Hey Rocco
You asked for the board's thoughts on the sp pullback. Hopefully yesterdays 7 million puchased create that support base around the $4.75 level. BCQEC mentioned a possible upcoming announcment of a new CAPEX plan but other than that I don't see what will move this up in the near future. The additional horizontal wells TLM is going to do but those results won't be out til much later in the year. M.Binnion when asked on BNN today mentioned 2011 as probable time frame to get any producing well hooked up. I wonder what happened to the govt of Quebec incentive that any well put into production in 2010 would get a 5 yr moratorium on royalties? Possibly even arbitrary govt incentives cannot change or push the proper development of a play like this?
I will be satisfied to see the chart support hold us at this level for the next while. I am starting to think with yesterdays big pop we all got a little too optimistic (except for a couple) when we responded to the stock price challenge. In hindsight I just don't see what will move this up in the next few months.
As always we have said this may take a few years to develop its full potential. What is one or two more years for what we have invested so far right? I refer back to a post "We already know the results" - it is just now a question of time and M.Binnion and company show they are patient enough to take their time to do this right.
Inceptus
