Rocco,

The article is interesting to me from the standpoint that it puts an average dollar/mcf cost on all the M&A activity over the last while. Specifically, $0.60 USD/mcf of gas.

The author makes the somewhat normal error in his textual comments of assuming that since the "t" in "tcf" means Trillion, that the "m" in "mcf" must mean Million, when in fact it's the Roman numeral for 1000... It just goes to show how most of these "experts" really don't understand the business and just rehash other people's work. Having said that, the $0.60/mcf seems right.

The part I like is that it's yet another way to value QEC.

5 tcf of NG = 5 Billion mcf

5 Billion mcf x $0.60/mcf = M&A price of $3 Billion for QEC or...

$3 Billion / 234 million shares = Stock price of $12.82

All I can say is that at some point people are going to recognize what this company and it's land position is worth.

Brym