Lake Frances Field
Adding to the successful completion of the two natural gas wells drilled in June and the potential for successful completion of these next two December wells would give QMAC an interest in a total of eight (8) producing wells in the Lake Frances Gas Field.
QMAC plans to continue drilling in the Lake Frances Gas Field.
Currently 6% of the U.S. natural gas production remains off-line due to recent hurricane damage. Normally, a drawdown of natural gas supplies occurs in the coldest months of the year, and November is not one of the historically coldest months. Yet, declining fuel inventories for November have already been reported. It's early for that to have happened and does not bode well for the colder months ahead. As we slip into December, one of the coldest months of the year, there is a shortage of energy, and it's probably a long-term problem that will become more acute as the winter progresses.
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