Galios, you have to take a look at a few things when looking at trading and not just SP. First off, since the BAPE news, there has been about 3.5M shares traded. As an investors since 2004, anytime that QEC releases bad new or something, it usually drops on huge volume, more like 8M and will trade upwards of 13M in the next few days. Frankly for the news that came out, it shows that a lot of investors are still holding and few got out.

Take a look at today, down because of world markets...down 6% on about 150K shares??! This stock has 230M shares out.

As Mr. Schacter said on BNN, now the old investors will get out, and make way for new ones. We're already starting to do that. If we didn't have the Japan things right now, we'd probably be 1.20+. Right now there is the Japan nulcear crisis...once that cools down, expect markets to tread back up and QEC along with it.

Right now QEC it getting probab $100/acre for Quebec. I expect it to rise like it always does as the SEA is put in place and things move forward. As you heard, these companies are ready to go but want the government to get going.

This is from Jason at QEC, I got a response:

"We completely agree with QOGA and Talisman’s position. Talisman and Questerre are committed to conducting the pilot programs that will help us assess commerciality while providing the government with the information they require for their study of hydraulic fracturing. Time is absolutely of the essence as we need to be able to contract the frac equipment as soon as possible. If we do not, equipment availability could become challenging once again. Until the committee is established and they formalize the regulations for completion and testing of the pilot wells, we cannot do anything further. So the government has to form their committee and let industry know what the regulations are."

They clearly are still waiting to drill, but need the government to get going. Talisman didn't say if it is going to affect their plans, but it definitely could if the government drags on setting things up. So they cleary want to move forward with the SEA, but are putting the pressure. Frankly the industry has done all it can and it's up to the government to get it going, which I fully believe they will. Don't think the government has changed their viewson exploiting and getting gas going, so they'll move things along.

Talisman and Mr. Bouchard have made perfectly clear the importance of seeing if Quebec is a viable play and yes they have permits with time limits and also sunk in $200M and a lot of time, so you have to respect that too. Saying all of that means nothing would be a slap in the face of the industry and I'm sure they want them to stay, as they need them.

I expect the SP to drift up in the coming months once things cool down with Japan and people realize that drilling and fracing are still going forward. I would have been worried if the industry said they were going elsewhere, but they have not and said they are committed.

Really can't ask for more. At today's price you're getting Quebec basically for free. But because of the Japan thing and it being uneasy around, nobdoy is going to bid anything up. Frankly if I was a new investor or old one averaging down, I'd just wait to see if I could get it even cheaper...every bit counts.

This is why when you see QEC run, there is huge buying (on huge volume) and nobody selling...those two factors run it up. When you see it fall, you get selling (which in this case was low volume) and nobody supporting the stock...so it falls hard. Even if you knew nothing of this company but just watched for that happening, you could make money having it go both ways.

It boils down to time line. I myself don't actively trade, I buy and hold. I don't need headaches. I can tell you there is no other place I can park my money and recieve the type of return I can with QEC in the next few years. A 10% return on a portfolio would considered solid in a year. QEC with two solid fracs could take this from $1 to $4 instantly like it has in the past. Because even though we're in the "study" phase, it just proved up the play and that adds to what people will value the land at.

There are a lot of people right now looking at this stock I can garauntee you, waiting to see when they should pull the trigger...and I think management is def. one of them.

Rocco