My third post today! This one is from DnB NOR and shows up within my internet bank so I can't provide a link.

• We expect Questerre to report an EBITDA of CAD -0.8 million and a net loss of CAD 3.9 million for Q4/09. The company is scheduled to submit quarterly results on Friday 26 February. Production in Q4 is expected to have remained stable in relation to the level in Q3. Company produced 632 barrels per day (boepd) in Q3 and we estimate 640 barrels per day for Q4.

• The main focus in connection with the report will be on the testing that is currently being carried out on the horizontal St. Edouard well in Quebec. The results from here are expected in the latter half of February, and we expect an announcement either just before or in conjunction with the Q4 - presentation. A flow rate of over 1.5 mmcf / d will, in our opinion be positive for the stock price, but we will probably have to see at least 2 mmcf / d to get a bigger boost in the valuation.

• DnB NOR Markets has a buy recommendation on Questerre and a target price of NOK 29 per share. In our view, the risk ratio in the stock is attractive ahead of the upcoming test results from Quebec.