The stock price challenge was for year end I believe was it not? By that time we should have at least 4 more horizontals drilled...who knows what else Talisman might be planning, and to see a double from here after all that (assuming results are commercial which after the first horizontal I think it is more than safe to say so). At the same time, I think that most buyers from here on in will be buying for the long term hold rather than based on speculation. Like we mentioned, 7.5 million shares bought higher than $5 so I think seeing us around here is a good base. We pretty much hit $4 and hovered around $3-$4 based on speculation (giving us a $800M market cap on the high) and now with news really removing a lot of speculation out, hovering around these levels or going up with the market or gas prices will make a lot of sense.

I believe the next horizontal well was actually drilled, but just needs to be frac'd. I can only assume that Talisman is extremely happy with the results that they got. I was thinking a lot about the learning curve, but it seems like they almost ran by it lol. Looking at the learning curve and results of horizontals for southwest energy, they barely got results this high in there 5th year of drilling...but for us to get it out in the first well was pretty impressive.

Talisman will spend $50M+ for the 4 horizontals...which is nice, but I think we might see a bit more being that they might have not expected the results we got. The incentives that Quebec is presenting is solid, but who knows maybe the gov't might push it back to the end of 2011 which would be really huge. Talisman is putting the bulk of the cash in the NY Marcellus but I think out of their land holdings Quebec is the cheapest place to drill so it'll be interesting to see how it factors into this years program. Remember the horizontals we had got moved up by 6 months after the results they got from the original verticals so these recent results might have that same effect for how they proceed this year.

Quebec gov't really seems to be encouraging this project to happen with all there conferences and incentives, and it's not to be underestimated when the decisions to drill 1000+ wells a year come into affect. Having a supporting gov't will more than help with getting the project going as fast as possible.

Rocco