FYI - had an interesting chat with an industry source in the Horne River on the subject of the relatively slow [but steady] pace of development of shale gas there. He indicated that the industry is not worried about pricing or a glut on the market but rather that development elsewhere [Montney, etc.] is being given precedence currently because the leases there have a limited shelf life and they are closing in on the expiry date. The co's have to drill it or lose it.

The Horne River is being viewed almost as money in the bank and the bigs continue to develop and explore. Interestingly for QEC shareholders, the more exploration that happens, the better the QEC property looks both as a drilling site and as a trading chip.