I just turned on BNN and right when I did the program started with Joseph Schachter. If you all know this guys has been following QEC since way before Quebec. BNN got it wrong when they said there was a ban...I just talked to QEC again now, great conversation...will make points after I talk about what JS said.
He said that basically right now there is some weakness, and some old investors are taking some time to sell QEC, but new investors are coming in and will be coming in. He said it is completely wrong to put no value on Quebec acerage and other land positions. He said right now, Quebec is being given about $100-200/acre. To me that's absolutely ridiculous. He said they've been fracing and can prove they can get the gas out...stopped at sayng it was fully commercial. I don't think he knows that they can still drill and that we need fracing to study this...but I think I'll send him an email soon. This guy knows the SP is ridiculously cheap, but stopped at saying buy it LOL...I think he's looking to get in really cheap. Last time I remember when QEC went down to $0.90 during the crash, he said wait to buy it...but he couldn't get a break as the stock went up to $2 again and then on to $4. He also mentioned that as it goes on, they'll understand and that they need the jobs and revenue and also the interview mentioned Quebec's huge debt.
To my conversation with Anela. She reiteratred my comments that we need to fracing in order to complete the study. She said they're still trying to decifer what this "frac for science" means...but that in order for them to be able to work, they need the industry to go ahead with projects. They are trying to see to extent of the fracing they can do...whether it be continuing on with their pilot program (this means drilling/frac more wells after the next two wells)...and when they apply for new wells, is it going to be on a well by well basis, or can they get multi wells at a time? So they seem optimistic about this, but will issue a statement when they learn more. Bottom line is that she knows that this study can really only move forward with drilling to induce the study. She also said that they are happy to get this study done because they're going to come to the realization that fracing is safe. I asked her if the company or TLM has had an incident...she said there hasn't been on in Canada...also saying of course there is a risk, but if something does happen, the water would be damaged for only that one land owner, and they would be fixing the problem immidiately. She said that this is rare and would be a casing problem, but they never had that problem before. Mentioned over a million wells fraced, very little problems considering the amount of wells drilled. This is where good regulations come into place to prevent poor work from other companies that could ruin things by not doing things properly
She said the government is working quickly to set up this committee so that they can get on with their drilling and work.
That's all I got for you!
Rocco
