Ref. Link provided by 'expeter' 10.2.10 http://www.hegnar.no/bors/article407019.ece
I normally make a point of translating relevant articles from the Norwegian press and forum but missed this one due to my little New Years break. Although it's now a little outdated it does make for very positive reading so I thought I'd sling the whole article in anyway. Hope I'm not treading on anyones toes...
Questerre is the hot stock of the moment.
Article by: Sverre Rørvik Nilsen (Hugin Online - 18.1.10 06:15)
Questerre and shale gas has gone through a very exciting week, writes Finansavisen. The company is involved in extracting unconventional shale gas and its stock has been eagerly traded by traders on the Oslo Stock Exchange during the last two years.
Last week, DnB NOR Markets held a seminar dedicated to the theme, while the world's best oil service analyst Ole veil of Morgan Stanley referred to shale gas as "the new news" during Skagen's annual New Year's conference. Finansavisen also points out that Norway's best investor Øystein Stray Spetalen participated at both events.
Brokerage house ABG Sundal have also initiated coverage of the stock, opening with a high target price...
- We believe the primary value of the company is located in the Utica shale gas field in Quebec. With a unrisked value of 85 kroner (15.3 CAD), and a 35 percent chance of success, we end up with an initial target price of 30 kroner (5.40 CAD), "says analyst Oddvar Bjørgan to the newspaper.
This is Questerre Energy Company
Questerre is developing a portfolio of oil and gas resources in Canada and the company has assets in Alberta, British Columbia, Saskatchewan and Quebec. About 70 percent of the company's production is gas, and 30 percent is oil.
The strategy of the company is to secure land with great potential and attract partners that can further develop areas (farmout) in exchange for ownership stakes in fields from Questerre.
The so-called Utica-shale found is of type 'shale gas'. Shale gas falls within the group of unconventional gas production is subject to extensive well stimulation, but provides in return a stable and long-term production with predictable returns.
