Hi liulian,

I have to respectfully disagree with it taking 1-2 years for qec to get to the $5-6 level. We will have many wells from TLM by the end of the year and all through early 2009 and so forth, and from Forest soon as well. If results are favorable, there will be quite a few buyers dispite market conditions. QEC's value will then be based on the reduced speculation and it will start to be valued using a proven gas basis...this is an emerging play and I doubt anyone would want to miss out on the most economic shale gas play in North America. At a $6.50 or so share price, we're being valued in at $3500/acre...which for a proven play is incorrect...but as results come in over and over, with consistancy as I would imagine, then the value on a per acre basis should go up to reflect other shale plays, but possibly more because of its economics...high shale plays in Texas and NY have fetched upwards up to $35000/acre, and companies have paid that out no problem. So it doesn't take long to shoot the SP of a company up in these circumstances with good results.

For all we know, Talisman or a US major could come in and say we'll give you $5000/acre for your land, and then you'd most likely see the SP reflect that in one day...and we'd jump to $7-8....so who knows what tomorrow will bring, but with good results, it won't take two years to get there...but hey, that's my opinion.

Anyone else have any thoughts of their own about the SP and valuation with expected good results?

Rocco:)