Good news, and I think the sp reacted or responded a little on it in Oslo, but an analyst did also post this:

- More reasons why the stock should rise:

In today's report from Terra Markets referred Questerre as the current case. The company described as an attractive shale gas player with more price triggers.

• While natural gas prices have remained fairly stable in the United States, Questerre lost about a fifth of stock market value over the past two weeks.

• We estimate the fair value of the stock to 32 million. We are assuming a gas price in line with the futures market.

• There are multiple triggers in the months ahead that could speed the development.

• Test results from two wells, Gentilly and Fortierville in Utica, is expected by the end of the third quarter. Questerre envisions a volume of 2.0 mmcf / d from the wells, which is well above the minimum requirement for commercial development on 1.5 mmcf / d.

• The financial position is acceptable with a cash balance of $ 167m. On our estimates, the company is funded until the end of 2011 given the current investment plans.

• We look at Questerre as a possible acquisition object on the basis of attractive valuation and exciting projects. Our view is supported by the fact that there have been a number of major acquisition in shale gas industry in recent years.

• Questerre is definitely not without risk. Test results later this year and gas prices represent the main risk factors.

From Hegnaronline: http://www.hegnar.no/analyser/article437345.ece

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And I agree with this guy about TLM and the learning process(as fra as I can judge from results and what we hear, I also have in mind that they stated that they wanted to be experts). He writes:

If Gentilly gives decent numbers, then we're in for a good time as the distance between St-Edouard and Gentilly (40 kms) is far greater than the one between St-Edouard and Leclercville (4-5 kms). So in a sense, Gentilly could provide us a better news if its results meet expectations as we would have 2 positive results within a much larger region.

Remember that Gentilly was a 5-stage frac. Not a 8-stage frac. Operators (TLM) are adapting and learning a lot with the current frac and drilling operations. So if they encountered issues or difficulties, then that's good as they will focus on the best techniques and have their top guns taking a much closer look at the data. Remember that this industry is adapting quite rapidly. Looking at the TLM latest presentation (June 2010), you can see how they get much improved productivity as they evolve. So the best is clearly ahead of us if Gentilly delivers.
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Todays EIA Natural Gas Report: Highlights
Natural gas in storage rose 78 billion cubic feet in the latest week. An injection of 70 bcf was expected. I dont know if they have shortet NG, but the price has gone down and is just holding the 4.42$ point. Maybe they wont be able to get it lower or to hold it at 4.42$ for very long, because New York and east USA have extreeme high temperatures. Maybe it will not make any difference to qec, because as it looks now, we could get an update very soon. The analyst rites later this year, but couldn't we get it much sooner, maube next month or sooner?