What does the future hold given the past?I have studied QEC briefly and find it to be an interesting play. My observation is the company seems to be well promoted ($200M market cap on small production and big dreams). The dreams, Beaver River and P.Q. are well publicized in press releases, but contain little in the way of real results - "gas shows, target depth met, further testing, under AFE" - which I guess are positive things but what are the real results?
Past exploits by QEC management including, Questerre-1 (before creditor protection), Flowing Energy, Magnus, Fintech, Terranex, CanArgo and High Arctic have all been big dreams - and big investor disappointments. Interestingly, management has demonstrated some good timing on several exits from these companies. Perhaps it was this past that caused capital to be raised in Norway for an Alberta Company with Canadian operations. Seems odd.
Given the real value of QEC is a very small percentage of its current trading value if the dreams of PQ and Beaver River are not fully met, are investors being promoted?
Thoughts from investors with greater knowledge would be appreciated.