion dollars. So for 10tcf(just to our share of 10tcf...because I believe they said the entire gas recov. could be 35tcf...anywho)...as I was saying, for 10tcf it would be $10 billion. We have about 200M outstanding shares right now...say over the period of the project we'll need to raise money through PP's etc...this is normal....for calculations sake, say we get that O/S up to 500M.

Just take $10billion/500M=$20 (this doesn't include any other properties etc...and please be aware this is a VERY GENERAL calcultion). So if you look back you see netbacks of $1...so if you do the math again, for every dollar this goes up, the SP will translate to $20 more for the SP.

The numbers do get really really big. For some it's hard to comprehend...I'm one of those ppl lol. The utmost important thing to consider is ACTUALLY proving up the reserves as much as humanly possible, because this'll be one of the driving forces for the SP...even more so I believe than just whatever the current production or sales is at the time....by doing this, if a bid was made for QEC, the shareholders and the purchasing company would know just exactly how much gas they can get at (proven), which would add the takeover price.

Just a few thoughts of mine...nothing people don't already know though.

Oh and I agree with you JQ, I think if people can read inbetween the lines, they'd see that a shareholder rights plan is a big deal...as it shows the company is strongly anticipating that a takeover could be possible in due time.

Have a good night gents!

Rocco:)