LOTS OF ACTIVITY............ Questerre Energy* (QEC : TSX : $3.55), Net Change: 0.35, % Change: 10.94%, Volume: 1,114,918
Talisman Energy* (TLM : TSX : $18.90), Net Change: 0.93, % Change: 5.18%, Volume: 5,091,487
“Utica Shale in Quebec: La nouvelle frontiere.” – Canaccord Adams. The news flow from the Utica Shale Play, ahead of multiple drilling result catalysts in the coming months, continued yesterday. Questerre announced that the operator, Talisman, confirmed that field work is underway on a re-completion of the Gentilly #1 well. Questerre said the Gentilly #1 well will be fracture stimulated in several intervals prospective for shale gas. Following the stimulations, an extensive testing program will be conducted. The object of the program is to assess the potential commerciality of vertical well completions in this thick shale package. The original discovery in the Trenton Black-River zone in this well has been suspended on a temporary basis during this operation. Talisman also confirmed that it is mobilizing a rig to the Lowlands and the next well on Questerre’s acreage is scheduled to spud by mid-August. In a July 28, 2008 research report titled, “Utica Shale in Quebec: La nouvelle frontiere”, Canaccord Adams states that we like how the Utica Shale exploration program is unfolding. The play is now anchored by two big players: Forest Oil (FST) and Talisman. In addition to capital, these producers are bringing expertise and know-how. .