RE:An accurate estimate of discoveryCouple of comments here:
- CEO of Questerre has commented publicly many times NG in Quebec would fetch $6+ per 1000 cubic ft because of proximity to market.
- valuing this company solely on the Sproule report is extremely short sighted in my opinion. Look at how hard it is to accumulate a meaningful block of stock without pushing the stock up. Look at market caps of other junior oil and gas companies that have similar land positions and acreage as PCQ outside of Quebec
- when the discovery was announced last fall the first thing PCQ did was put a picture of the core on their website to show off the porosity. Combine this geology along with information that both oil and gas has been found in mining holes and noticed at surface in natural fractures inside the property in my opinion when the drills start turning it's only a matter of time before more conventional natural gas And potentially a conventional light oil reservoir is found. That's right I said OIL! JML will also be putting a drill program in place so lots of news in the future! Comparing the geology with Saudi Arabia, just think of what the potential is!
- all this without even considering the shale gas Utica holdings. PCQ was one of the first to bring a meaningful partner to the forefront with Canbriam and I have my theories about them hitting something very meaningful with the secretive Farhnam well. It will be interesting to see what the liberals say in the budget in the next few weeks. Any talk of revisiting shale gas by the liberals will send all the quebec shale gas players into orbit. It's no secret the coffers are in terrible shape in quebec! If they want their subsidized day care, subsidized tuition and other expensive social programs better start generating new streams of revenue or else be faced with extreme austerity!!
Good luck to everyone here!!