If you also watched Mr Binnion's presentation, he talked about NG prices. He said that early in the year, tons of drilling was going on, and when a well is done drilling, it takes about a couple quarters if not longer to bring it on to production, so we're seeing wells put on production that were drilled well before NG started to slump. This is the reason he mentioned inventories are full, but believes that these next couple quarters we'll see demand use up that gas, coupled with huge losses of rigs and drilling...should help NG.
I wouldn't really base my trading on one analyst out of the thousands out there. It might not rise significantly, but seeing as how Talisman has accelerated drilling and we're seeing resourse estimates and huge results...and also Mr Binnion saying that Quebec and the Marcellus are the two most economical places to drill (b/c of low royalty, gov't help in Quebec and most importantly pipelines in place)...take all this into consideration and it's a no brainer that QEC is a winner. It's hard to tell what the stock will do, but after the last couple days, it really helps ppl that were in doubt about the company and play and puts their minds at ease a little bit more. You can either buy now, or maybe lower...but at the same time potentially a lot higher.
Anywho, really enjoyed the presentation and the news of course!
Rocco:)
