Keep in mind the following:

The above calculation is unrisked and supposes no dilution in shares for financing purposes. Analysts typically will put a risk factor, share dilution factor, etc for investment decisions.

Recent report (Oct 2010) from Mackie Research assumes $5/mmbtu + $0.50 premium for nat gas and an IP of 3.25 mmcf/d, risk factor of 73%, PV factor of 50%, dilution factor of 75%. Target price = $3.50

Also note that the price per acre goes up or down depending upon the level of development.....the more we can develop it and prove it up ourselves, the more that acreage will be worth....uncertainties such as risk factor go down

civie23

Anybody having problems accessing stockhouse.com?

I read QEC news on both sites. This evening I accessed the site, but then got shut out.

One of the articles quoted Binnion stating that QEC was re-allocating 2011 capital expenditure

out of Quebec to Saskatchewan and other plays. They were keeping 5 million CAD

for Quebec scientific purposes. Not sure how much each frac job costs, but hopefully

5 million will cover the 2 fracs that were planned for the spring / summer.

error message on stockhouse as below

Invalid web site