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Message: Re: Talisman Q3 presentation

Nov 02, 2010 01:57PM

Nov 02, 2010 03:06PM
2
Nov 02, 2010 03:10PM

This isn't a QEC well Brym, it's with Intragaz so QEC has no power over if and when the results will be released.

If it is comparable to the St. Ed, then it's a major success...but a perfect 8/8 frac would be tremendous to the results if we just extrapolate so I'm not upset at all that they didn't release them. Hearing TLM already say they are the best ones to date is a good sign, or they would have never mentioned it in the BAPE hearings.

TLM said on the conference that they will frac early next year as promised and in the mean time GazMetro is proceeding quite quickly in making the pipeline happen. Also next year we'll see 3 horizontal fracs from Canbrium.

Read this from DnB Markets in Norway, they attended the recent O&G conference in Quebec and here is what they had to say:

DnB Markets Update on Friday:

We Attended Quebec Oil and Gas Association's yearly
Focusing conference Wed shale gas activity in the region October
24-26. After meeting Several companies with shale gas acreage
In Quebec, we were reassured about future activity in the area.
Most importantly we think the Probability is high for
Questerre's next production tests being done next spring as
Planned. Key takeaways from the conference are listed Below.

• High Probability of Important triggers in May. We got the
That impression There is a high Probability for the two horizontal wells
originally scheduled for Q4 being tested in May next year as
Planned (operated by Talisman, Questerre ice partner). A service
contract is Likely To Be finalized shortly. We Also Expect Canbriam two
test three horizontal wells in the same process, providing Additional
relevant production tests.
• The well Leclercville Likely a strong data point. There were
talk about the Leclercville well (operated by Talisman, Adjacent to
Questerre's acreage) being a strong data point Comparable To The
Surprisingly good St. Edouard result Announced in February. Thurs Our
Leclercville knowledge and St. Edouard are the two sites Talisman
ice Currently Evaluating the multi-well pads. It is uncertain whether
Talisman goodwill Wed this comment at the upcoming Q3 results
announcement (Tuesday, 2 November).
• Strong cost improvement seen in the area. Canbriam Stated
That They Experienced garden considerable improvements in costs'
with drilling of a horizontal well overall treatment lessthan CAD2m,
Compared to the latest Talisman wells that ~ CAD5m.
• Positive tone Regarding potential farm-ins/acquisitions.
Several companies mentioned Increased interest for farm-ins and
Acquisitions in the area and Expected "to see new entrants hum
the next 6-12 months.


Nov 02, 2010 03:46PM

Nov 02, 2010 09:45PM

Nov 03, 2010 10:02AM
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