Nice post Inceptus. I was talking to Jason and Anela about this whole SEA. They said that the government is expecting more wells than they have planned. Anela did say that they how many wells they will drill will depend on Talisman etc. If you all watched Michael present, they said in Antler for every $1 they spend, they get about $2.5 out so this will be big capital for Quebec. Jason said getting up to 2000bbls a day would be significant to market value for QEC. With the high netbacks in Antler, this could be big. They are analyzing other shale oil plays right now and want to bring that same Quebec potential to the portfolio with another play. Dr Faraj is the best at this, so I expect something worth while, as opposed to a shot in the dark at some random land.

Also, Jason said that this SEA will be more for constructing how to proceed with gas, basically putting together regulations and having it all set up and done. Frankly if only 8-10 wells are drilled, they aren't going to learn much. If they haven't from the 10,000+ wells, then what is 10 more? So this is just a time thing now. IMO, this is more of a political thing right now with elections next year.

Also, I read an article about a Korean company wanting to buy shale plays in the US and Canada, but it said specifically Canada would be preferable. If you saw, Apache pulled out of NB. Don't know what that means, but they clearly didn't see the top potential there. With BC needing very high gas prices and infrastructure, Quebec is one of the last solid shale plays. Just wanted to bring that to light as shale is growing and many companies want a piece of it.