Ann: Pisces 8 and 9 Fracture Stimulation Complete, page-14

Yes I should have said for some time not a long time for gas prices although going back 25 years for prices is fairly meaningless unless you adjust for inflation .
The price of petrol has little direct relevance to CE1 .
It is gas and oil that we produce and get paid for .

Fwiw I think that the gap between gas prices in Nth America compared to international prices will close significantly in the future .
In spite of the talk about the low investment going into exploration and the new discipline of the shale drillers returning profits to share holders , US shale is producing at all times highs .
Lots of associated gas that needs to find a home and the big LNG plant that has been out of action contributed to the glut too .

However there are more LNG plants being built and planned in the USA and Canada that should greatly help the supply and demand situation .
Some analysts seem to think that Shale has nearly reached its peak too .

Prices for gas in Europe have come off their highs and are still in steep decline but are on an energy basis still much higher than oil .
It is still extremely very profitable for LNG from North America and an incentive to build new Nth American LNG export plants .

The forward price signals for Montney gas look very strong to me even if the current gas prices are low .