General prospects for Horn River and the Montney shale gas developments in Northeast BC continue to look good.

The state-controlled gas corporation of South Korea has announced that it will engage in a 50% buy-in to EnCana's Horn River and Montney's plays for $563million over 3 years. They further envision a total investment of $1.1 billion over 5 years.

This should further enhance the value of QEC's holdings in HR where leases continue to sell well as the area under exploration expands. It should also alleviate some of the concerns over the potential for reduced NG prices as these fields come online given the direct link to the very hungry asian market.