I have no problem with them going into Vulcan and the Sask properties to get to 2000+bbls/day in production. Sask has a netback using $100 oil of about $70 which is huge. The NAV of those properties and cash is about $1...everything else being worth nothing...we're undervalued big time imo here.

Jason said they are looking for new shale plays that can give them an advantage (ie. be able to exploit it and produce) and that has the same potential as Quebec. With Dr. Faraj at the helm I expect them to do some magic. He did mention though their advantage isn't to pay top dollar, so that is good. I wouldn't want to see us go in and buy acres for $3000-5000/acre just to drill. Cash preservation is huge and a nice oil production will definitely add some big dollars to our revenue. A PP can not be avoided in the future, so in the meantime it is good to sit on most of what we have. Anyway, a PP in the future would be done at much higher prices.

Thanks for posting that Steel. I know Vulcan has been giving them some production for years now. Will be interesting. It is conventional so should do well in terms of results.