I don't think that's neccessary the case...it just means they aren't spending money in Quebec, which is pretty obvious for the past two years and won't be in the next with the study. Frankly with the PQ here, nobody gives about Quebec. I've certainly moved on from that particular land we have.
Talisman is in serious trouble. Look at their sp over the past two years..its' just been a decline, especially even when oil prices were strong. They just put up almost a billion dollar loss. The stock went down another 5% today.
They're not abandoning the land...though it doesn't look that way. I frankly didn't expect a dollar spent in Quebec until mid 2014 if not a bit later anway, which is two years away. They may be in a financial mess, but they're not dumb enough to give up the partnership, because even though Quebec politics is a disaster, another major will just come, sign papers and sit on the land until it goes forward and when gas prices move up.
I like the move though. This basically gives the Quebec government the middle finger. This PQ government is disaster and I'm hoping they don't last the year and waste everyones time.
QEC needs to focus on those other plays, especially the Montney where lots of acquisitions are happening. Someone on the other forum said that they are drilling a well their with 100% ownership, but I haven't heard back from the company yet to confirm. That's a smart play, focus on gas and liquids. That is where the money is.
Our sp didn't even react to the news this morning anyway. Everyone has written off Quebec from the value until it is given the green light...whenever that is. I'm not worrying my head about it, haven't been for a while. Mr Binnion is doing the right things and focusing elsewhere to create value.
Hope you are all well! :)
