Well wasn't that a kick in the pants. Just after I bought at $2.78. Hind sight is always 50/50...but there is a silver lining to this play. We all know the facts and Mr Binion lays them out every time he presents a NR. They are in my mind as follows...and jimho

Lowlands is not affected by the current moratorium

the regulatory framework for oil and gas exploration in QC needs to be formalized and is an ongoing issue that imho contributed to the delay announced today

QEC has a tremendous amount of experience in the WCSB which they can use in the Lowlands and help ther QC govt

the 700 m frac of Gentilly 2 produced what was expected given the lower Utica testing...so they know the basement rock.

very close proximity to the largest consumer of NG

a 20km pipeline will be built

the value of this resource to QC govt is staggering and is the biggest thing to come along since the James Bay project...which incidently had more far reaching environmental and First Nations issues...which were overcome for the $$$ again imho

the green movement in QC is strong but in this case they are somewhat mislead by the press and certain brokerages (not to mention any specific names).

the fact that the fracs are 1-2 kms below ground surface and not even close to the freshwater aquifers

there are a number of other reasons not to bail on this resource play as I truly believe we still have the potential for a 10bagger but I'm tired and it is friday night and the leafs are playing...

good luck to all the longs...and i agree we do need more longs on this play

regards, Foghorn...keep the faith.