The author argues Quebec is preparing to allow development of its St. Lawrence Lowlands gas fields, which could then be exported to Europe as LNG via the St. Lawrence, and that PCQ.V holds licenses/royalties in that play. The catalyst is a shift in Quebec permitting policy, reinforced by news of Kino Aski LNG and Naftogaz exploring a Canadian LNG supply partnership for Europe. The author states they hold a full position in PCQ. Main risk is that Quebec's permitting stance does not actually change.