Hey Rio,
This isn't about 'if', but 'when'...and I know that once next year starts to roll around and hopefully the Quebec gov't gets some incentives into play, it will roll faster. What people don't get is that 2011 was always the year for the multi well pads and that hasn't changed.
Costs are important and the gov't really needs to start doing something to sweeten things up, and I have a feeling they will. Right now it's about communication with the public and as much as we hear a few negatives from these enviornmentalist who don't list, I read many of land owners allowing pipelines for our St Ed well and people in other towns saying "we don't want Montreal enviornmentalists telling us what to do".
The best saying I heard from QEC was "people are allowed to their own opinions, but NOT their own facts". This is exactly what is happening...they are making up their own ideas because of fear mongering of media and a gasland movie that is getting destroyed by analysts. I read so many on site engineers on other forums say it is the most ridiculous thing they have ever seen. It shows "stuff", with zero scientific data..only observation which could be from anything. Try that in the real scientific community to show that and say it's proof, you'd get massacred by your peers...and they slowly are starting too.
QEC can only go down so much before people start scooping up cheap shares and there is a frenzy to get in. RBC has already started scooping up millions and so has CIBC...I see Dundee in there every once in a while for some 50K blocks etc. As skinny said, when on a down trend, people will get shares as cheap as possible, why bother paying the ask when you don't have to. I embarked on this many times in the past and after the stock rose many times.
This is nothing more than a delay and some traders and MM's holding it down...been done many times in the past to QEC..and guess what, even when one day when it's trading at big numbers, a certain earnings slip up, if they have one, will have the market do the same thing lol :). It's all temporary though.
There are still 7 strong buys, 6 buys and 1 hold on QEC updated since the news...firms know that nothing has changed, but some smart ones will use it to scare others and other smart ones will take hold to get a few cheap ones.
Jason from QEC told me all it was, was a delay and nothing more. Results have been great thus far, lots of cash and now it's about educating the public. As Brym said, at today's SP our land in Quebec alone is worth ~$900 an acre...which is nothing.
Rocco :)
