Quite a drop in flow, but not totally unexpected. Schedule is a bit behind but nothing to be concerned with at this stage of the summer. Remember they said 3rd Q results. We are barely into the 3rd Q. Also, in this NR is an interesting bit of information aimed at appeasing the people concerned about fracing near the freshwater aquifers as quoted below.

"Based on independent analysis of the fracs on previous wells, the microseismic results to date clearly indicate that the fracture stimulation does not propagate above the Utica shale. The top of the Utica is located at least 1,500m from the deepest fresh water aquifer."

All-in-all it is not what we were hoping for but it is better than no news.

Keep a positive outlook on this NR because we hope the next one will be better.

Good luck QECers. Regards, Foghorn