And again...

QEC - Better-than-expected EBITDA
Inbound 26.11.2009 09:29

Higher than expected production contributed significantly to Questerre presenting a somewhat better than expected EBITDA in connection with its Q3 report. The next big news we expect from the company are the results from the horizontal well in the Utica-field in Quebec during the first quarter. On the basis of the conclusion from this and the next well, a decision will then be made regarding the completion of four additional wells during the next year. At current stock levels, we believe the market has priced in too high a discount compared the potential value of these natural gas deposits. DnB NOR Markets reiterates a buy recommendation with a target valuation of NOK 23 per share.

(4.31 CAD using the exchange rate available at time of writing).

NB. This update is displayed within my online trading window and I'm therfore unable to provide a link - sorry!

Dr. Who?

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Best regards

DnB NOR Markets
Stock Trading Online

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