Here is a link to Jennings Capital. They recently posted an Analyst Report on Questerre. You can sign up for a free account with them and access the report below:

http://www.jenningscapital.com/reports/QEC02192010Initiating_Coverage.pdf

This report came out before the 12 mmcf results were released. They had a target for QEC of $4.50 before the results. They have since raised QEC's price target.

THIS PART OF THEIR EVALUATION IS ALSO VERY INTERESTING!

1. Valuation – We are initiating coverage on Questerre Energy Corporation with a SPECULATIVE BUY rating and a 12-month target price of $4.50 per share, which represents a potential return of 26%. If Québec’s Utica play is deemed to be commercially viable, our model indicates that Questerre’s share price could be worth over $13.00 per fully diluted share (Page 16).