Yes. The government ordered BAPE to put the shale gas industry under the microscope, and report back with recommendations on how to develop the industry. The report is expected February 26th but could be released earlier from what I have read in the papers.
If positive, the BAPE Report will bring confidence back to drilling within the ST. Lawrence Lowlands and Canada in general. Most companies are still sitting on the sidelines waiting for this report.
Michael Binnion, President and Chief Executive Officer of Questerre stated "we have over 90% support from 449 land owners. If our reception in Saint-?douard is a guide, once citizens are properly informed, people in the region are overwhelmingly in favour of shale gas development."
Even with this support Questerre has elected to defer projects pending receipt of the BAPE report.
IMHO this report could have the potential to ignite interest in Quebec once again.
MPO Price at posting:
$1.08 Sentiment: Buy Disclosure: Held
