See Steel post below for right answer loool!
He's right though. It will def depend on results, viability, premium to nymex or not, pipeline in place etc. Quebec, once it allows things to really move forward is a solid place to drill when you consider all those factors...it will depend heavily on the kinds of production and that's exactly what a bunch of mulit well pads will do for the play.
$14K seems very high. I don't think many plays are fetching that right now with gas prices being fairly low. I would take even a third of that and we'd have a large sp. Really for me I'd rather see QEC be able to drill quite a bit and get a nice large SP before any takeover offers.
As I said before, really looking forward to Chesapeake drilling heavily into the utica this year. Though the rock depth etc might be a bit different, it will still give a good indication as to what we can expect in the drilling ahead.
