Welcome RRJJ,

Yes there won't be everything positive, but the general thought will be imo. You have to remember we got several reports recently from agencies, some even in Quebec that say that there are general problems, but nothing to link shale gas drilling directly to contamination or those problems (no scientific data).

Also, the BAPE committee ventured down to many of the shale plays in the US. Texas, Arkansas etc...these are very successful plays with little or no problems. Also it gave them a chance to see the economic impact on business around that benefit. Recently you saw that Mayor of St. Ed was very upset to hear of some delays (waiting on BAPE), because there are 120 jobs at risk and a lot of money to local businesses. It is all about facts, nothing more. If they got the facts on NY, they would know that very shallow horizontal drilling contaminated aquifers. This is a big no no in drilling if you know how the process works. With deep drilling, we are down a long way that it makes that impossible, the odds were something like one in a hundred million or something.

Horizontal drilling has been done safely for almost a decade. There have been problems, but you have to look and see why? ie. Were they cutting corners with casing cement, shallow depths etc. As I said before, no industry has a perfect record, especially if that size. So the idea is to see what is working where and how to implement that here. BC has a great regulatory system and hasn't had any problems. Quebec needs to look at places like that and adopt those practices and guidelines. We don't need to reinvent the wheel, but to take the best parts from each place and make it our own.

I have been saying many times, that the BAPE's job is to provide how to move forward, not if. And recently in many french papers, they have been saying that too. It is the first time I have seen them write this.

I am guessing you have seen the recent articles on increased government support etc. This is huge in getting the industry going.

Here is an article that came out today:

http://translate.google.com/translate?u=http%3A%2F%2Fwww.radio-canada.ca%2Fnouvelles%2FEconomie%2F2011%2F01%2F21%2F001-alstom-quebec-schiste.shtml&sl=fr&tl=en&hl=&ie=UTF-8

Basically saying it would be very hard for Quebec to say no to shale and that it can be done in a way that also protects the environment...and this can be done, just look at the past ten years and the solid track record. You don't scrap an entire industry because of mistakes by people or companies who messed up. Most companies have been drilling with perfect recored without any problems...if they can do it, then it is possible.

That's what good regulations will accomplish.

It would be best if Norway doesn't read the report and lets Canada read it first lol...they don't seem to grasp the picture...it seems they are more into day trading QEC rather than investing (but not our Norwegian on our board lol...they are real investors for the long term). Nonetheless, nothing wrong with day trading, if you can stomach it lol.

Anyway, things will be good and I look forward to it. Also, to our two horizontals. Both will have 8 fracs and target the utica alone, which should be solid!

Welcome aboard again and looking forward to seeing you on the boards!

Rocco