Greetings fellow posters:

I pulled this off the Forest Oil site, investor discussion from 1 pm today. All info with respect to the Utica shales. I took the liberty of bolding some of the pertinent info at the bottom.

Non-Core Canadian Properties

•Non-core properties with 15 -20 MMcfe/d of production and 60 -70 Bcfe of estimated proved reserves

•Culmination of plan announced in 2009

•Creates Business Unit focused on Deep Basin high-impact gas wells and emerging Utica Shale play

Capital budget of $5 -15 million for 2010

•Shoot seismic over portions of Utica Shale acreage and potentially drill 1 horizontal well

Quebec

Favorable topography and surface access

Excellent fiscal terms

-10 year leases

-Royalty holiday on new discoveries

-10% Crown Royalty

-Exploration tax credit

Large contiguous land position

Sweet gas with minimal inerts

Existing pipeline infrastructure and gas markets

40 Tcfe OGIP per Canadian Society for Unconventional Gas

Recently participated in two non-operated wells to gather additional dataSuccessful industry well tested 5 –6 MMcfe/d with longer lateral and more fracture stagesSeveral key changes and improvements in technology have been identified to implement in our next operations

Went back to the lab and checked our initial evaluation

-Evaluation verified by independent consultants

-Rock quality is good

Utica Shale –What We Found Going Back To The Lab

Rock Properties

Fracture Design

Re-evaluated the “Barnett” style fractures we originally performed

-Conducted in house and 3rdparty reviews of all fracture work to date

-Initially fractured only 4 stages with a 2,000 foot lateral

-Future fractures will be designed with a longer lateral and more stages

Natural Fracturing

Took lessons learned from higher productivity shale areas to look for enhanced natural fracturing

Additional seismic required to help identify these areas

Seismic operations to commence in second quarter of 2010

We Have Verified Good Rock Quality, Improved The Fracture Design And Are Acquiring Seismic

Technical Attributes Excellent gas shows Favorable rock properties Dominantly methane, low inerts Over-pressured, approx. 0.6 psi/ft Large gas in place

Economic attributes: Outstanding lease terms – 10 years Strong gas market and favorable price Shallow drilling yields lower cost development Favorable royalty regime Logistics including winter access

Initial results; Recent successful industry horizontal well Good sustained gas rates from industry vertical wells Strong instantaneous gas rates from horizontal wells

Next steps in 2010: Shoot and interpret seismic in Q2 and Q3 2010 Drilling program to follow in late 2010

Existing infrastructure and capacity: 24” line between Montreal and Quebec City20” line across St. Lawrence at Becancour

Multiple distribution linesCurrently 200 –400 MMcf/d capacity on TCPL (seasonal)

Capacity should be adequate to accommodate new volumes

Utica Shale: I well to be drilled, seismic, total of $10,000,000 to be spent in 2010

Utica Shale3,390 unrisked locations4,138 TCF Gas in place

130

Highly concentrated operated asset base with expanded land positions in the Deep Basin and Evi with further upside in the Utica Shale