I agree with you as well on this one Rocco. Once more results start trickling in, the speculation will no longer a factor as it will then become a proven resource. With that said, targets will definetly be much much higher. Pareto Securities priced their target of 7$ and change based on the results to date and a low recovery.

This was from Anders back when Pareto updated their outlook

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Based on Talisman's and Forest's guidance we get

- Utica: NOK 90 per share unrisked potential

- Lorraine: NOK 110 per share unrisked potential

- NOK 40 Target Price with 30% risk factor on Utica and 10% risk
factor on Lorraine


* If next well results are in line with Forest and Talisman
guidance, we will increase the probability factors

- Utica potentially from 30% to 50% by year end --> +NOK ~20 per
share

- Lorraine potentially from 10% to 50% by year end --> +NOK ~40
per share

* Questerre internally estimates significantly higher resource
potential on both zones, in the order of +50-100%

- This may be firmed up on the next wells to be drilled

- In that case we could look at unrisked value of NOK 300-400
per share, and NOK 150-200 risked value / target price by year end
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Now I will rest my case because a stock with an unrisked value of 300NOK will not be tading for under 6$/CAN. This is why I am happy to be adding to my position at these levels. Sure I may buy and see it fall 10 cents, but long term (and even short term) it will be hard to lose once the play is deemed viable and gets the green light for development.

Johnyboy