Agoracom

Rocco,

Re the valuation of QEC acerage. Listening to the latest Arc Energy presentation it was stated that the last auction for the Montney saw $33,000 per acre.

Arc is reporting about 50 Bcf per section. QEC appears to have an average of 93 Bcf for the Utica and 120 Bcf in the Lorraine. In addition Arc and Encana are now doing up to 10 fracs on these wells with flow rates of up to 10 million cubic feet per day.

I also believe that the market is going to pay a lot of attention to anything near these kinds of numbers when FST/TLM start announcing results. Listening to some of the energy analysts on BNN they all talk about the Montney like it is the greatest new discovery in Canada. It won't take long for them to publicly declare the virtues of the St Lawrence. I am sure many are keeping quiet about the St Lawrence until they have bought the cheapest shares they can get there hands on.