Re: Comments about the report
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Message: Re: Comments about the report
Great post Tectol. Nice to get a different perspective...especially with the line "Imo this project has entered some kind of fast tracking although it's regarded as a set back right now."
The SP frankly was supported quite a bit today even at $1.20...and QEC told me they might be looking for an opportunity soon. I think many people realize how cheap this is, but of course they aren't in a rush...but a deal is a deal and people will buy no matter that the situation if it runs low.
I mean look at CQM...I don't own it, but they had huge news today from one for their projects and how they are moving forward soon...but this news tanked it big time anyway...but a lot of people I know are buying big into it that have bought into it before...not because they want to average down, but because the prospects are the same and they get a huge discount.
For QEC, nothing in the long term imo has changed. There is a point where the SP will hit and people will jump in no matter what things look like now, it's basic supply demand. I saw a lot of big firms get in today, and the majority of sales we around 1.20-1.25...it means that 2.5M shares were bought around then, so someone clearly sees value. Then again, 2.5M shares isn't a whole lot, I expected more.
Over the past few months, I saw that institutional owner percentage in QEC went from 27% to about 31% now...they like getting their bids filled, and this is a great time to buy, for myself anyway, if you have a long term look on things and believe in the prospects. The company re-iterated on the phone today nothing has changed for them. Frankly seeing them hold 19M shares over all these years, with huge spikes up should give people confidence. A company dumping shares doesn't look good, so management know the value here and they act it with staying the course and keeping shares. Even implementing the buy back was a huge vote of confidence, as I've never seen a mid cap buy back shares in the past 8 years of the stocks I've delt with.
Moreover, this was interesting. Colorado was getting attacked about fracing, and they went the distance to prove to everyone fracing was not at fault.
http://www.denverpost.com/commented/ci_17541788?source=commented-
Sounds pretty bad, so I thought I'd read the agency's case reports to see how Tracy Dahl was treated following his complaint last year that his water well had been contaminated by fracking at a nearby gas well.
How about responsiveness? Well, Dahl registered his complaint on June 30 and a state inspector was at his water well the very next morning to begin testing. Remember, Dahl lives in what he calls "the backwoods," not exactly a stone's throw from the nearest state office.
Nor was the inspector, Peter Gintautas, a low-level drone, but a scientist with a Ph.D. in chemistry.
Gintautas not only collected water samples, he also had them shipped to labs that very day. He returned on July 8 for more samples of water and sediment, shipped them immediately, too, and returned yet again on July 14. The samples were tested for antimony, arsenic, barium, beryllium, cadmium, chromium and a host of other substances — more than 30, all told. A battery of other tests was run on everything from methane gas to volatile organic compounds and bacteria. Gintautas describes the results in his final report of Dec. 1.
His conclusion: "The inorganic chemistry of water from your well is not similar to coal bed methane (CBM) produced water that was used for the fracture treatment . . . and does not appear to have been impacted by CBM operations." He then detailed a number of reasons why any relationship was extremely unlikely, citing not only the chemistry but also water level records and pressure and pumping records at the gas well.
Still not satisfied, Dahl requested a hearing before the full commission — and was granted one in short order. The commission's unanimous verdict: fracking was not at fault.
None of this is to suggest that oil and gas drilling is without environmental impacts, or that they can't occasionally be severe (see: Deepwater Horizon). But the ever-growing drumbeat against fracking refuses to acknowledge even elementary facts. Despite hundreds of investigations no less thorough than the one I've described, the state has never confirmed a single instance of fracking fluids migrating into water wells from where they were first injected.
Moreover, as COGCC executive director David Neslin told me, the state takes data from all water wells within 1 mile of a drilling site, requiring water well testing just after drilling and three and six years later, among numerous measures.
Bottom line is fracing hasn't showed problems when done with solid regulations and good companies that have these regulations in place. I watched a program with Devon Energy, the CEO said they fraced hundreds of thousands of wells without a single incident, and no complaints from residents or communities...or we would have heard about it.
Quebec will come to the same conclusion, and that way we don't have to hear people complain. Even today if you read, environmentalists still want a moratorium. I mean give me a break really. These people have tunnel vision and you CAN NOT get anywhere with them...so it's pointless to waste time. I thought for sure this was something they could really love and appreciate, the steps taken...but no. We have to focus on municipalities and the down to earth people looking to move forward responsibly who will meet you half way and help everyone win here.
Rocco
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