http://www.newsweb.no/newsweb/search.do?messageId=360479

Cash flow projected to increase 5 times current levels by Q42015. No new share financing planned.

http://business.financialpost.com/2014/05/30/how-quebecs-new-government-will-move-forward-on-oil-and-gas/?__lsa=9d60-5107

So, if I read that right.

Currently we are at 1,100 boe/d, targeting 6,000. So we have just over a 5 fold increase coming in the next 12 months.

Current quarter earnings was $5.5 million. Five fold of that is $27.5 million/quarter or $110 million/yr.

Current market cap is $333 Million or 3X those future earning projections.

At current prices we are about 15X Earnings. Conservatively let's say we scale back to 10X earnings a year from now, that would put the share price around $4.20. At 15X we would be $7.30. And this assumes no positive news out of Quebec in the next year.

I would take those numbers. Either of them.

I am sure this is oversimplied so someone please correct me if I am horribly off base.

Encouraging that MB is talking again about Quebec now that the new gov't is in power. No frac's in PQ since 2009? Has it really been that long? Wow. Lot's of pain since then. Hopefully in the not too distant future we can get back to those exciting days and $5.00 valuations.

http://business.financialpost.com/2014/04/03/take-that-quebec-questerre-energy-ceo-touts-alberta-advantage-as-production-starts-at-montney-shale-gas-project/

http://www.questerre.com/en/newsroom/press-releases/2014/questerre-grows-reserves-by-40-percent-in-2013/