Steel hit that on the head.
QEC right now is not drilling in Quebec and that's what got people flooding into the company in the first place. I remember it was trading at $0.35 and then went to $6 in a month.
Fair value is $1, without considering or putting any value on the utica shale. I mean look at Encana...down from $34 to $24 today. I mean one of the largest NG companies in north america...do they or a lot of these stocks deserve to be that low...of course not but they are. We are trading at 30% below where we should be.
The fact that Chesapeake just came out and said their utica is worth $20B should be a sign to all. I don't believe they actually have any big results yet either...and we've had more. We still own the premium acerage in Quebec and financially it's a top place to drill with Gaz Metro in place and premium to nymex. There is nothing that has changed except that we have to wait. Institutions are what jacked QEC up and they are active in management of portfolio's...they aren't going to wait...but, once we do get the green light, this will explode and you can count on that.
After that though we won't have any stoppages because we've done what the BAPE wanted and SEA will be done.
The time to get into stocks is when they are depressed and nobody cares about it...not when it's trading at $6...