I believe JNX will trade in a range between 4.90 and 7.00 until Forest Oil begins drilling their 3 test wells (1 on Junex land, and 2 on Gastem/Questerre's land). This is scheduled to occur in July 2008, but it may be delayed. The market will probably anticipate the results so a new high may occur after drilling has begun. It takes about 15 to 30 days to drill a horizontal well, 30 days to fracture stimulate, and 30 days to drain the frac liquid (approximately 75 to 90 days in total).

I sold my small position in CEX because I was not satisfied with the flow test results that Triangle Petroleum achieved in the second test well.