Nice post.

I really don't see TLM giving up their Quebec lands...Frankly I don't know how they even came up with this $5 number seeing that they don't know what flowrates they will have on average and Quebec has premium to nymex. Just later year Mr Binnion said that they only need $3.50-$4 to make Quebec work.

I agree with you about the government needed to give incentives. LifeEnergy actually made a solid post on the other forum I just read. He basically said that what Talisman is doing is basically telling the province that either you show some incentive and handle these enviornmentalist oppositions in a timely manner and get those regulations in, or we'll just stop drilling...I have no doubt this is going to a wake up call for the province. I look forward to the next BAPE hearings in a few weeks because from what I hear of the people that go, is that the reps from Talisman and Junex, experts etc are giving some great information and that it seems there are less and less arguments from the enviornmentalists. There is no doubt that the fracking is safe, it will just take a bit to get people understanding. The thing that I know, is that even if everything humanly possible is done to tell them it is safe, they still will reject it...and that's when the drilling will go forth anyway.

Quebec has been getting a lot of payments for years from the rest of Canada. It is a have not province. There GDP per capita is close to the bottom and debt the highest. I heard that if they were to be a sovereign nation, they would be right up there. Politics will play a huge role in getting this project going in the upcoming months and years. My education in Alberta was super expensive, and this is a province with huge huge revenue. In Quebec it's cheap education, loads of social programs and they keep sinking deeper and deeper into a hole.

As cameltrader said, it wouldn't be that bad to see a company like Total come in and give'r...my only thing with that is that they make low balls offers (ie. UTS)...but with the shareholder rights program in place, nobody would accept it unless it was a nice offer...and seeing as how Binnion passed on selling a single share of his 10million+ at $5+ (which happened a couple times), I doubt he'd cave into any low ball offers.

Right now people's emotions are running wild. I've seen it many times before on this stock. Wait until more BAPE hearings, and winning over some of the public (which seems to be happening as Gaz Metro is getting the approval from lots of farmers for the St. Ed well tie-in), the report due in February(which I know will be fine) and then some regulation on drilling...and the mood towards this will already change. It swings back and forth...and being a whole new idea for Quebec, it was expected.

Even though Talisman is waiting this out (I'm sure the costs were the issue, but I bet they would like for all these other issues to get solved as well in the meantime), they are being proactive with things like getting the permit for 6 news wells (pad) in Fortierville and applied for more in the Sainte-Gertrude area...in the two places were we were waiting on our fracs actually lol.

So once all these things start to come together and move forward, there will be a renewed optimism. Even back when Forest Oil delay some wells, this got kicked...then they went back into it and the SP started to rise.

Today's movement was pretty nice to see. 7+million with a slight rise, means there is some heavy accumulation going on. Remember this is bought by mutual funds too now and so will be more closely followed. We probably got shorted, and a lot of tax loss selling for funds...once they are able to buy back and this starts to move up in general, you'll get a short squeeze as well that will help.

I look forward to the Leclercville test results. Bencro said that he was watching this live and heard James Fraser, Senior VP and Talisman say that those results were the most promising yet. I know they must have tweaked the fracs from the St. Ed. and it'll be interesting to see what we yielded there.

Rocco