RE: TSX DOWN (-) 330 P again TODAY -NOTEHedge funds drove it up on speculation and they are pulling out - when they aren't being forced out - be careful about valuations on OIL or Natural Gas... they are artificially flavoured right now. The guys expecting a return to $80 oil may not be wrong.
I'm not sure that QEC ( when the smoke clears ) is pegging it's valuation to OIL ( or Nat Gas ). Maybe a little but I think the value is here based on what they are sitting on. The higher that recoverable reserve number goes the higher QEC goes. IMHO