Hey Galios,

Well what I see on the horizon is for sure the two horizontals in spring, but most importantly the legislations and BAPE will also present the government how to move forward. Royalties will be a big part of the discussion and also incentives. These are the foundation to getting more money in the province. I think once we establish that, Talisman and other will get together to do more multi well pads...maybe even talk with Canbrium to increase their drilling so that a service crew can be establised there. Service crews will only committ to staying in a place if they know there is constant work, and I think once the companies get the other things in place, they will have no problem spending more.

The results of the next two wells will help in determining where the multi pad wells are going to be. Right now St Ed and Leclercville site is definitely one in my books...and the others will depend on the results of the two that will be drilled.

Like I said, next spring is a big breakthrough time as it will establish the tools to really move forward.

Think about it, right now doing 50 wells would cost $650M...with a service crew in place, probably around $300M...this is absolutely HUGE. So costs will come down.

Right now, QEC is trading at cash plus $400/acre of Quebec land...not including any other plays or interests. This to me is ridiculously low, but we are in tax loss selling season etc.

I think people are realizing some low low levels. As I mentioned, the buyers are all trying to get in as cheap as possible, so they are just putting in mainly bids...which is why we've seen a decline many times over the past while as well. As you can tell though, the volume is super low which means many people don't want to sell either (frankly who would at these levels...especially if you're a long term holder and don't bother with tax loss selling).

With a million shares short right now (not bad considering the float)...and type of upward pushing can be accelerated by heavy buying as people will be jumping as to not miss the boat. It will take time, but we'll head up...and as before, with good news we'll gap up. That's how it went from $0.35 to $6 in two months before...huge gap ups. I laugh when I think we did that with a single 1mmcf/d vertical and nothing more lol.

Anywho, stay cool people.

Rocco