As you can see Expeter, the volume has dried up for selling. The days it is going down are low volume, but more importantly I don't see any large firms selling, just CIBC and RBC that trade back and forth, they probably trade most of the volume. They have used QEC to trade, and we haven't seen the real big money bounce in. On the way up to $2 I have Dundee and other firms get in, but none have sold.

When we get good news on BAPE etc, then it will remove a lot of uncertaintly and this will for sure bring in many investors for the long term.

What I found interesting on the TLM conference call, was that Talisman CEO was saying how they are very encouraged by initial results in Quebec, but they have not proved it is commercial (again, not showing their cards)...and then later on another utica question, said that a good regulatory and fiscal regime will open up the utica for development (basically saying that it is commercial, but we need some incentives to proceed).

I think we all here know that it is commercial, but nobody wants Quebec to know this. They need that go ahead and competitive rules and royalties before they move forward, because good incentives will save tens of millions in royalties for companies when drilling etc.

Rocco