QEC these days seems to be more of a trading stock...it went up 15cent yesterday, and came down all of it on just over 100K shares, which is a complete joke when you're talking about a stock with 230M shares...this shows you that it rises quickly, but there isn't much support behind it at the moment. Same with when it comes down. I can't even remember the day we just had a normal up day or normal down day...it seems like whichever direction it goes it does it in an extreme way.

The talk of royalties and them looking at other provinces etc to me is a great sign of moving forward. Frankly a moratorium if you use a bit of common sense makes no sense because there is nothing proven in Quebec at the moment. These guys are just trying to define what we have and if we can make money. (I mean we know it is commercial, but we have to see just how much and TLM isn't going to say it is...besides they technically can't with only a few wells in place).

The government knows that a moratorium doesn't make sense and Quebec is very early...I think in the last hour more wells were drilled in Alberta than in the history of Quebec. Activists will scream and shout and call bloody murder every time, whatever it's what they do and it is not going to stop so lets leave it at that. If government operated with their opinion that represents a few (because only a few are close minded...these guys speak as if they speak for the roughly 8 million Quebecors) we wouldn't see any development anywhere is any countries. Governments move forward with reason, fact and common sense. Doing things that will help economies and their people. Nathalie Normandeau said it best that you can't just put a moratorium on absolutely every new resource you come across...especially one that has a relatively solid track record and proven that it can be done very safely...and in their case one we are trying to prove will work.

Also interesting to note that TLM/QEC don't put any deisel in their fracing. This was a huge concern in the states but they don't use it. There was an article about this recently.

As you can see, the SP is very volatile. Here is the thing. When this starts to move forward and gets going, the SP will fly. Number one, it always has historically. Second, it will start to solidify some proving up of the play...and third, shale gas is such a hot resource that everyone wants it...you start to see countries in Europe, China etc trying to see if they have the resource...With nothing left by way of discovery, companies are already jumping to buy other lands for their own reserves. BC is so far away from main cities and also has very little by way of infrasructure...so needs a high NG price to make economic...but again, they still need pipeline. Quebec is situated in perfect area and has all the positives...along with a sweet gas that needs no cleaning.

The mandate of the BAPE is how to move forward, and I believe that they will come up with some nice recommendations. As Jason from QEC said to me before, there wasn't a single proper argument against the science of shale or a shred of evidence to say it can't be done properly. The memoirs against were the same old people with the same old gasland propeganda based on nothing but misinformation and no solid scientific evidence to support it. These members have seen what it takes to get it done right in many other shale producing provinces, states...and also NY, to see what went wrong and why that happened. There is no such thing as no risk...but Quebec has a chance to take all that information and turn it into a solid legislation that will protect it's environment, people and promote a healthy move forward.

Rocco