Hey Rocco: Point well made and taken. Absolutely correct...they are watching but that's the extent of it. We are seeing significant interest in the Utica across its geologic region of existenance, from New Brunswick to Michigan there is a lot of interest so it will be interesting to watch the next steps unfold. But as far as QC leading ...that is just their point of view and mostly what is printed in very biased newspapers. When was the last time anyone followed what Quebec was doing. I doubt very much that they will have any impact on the way legislation is drafted in other jurisdictions. In fact they will probably follow and then turn around and tell everyone how they were the first ones to react and create the necessary legislation. Last week we saw the NB minister in BC and the USA trying to get a handle on the situations in those jurisdictions. Where was Quebec. I'll tell you...they were sitting in their offices trying to understand what is passing them by and pointing fingers. I spent the week in Montreal amongts engineers and scientists and you'd think the world was going to end if gas exploration in their province continued. My friend...these are not people who have grown up with the oil and gas industry such as western Canadians. They are very suspicious and won't move until their palms are greased and the industry is somewhat nationalized. This is just my opinion but I deal with Montreal and Quebec City on a daily basis and i think i understand their thinking.
All said, QEC is still a well positioned company and a good long term investment...and at this time is a very good buy. I plan to pick up more in the next week or so. It is too bad that the delay is having such an impact on the share price... but that also provides us longs with more opportunity to average down.
regards, Foghorn
