Gastem Inc GTMIF

RE: RE: Natural gas going higher?

[Tbonepickens]

Gastem / Canbriam would definately NOT want to see a moratorium since they already have allegedly spent over $30 Million on the St. Lawrence Lowlands already. The only way to recoup their investment and increase the wealth of their shareholders (Canbriam is a private company) is to continue drilling. This is the perfect time to continue drilling because the price of gas is low.....there not selling gas to market as we speak anyway. I am sure they wopuld rather drill when the price of gas is low and be prepared to sell it to the market once the price rises. However, they would still have to find their best zones, do the flow rate tests and build tie-in pipelines. All this takes time (and money).....therefore any form of delay is a problem. Had they known they were going to encounter all this opposition from the locals, I wonder if they would have started drilling in the first place ?  I also wonder if thet have bent the ear of the local and provincial politicians by saying "Hey, I better not be facing a moratorium......you didn't seem to mind me spending my money a few years ago when everyone thought there was no gas.......now that we are hitting gas and getting closer to commercializing the asset, NOW you want a moratorium ??

Business is business. The politicians know that they cannot afford to lose the taxes, royalties and employment opportunities for the area. That is exactly how politicians stay employed....by bringing in revenue to their area. Quebec spends $2 Billion per year importing gas from lberta. Don't you think they might want to save that money and have a lot of Quebecers growing the oil/gas industry in their own backyard??

I believe at the end of the month the report that will be generated as a result of the BAPE hearings will not suggest a moratorium, however it will suggest "best practice" rules and regulations for the companies that want to continue (or initiate) business in the oil/gas business in Quebec. That is the best solution. The environmentalists can be assured the governments have heard their voice about all the health/land/water concerns. At the same time, the oil and gas companies can get back to business. Their may be still be some that are unsatisfied, but the reality is you cannot please everyone, there must be a reasonable compromise. Anyway, these are just my humble thoughts. We will all learn more by the end of February or the beginning of March. Good luck to all the GMR longs.

Tbonepickens