Reflecting on last Michael Binnion's conference in Oslo, I'm starting to believe that he pointed too much on concepts like "this is a very long term play" and "we will never have a public offering from a major until we will prove Utica commerciability"...

I think that MB, in his full transparence, pointed on the wrong side of this business, giving the wrong impression that from now on to some years away we will have no significant value increasing.

This is a wrong impression, I repeat it, because QEC is now very hot, and in the next 4-5 months we will have at least 3 hz. wells data, and new capex from TLM and QEC for Utica drilling, the tie-in to Gazmetro pipeline, and a new favorable gas developing Law by Quebec Government.

And an offer from a gas Major can come at every time, anyway, who can say it?!?

So MB is trying to correct his point to a more hot point of view, it seems...

It's probable that some important person or fund have said to him to correct it..., to avoid short speculation down.

Just my opinion.

Life