RE: " JORDANIAN OIL SHALE EXPERIMENT "I'm on the fence on this one. I agree in one sense that being over in an area such as Jordan comes with risks. And that money could be spent on production or shoring up the balance sheet.
Yet on the other hand I see QEC diversifying beyond just being a one trick pony should Quebec not pan out. At least they will have gotten a head start in a direction they can grow. Instead of waiting, missing an opportunity, and shareholders waiting years for something new. As well, they may get the Jordan play to coincide with the release of the Red Leaf technology.
I still believe that Quebec will resolve itself in positive favour for QEC. I have been in this since 2008 and am dying having to wait on this issue. But have used the opportunity to increase my position and work my average down quite low.
Just think if either one of these stories pan out (let alone both). As well, QEC has several other smaller plays at their disposal.
While there were several disappointing numbers in the recent report, there were several other positives. Even in this environment they managed to double their production while ramping down several of their plays. Think of what will happen to their numbers when the commodity prices rebound and the rest of their assets come back on stream. At least they are at a stage of generating cash flow. And some production is hedged higher.
I do see Binnion trying to get things going. He is proactive in Quebec. As well he has a lot tied up in this company. So do others on the executive. If management didn't have so much skin in the game that would be a red flag for sure. The reason I have not given up on this name is that the problems are not QEC specific. The shares are down due to politics and commodity. If it were for the fact that they have terrible drill results, mismanage the balance sheet, etc., then yes, it is a name I would have walked away from a long time ago.
Agree with your feeling that this has been dead money. This company has the potential to move up quickly. Not that we will see the kinds of spikes we saw in the past, but will be nice to get some clarity.
I share the frustration.