This one is from within my online banking service so I can't provide a link (and it's a bit of a rushed translation):

Received 06/09/2010 2:06 p.m. - TDN
Oslo (TDN Finans): Subsea 7 and Acergy are among shares shadowing the Oslo Stock Exchange index on Monday, while Questerre Energy Corp rises markedly.

Questerre Energy Corp.. is up around 3.9 percent on Monday. The company will provide
an update on the production rate after 30 days of test production Gentilly-2 well in the Utica formation during September. The shale gas well is situated in St. Lawrence Lowlands, Quebec, Canada.

"This is perhaps one of the reasons why the stock is now rising. QEC previously guided expectations to between 1.5 and 2.5 million cubic feet, but subsequently reported 5
million cubic feet. It's therefore difficult to say how much better than guiding the actual production rate has to be for the market to interpret results as positive, says analyst Theodore Sveen Nilsen in First Securities to TDN Finans on Monday.

The company has guided an average production from the well of between 1.5 and 2
million cubic feet a day. Analysts TDN Finans has spoken with, point out that the company has previously announced significantly improved production on the second
wells than guiding.

"They have said that the production rate is certainly lower than the previous one.
In general, a rate of over two million cubic feet will provide additional indications that the area is commercially feasible, "says the analyst.

First Securities has a strong buy recommendation rate target 38 kroner (6.43 CAD).

"We're basically just waiting for the results to tick in. The update may come at
time and I guess it comes in early September. I think the market expects between two and three million cubic feet of gas a day, "says analyst Patrik Hofseth in Argo Securities to TDN Finans Monday, adding:

-Should the company report over three million cubic feet, I think the market will react
positively.

Argo Securities meanwhile, has a neutral recommendation with a rate target of 25 kroner (4.22 CAD).

-I do believe it's a good short-term bet to buy this stock now before the test results. What is negative is that gas prices are low and this weighs down the stock, says Hofseth.

QEC is currently trading at 17.24 kroner and shares for 22 million kroner have changed hands today.

anders.furuset @ tdn.no, christer.teigen @ tdn.no
TDN Finans - tel 47 22 00 11 55