RE: CASH VALUEcorrect me if I am wrong, but back in March QEC did a placement for over 100 million, now I realize that gas prices were higher. However we also have to figure that anyone that drops 100 million is able to forecast NG prices and realizes that they will not stay this low forever. I am not buying the moratorium issue because it was already on that table back in March with NY state already having a moratorium. Also, a moratorium might not mean no drilling at all. I believe that GMR recieved permission in NY even though there was a moratorium. You have to think that it would be a lot harder for GMR to get permission in NY than it would be for QEC to get permission in Quebec. I think QEC is just trying to let the waters settle and not stir the pot before any new regulations come out.
How good would it be if QEC took the cash and bought back the equity issue at 1/3 the price and burned the shorts? You shorts do realize this is a risk?