G_M,

the Privated Placement, with an halted pps, is done to permit to some big investors to buy a great number of new shares at a stopped price.

Those Big Investors are betting that the pps will rise significatively in next months.

And QEC is rising capital to follow TLM (and FST?!) new Capex implementation.

We still have tons of money in cash and no debt.

So this PP has a clear destination: to improve wells drilling in Utica St. Lawrence Lowlands, that is our golden play.

So, this is great news for QEC, if the PP will be a success.

The privacy and the only one day time, with halted pps, make this a very solid PP.

Life

Great gas flows results are at home, now, and we need to become bigger!

This is the right way.

It will be harder, and more huge for us, the buyout of QEC by a big Gas Company!