I was talking to a friend, and if you read the financials, the value of the company is basically $1. This wasn't a value that was being made up. A few people on BNN also said the same thing a little while back and I wanted to see how they were getting their numbers. The assets - liabilities is approx $1, this putting no value on Quebec.

I know some people were talking about the SP. How did one make money on QEC is the last few years? Buying at $5-6, or buying at $1? This is the third time that the SP is this low in the past few years and is trading at a price lower than if the company was solid today for everything except Quebec.

This boils down to timing and nothing more. If you got time to spare, then it might be a good time to buy or average down...or park your money elsewhere until the time approaches to get in...maybe closer to drilling some wells etc.

What's happening now is the same thing that happens everytime QEC falls. There are buyers don't you worry, but it's a buyers market. No need to bid the price up when things have slowed down for the moment. So they'll toss in low bids and there is a high chance it will get filled. Same goes for when it starts to rise, people rush in like crazy and that's how we go up 200-300% in a short time frame.

There isn't much volume so any small bit of good news will definitely help out the SP.

I did have a quick question though to anyone who really knows about earnings and trading at multiples.

As Jason said, getting up to 2000bbls/d would significantly improve the market value here.

Companies trade 15X revenue etc, which if we were making huge revenues, we'd be given a multiple like those or something...which would drastically add value here. I know we had a few solid people on this board that knew those calculations. If anyone has any ideas on how that works, would love to hear some.

I know how gloomy it is when the SP is like this, but it always bounces higher and then remember how cheerful this board is :). Remember, you're dealing with a stock that moves $2-3 based on the results of one good well. It's all just a matter of time, or it could happen at any moment with the way this company comes out with news.

I am in a different boat though I will admit because I was buying in the 30's and 40's 6-7 years back...but I'm just hanging on and waiting it out.