Questerre Energy Corporation (QEC)

TekBot · februar 2, 2022, 7:16am

Polling data confirms majority of Quebecers support zero-emissions gas projects

Calgary, Alberta, February 2, 2022 – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today the recent Quebec polling results on developing natural gas with new technologies.

Over 66% of decided Quebecers support local natural gas development and 20% have no opinion. This support increases to 74% with only 15% against if new technology is used to eliminate emissions, the use of municipal water systems and the use of toxic fluids below ground and 11% have no opinion.
…

Vis børsmeldingen

Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Over three years ago, the current Government made it clear to us that their approval for our project depended on demonstrating social acceptability. We have since worked closely with stakeholders to understand their concerns. This polling data and the support of local towns, farmers, trade unions and First Nations shows the progress we have made to achieve this goal.”

The poll was conducted for the Quebec Energy Association by Leger Marketing Inc. in October 2021. It sampled 2,800 Quebecers in all regions of the province. It has an estimated margin of error of 1.9%, 19 times out of 20.

Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s belief that this polling data and the support of local towns, farmers, trade unions and First nations shows the process made to achieving the goal of social acceptability.

Forward-looking statements are based on several material factors, expectations or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the effect of COVID-19 on the markets and the demand for oil and natural gas; whether the Company’s exploration and development activities respecting its prospects will be successful or that material volumes of petroleum and natural gas reserves will be encountered, or if encountered can be produced on a commercial basis; the ultimate size and scope of any hydrocarbon bearing formations on its lands; that drilling operations on its lands will be successful such that further development activities in these areas are warranted; that Questerre will continue to conduct its operations in a manner consistent with past operations; results from drilling and development activities will be consistent with past operations; the general stability of the economic and political environment in which Questerre operates; drilling results; field production rates and decline rates; the general continuance of current industry conditions; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Questerre to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Questerre operates; and the ability of Questerre to successfully market its oil and natural gas products; changes in commodity prices; changes in the demand for or supply of the Company’s products; unanticipated operating results or production declines; changes in tax or environmental laws, changes in development plans of Questerre or by third party operators of Questerre’s properties, increased debt levels or debt service requirements; inaccurate estimation of Questerre’s oil and gas reserve and resource volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in Questerre’s public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found under in the Company’s Annual Information Form for the year ended December 31, 2020, and other documents available on the Company’s profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Kilde

myk · februar 3, 2022, 4:43pm

Nå er det alvor i Quebec og slaget om QEC er i gang. Sterke ord i børsmeldingen i dag.
NewsWeb (oslobors.no)

Fartin · februar 3, 2022, 10:49pm

Det er mange dumme folk i politikken. Men føler smnge av de er engasjert i Norge Sverige og Canada. Fytti for noen surremikler. Er jo samme gale krakilske venstresiden her som vil banne olje osv . Sinnsyke folk. Her får de tilbud om clean gas og sier nei…

Hemingway · februar 5, 2022, 6:31am

Rett fra levra fra en canadier:" So I have heard the hotel rooms this weekend were bought up by the government. Borrowing money to buy hotels rooms and complaining that businesses are suffering. Empty hotel rooms not generating anything more. Convoy Tourists would have bought them and injected piles of money into the Ottawa Economy.
Again, government not understanding finances and torpedoing local economy."
Sier litt om canadisk økonomisk politikk 2022.

Hoven · februar 5, 2022, 9:17am

Hoven · februar 5, 2022, 2:27pm

.1. Nations i Canada er en vesentlig “pressgruppe” med egne rettigheter som er lovfestet.

Abenakis of Wôlinak Council er involvert i et skifergass-pilotprosjekt med selskapet Questerre, og har nettopp fått støtte fra Aboriginal Resource Council of Canada.
Denne organisasjonen representerer mer enn 130 First Nations som har en direkte interesse i energiproduksjon, og minner om intensjonen til regjeringen i Quebec om å forby leting og utnyttelse av hydrokarboner i provinsen.

“First Nations over Canada har rett til selvbestemmelse, og den retten inkluderer muligheten til å generere inntekter fra ressursene innenfor deres territorium,” sa Chief Brady O’Watch, nestleder i rådet. "IRC (Indian Resource Council) og sjef for Carry the Kettle First Nation, Saskatchewan.

“Vi har fulgt og fortsetter med stor interesse å følge Quebec-regjeringens intensjon om å forby all energiproduksjon uten hensyn til aboriginernes rettigheter og eksisterende traktater,” advarer han.

Det foreslåtte energisenteret vil produsere ren energi, inkludert nullutslippsgass, og vil bruke ny karbongjenvinningsteknologi. Utbyggingen vil også vurdere potensialet for karbondioksidbinding samt produksjon av rent hydrogen.

"Nullutslippsenergisenterprosjektet er i tråd med ønsket fra Abenakis i Wôlinak og folket i Quebec om å beskytte miljøet og redusere utslippene. Og det er en viktig inntektskilde som Abenakis sårt trenger for å nå målet om selvforsyning, legger sjef O’Watch til.

“For First Nations som har hydrokarbonreserver på deres territorium, er det avgjørende at provinsiell og føderal politikk ikke opphever eller forstyrrer urbefolkningens rett til å utvikle og dra nytte av disse eiendelene,” legger IRC-president Stephen Buffalo til.

Ifølge ham utgjør forbudet som ble annonsert av regjeringen i Quebec mot å produsere energi fra ressurser et klart brudd på forfedres og traktatrettigheter.

“Og IRC vil gjøre alt i sin makt for å støtte Abenakis i deres ønske om å utvikle deres økonomi på den måten de anser best for deres nasjon,” sa han.

For sjefen for Abenakis av Wôlinak, Michel Bernard, vil sann forsoning begynne når de første nasjonene kan utvikle sin egen økonomi for å sikre deres velstand og stabilitet, og når de kan delta fullt og helt og på en meningsfull måte i Quebec-økonomien og kanadiske . “Prosjektet vårt med Questerre vil bidra til å nå dette målet,” sier han.

Gunstig meningsmåling

I tillegg har Association de l’énergie du Québec (AEQ) gitt ut resultatene av en undersøkelse som viser at Quebecere i overveldende grad går inn for naturgassprosjekter i samarbeid med aboriginske samfunn.

Disse dataene er en del av en Léger-undersøkelse utført i Quebec i oktober med mer enn 2800 respondenter fra flere regioner. Syttito prosent av de spurte svarte ja da de ble spurt om Quebec-regjeringen burde tillate First Nations å delta i et naturgass-pilotprosjekt.

«Regjeringen har alltid sagt at den vil tillate utvikling hvis det er sosial aksept. Jeg lurer på hvordan vi kan søke mer aksept når det nesten ikke er noen motstand i Quebec mot respektfull, full og fullstendig deltakelse fra de første nasjonene, påpeker president Éric Tetrault.

I tillegg til sosial aksept, minner AEQ om at Quebec-regjeringen er pålagt å respektere prinsippet om selvbestemmelse for urfolk som anerkjent av FNs erklæring om urfolks rettigheter og rammeverket for anerkjennelse og regjeringen i Canadas implementering. plan vedtatt i juni i fjor.

Dette prinsippet sier tydelig at urfolk har rett til naturressurser på sine forfedres land for å sikre deres utvikling og velstand.

AEQ er klar over at denne avtalen mellom Questerre og Abenakis of Wôlinak Council kommer på et tidspunkt da Quebec-regjeringen vurderer å fremme et lovforslag om å forby produksjon av hydrokarboner i Quebec.

Den ber nok en gang regjeringen legge til rette for å gå videre med pilotprosjekter for CO2-fangst og -lagring og nullutslippsproduksjon av naturgass, null drikkevann, null giftige væsker og med en annen metode enn frakturering.

TekBot · februar 22, 2022, 5:33am

Questerre reports on proposed ban in Quebec

February 22, 2022, Calgary, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) issued a report to shareholders following the introduction by the Government of Quebec of Bill 21, An Act mainly to end petroleum exploration and production and the public financing of those activities.

Michael Binnion, President and Chief Executive Officer of Questerre, stated, “Our company has more than a thirty-year history in the natural gas industry in Quebec. Our founding shareholder, Terrenex, and its partners, drilled our first well here in 1991. The law proposes to revoke and cancel our license agreements that were freely entered into by the Province of Quebec at relevant times. It also expropriates our property rights with no meaningful compensation instead of reaffirming the principle of just compensation based on adequate value.”
…

Vis børsmeldingen

Over the years, we entered into many different license agreements with the Government of Quebec that clearly outlined our rights and obligations. We were required by the province to spend a substantial amount of money each year to explore for natural gas in Quebec. We were also responsible for safety and the environment. In return, we were granted rights to produce any discovery we made. We fulfilled our duties and safely operated under these agreements with virtually no complaints or problems. During this time, we were in good faith investing money in the province while the Quebec Government administered our agreements in a fair and reasonable manner.

Things changed when we finally made a potentially very commercial discovery. After years of no issues, suddenly there were complaints when we proposed to appraise and produce our discovery, not just spend money.

For some historical context, in the 1970s oil and gas policy changed dramatically in Quebec. The new policy was to make Quebec independent in energy. It was a strategic imperative that the province would be better off using its own resources. To this end, a provincially owned oil and gas company, Société Quebecoise d’Initiatives Petrolieres (“SOQUIP”), was started in 1970 to use Government money to explore for oil and gas. SOQUIP was reorganized after spending millions and not making a significant discovery. To facilitate more rapid exploration, in 1982, the Government expropriated resource rights from thousands of Quebecers and gave them fair and just compensation of a royalty in return.

The policy attracted private companies like ours who did eventually find success. The royalties granted to private citizens are now very valuable due to our work. The proposed law will expropriate these royalties from thousands of Quebecers with zero proposed compensation. There is no representative of these Quebec citizens being consulted by the Government on Bill 21.

After our discovery, we were told by successive Governments that our project required social acceptability in addition to legal compliance for us to produce the natural gas we discovered. We committed our company to excellence in social acceptability to comply with this new requirement.

We contributed to the Strategic Environmental Assessment on oil and gas activity conducted in Quebec. It is the most comprehensive environmental study on oil and gas in Canada. The conclusion of this study was the risks were low and manageable. We have seen through decades of experience elsewhere, that this is true.

We also consulted at length on a new energy policy in Quebec. This policy committed to a lower emissions future and included natural gas development to reach those goals. We also consulted on a new environmental law and regulations that are among the strictest in North America. We also consulted on a new Green Book and hydrocarbon law and the associated regulations. Up until September 2018, the Government of Quebec promised us a legal framework to obtain social license and comply with our license agreements. Even after 2018, the new Government indicated if our project gained social acceptability it could proceed.

We responded to the guidelines of the Green Book and the public comments on social acceptability of the new Government. Over this time, we engaged in considerable and comprehensive discussions and consultation with stakeholders. Based on the feedback from citizens of Quebec, including through several BAPE processes, we completely redesigned our approach to production and even consumption of natural gas.

In good faith, we committed to processes for near zero impact development, with a goal of zero emissions, zero toxic fluids, zero drinking water impact and zero fracturing. We agreed to give towns a share of profits and secured their support. We received support from many farmers groups and unions. We also agreed to give First Nations an interest in the net profits and an equity option covering their traditional territories. The new law proposes to confiscate these interests from First Nations with no compensation and the First Nations have not been invited to the consultations on the law.

As a result of our work, according to Leger polling from last fall, only 13% of Quebecers oppose our project with its new design. We believe it is more than fair to claim we have achieved social acceptability in Quebec. When we approached the Government with our new zero impact approach and confirmation that we believed we had reached a fair level of social acceptability, the unexpected response was to announce publicly a ban on Quebec oil and gas production. The reason given was to reduce greenhouse gas emissions in spite of independent evidence and studies, that demonstrate local production materially reduces global emissions. Local natural gas would use new carbon technology and avoid emissions from the long-range processing and transportation of natural gas.

Given our over thirty-year history of operating responsibly according to our license agreements and the law, plus our obvious and successful social acceptance progress, the Government announcement that it will break its agreements with us and its word to us, seems arbitrary and capricious. We understand the Government believes it has the prerogative to change its mind, change the law and not follow its own contracts. Yet, we are unaccustomed to see a developed nation confiscate the rights and ownership of its honest contractual partners while not even offering them fair, just and adequate compensation.

From an environmental perspective, this ‘ban and block’ approach has been proven ineffective time and time again for emissions and society. Ironically, this outdated mindset will lock Quebec into substantially higher emissions for much longer, likely decades. The modern approach is to transform our energy sources to low emissions energy with new carbon technology. This has led to our circular economy model to move forward on both the environment and energy in Quebec. As a result, there is no public utility in revoking our license agreements; it will instead make the global environment worse, and the province will continue to support and to be dependent upon others for its natural gas supply.

This is contrary to all sustainable development rules. One of which being, that the site of production should always be as close as possible to the site of its consumption. It is that principle which forbids Quebec from shipping its waste to less developed countries.

Through following the law, and spending hundreds of millions over a long period of time, we succeeded in finding something of great value. The Quebec Government may decide to block us from developing it and revoke our licenses and its word. But the discovery once made cannot be undiscovered and it has tremendous value to whomever owns it.

We think the Government of Quebec is making a fundamental mistake on a project that enhances Quebec society and has broad popular and local support. However, even if the Government chooses not to produce it but to keep it as a strategic reserve of natural gas, it confers great value to the citizens of Quebec. Though it is more likely, a future Government will choose to produce and profit from this giant gas field, as modern energy transformation technology becomes obvious to all. Whatever the Government pays us will be much, much less than the value to Quebec and its citizens. It is an unfair deal for our thousands of small shareholders compared to the opportunity to develop our discovery as originally agreed and promoted by the Government.

After all this time and our significant investments, we will of course spend whatever time and money is required for our many individual and institutional investors from Norway, Canada and around the world to be treated fairly. We have been blessed with loyal shareholders who have supported our efforts to succeed in Quebec, including backing us on a world-leading approach to energy transformation. We plan to work to amend and improve this law through the consultation process and the collaboration of other interested parties, and take whatever action appears necessary to protect our rights. The province has created legitimate expectations that investors would be treated fairly. It cannot simply fail to satisfy these expectations it has fueled and promoted. Predictability and trust are two defining components of free market economies seeking foreign investment. Bill 21 lacks both.

Mr. Binnion added, “It is not reasonable the actual impacted parties are not included in the consultations for this proposed law. Our efforts will also go to protecting small towns, ordinary Quebec citizens and First Nations who like our shareholders are equally impacted by the arbitrary approach of Bill 21. Given our project is demonstrated to be aimed at reducing global environmental impacts, there is no public utility in disadvantaging so many groups and the reputation of Quebec as a free society.”

We acknowledge and greatly appreciate that every day Quebecers have been open minded and that by listening to their concerns, and changing our approach, they responded with their support. We know this is not an issue of Quebec culture and ordinary Quebecers who are fair minded people who we count as friends.

Our future depends on progress and discoveries. Progress does not arise from bans or boycotts. It comes from innovative ways to use what we know, and what we discover, differently.

Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including, Questerre’s commitment to processes for near zero impact development with a goal of zero emissions, zero toxic fluids, zero drinking water and zero fracturing, Questerre’s plan to seek to have Bill 21 amended or, if necessary, enforce its rights under it agreements with the Government of Quebec and the potential impacts of Bill 21 on Questerre, First Nations and Quebecers. Forward-looking statements are based on several material factors, expectations or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre’s public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found under in the Company’s Annual Information Form for the year ended December 31, 2020, and other documents available on the Company’s profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Questerre’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

Kilde

TekBot · februar 24, 2022, 5:00am

Questerre files memorandum with parliamentary committee for Bill 21

Calgary, Alberta, February 24, 2022 – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has filed its submission with the parliamentary committee in Quebec on Bill 21, An Act mainly to end petroleum exploration and production and the public financing of those activities. The submission includes independent assessments on the economic and environmental impacts of development and the detailed polling data on social acceptability showing strong support for local natural gas production under different scenarios.

Commenting on the first few days of the consultations, Michael Binnion, President and Chief Executive Officer of Questerre, noted, ”We heard from mostly hand selected witnesses who are proponents of outdated ideas of using bans and blocks to reduce emissions. Several of them repeated old talking points without any acknowledgment the rest of the world is moving on from this old fashioned and ineffective approach. Questerre has been working with a new generation of solutions orientated environmentalists. The environmental studies clearly support the modern approach of energy transformation with emerging carbon technologies. According to the Leger polling data, only 13% of Quebecers oppose this new approach, but sadly the Government has intentionally selected witnesses from this ‘fossilized’ minority who appear more worried about their chosen projects, than reducing global emissions.”
…

Vis børsmeldingen

The submission by Questerre comprehensively addresses the Company’s history in Quebec, environmental impacts of the bill including that outlawing location gas production will have no impact on Quebec’s GHG emissions and it will increase global emissions as well as locking Quebec into higher existing GHG emissions, the increased risk to human health and safety from energy shortages and outages and Quebec lagging behind other developed nations in advancing new carbon technology. The submission also discusses the economic and fiscal implications of the ban including the growing reliance on imports and the increase in its trade deficit due to these imports, surrendering the economic benefits from development and the impacts to Quebec’s reputation as an jurisdiction for foreign investment.

He added, “It’s disappointing to see Quebec is blocking a step forward for the global environment and society. It is telling that many witnesses have explicitly said even pilot projects for natural gas production must be blocked even if they reduce global emissions. Nothing more clearly says ‘living in the past’ than calling for a ban on even trying to reduce emissions from natural gas with new technology or approaches. The rest of world is moving forward and attempts by reactionaries to block progress will just move the emerging carbon technologies of the energy transformation to forward-looking countries. That the rights of local small retail shareholders, local Quebec royalty holders and First Nations are being run over in the process is a particularly unjust result for thousands of people who support progress on transforming our global energy systems.”

The Company also released the detailed polling information from Quebec on developing natural gas with new technologies.

As reported previously, over 66% of decided Quebecers support local natural gas development and 20% have no opinion. For production from a pilot project with no GHG emissions, this support increases to just over 77% of decided Quebecers with 12% having no opinion. Nearly 85% of decided Quebecers agree that the Government should give First Nations the opportunity to participate in pilot projects that demonstrate zero-emissions natural gas production with 15% holding no opinion.

The polling data showed support for traditional fracturing methods was 37% with 45% against and 18% holding no opinion. If a new technology was used that eliminated the risks associated with fracking, support almost doubled to 71% in favor with 17% against and 12% holding no opinion.

Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including, Questerre’s perspectives on the parliamentary commission on Bill 21 and the environmental, financial and other impacts of Bill 21 as detailed in its submission.

Forward-looking statements are based on several material factors, expectations or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre’s public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found under in the Company’s Annual Information Form for the year ended December 31, 2020, and other documents available on the Company’s profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Questerre’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

Kilde

Hoven · mars 22, 2022, 7:22am

Zuba · mars 22, 2022, 9:03am

Trekker tilbake forrige spørsmål. Fikk lest meg litt opp rundt Bill21.

Hoven · mars 25, 2022, 7:45am

Quebec: While we await the final legislation including any revisions to the provisions for pilot projects such as ours and compensation, we have preserved our legal position to protect our rights.

Jordan/ Red Leaf: Higher oil prices also saw renewed interest in Red Leaf, our investee company. They have reengineered their proprietary technology to produce oil at prices below US$40/bbl and near-zero emissions. Engineering is now underway for a small-scale commercial plant to validate this design and the potential to co-produce rare earth elements from their Seep Ridge project. When proven this could be a game-changer for our project in Jordan.

Gjeld: Resurging demand led to stronger oil prices and higher natural gas prices, particularly in the last quarter, as a result of an LNG shortage and unreliable renewable power in Europe. We took advantage of these prices to almost completely pay off the net borrowings under our credit facility and improve our liquidity.

Økonomi/guiding produksjon: We generated adjusted funds flow from operations of $14.5 million (2021: $6.1 million) with daily production averaging 1,480 boe/d (2020: 1,966 boe/d). With new wells expected onstream in the second quarter this year and the potential reversion of our royalty interest in Kakwa North to a working interest, we anticipate our production could grow materially in the second half of this year. The outlook for higher commodity prices also increased the value of our proved and probable reserves. We replaced existing production and the NPV-10% increased 70% to $270 million. This led to a reversal of a $92 million impairment charge booked last year which was offset by the $104 million impairment charge related to our entire Quebec assets. Subject to the operators at Kakwa accelerating development plans, we expect our current capital spending of $9 million in the year to be fully funded by adjusted funds flow from operations.

First Nations: Early this year, we entered into an agreement with the Wolinak of Abenaki First Nation for development on their traditional use lands in the Becancour area in return for a net profit interest and an equity right to participate in future development. On a broader basis across the province, polling data confirms that decided Quebecers support local development by a margin of 2:1 or over 66%. For production from a pilot project with no GHG emissions, this support increases to just over 77% of decided Quebecers with 12% having no opinion. Nearly 85% of decided Quebecers agree that the Government should give First Nations the opportunity to participate in pilot projects that demonstrate zero-emissions natural gas production with 15% holding no opinion.

TekBot · mars 29, 2022, 4:14pm

Questerre 2021 Annual Report

Hoven · mars 30, 2022, 7:09am

Sparebank 1 Markets jekker opp kursmålene for en lang rekke olje- og gassaksjer
Sparebank 1 Markets har ifølge TDN Direkt oppgradert Equinor til kjøp fra nøytral, og oppjusterer samtidig kursmålet på en lang rekke olje- og gasselskaper.

Meglerhusets anbefalinger og kursmål (tidligere kursmål i parentes)

Aker BP, kjøp, kursmål 450 (355)
BW Energy, kjøp, kursmål 38 (35)
DNO, nøytral, kursmål 14 (13)
Equinor, kjøp, kursmål 370 (280)
Noreco, kjøp, kursmål 400 (265)
Okea, kjøp, kursmål 42 (35)
Questerre Energy, nøytral, kursmål 3 (3)
Vår Energi, kjøp, kursmål 55 (-)
Panoro Energy, kjøp, kursmål 42 (38)
Petronor, nøytral, kursmål 1,6 (1,5)

kanina · april 9, 2022, 10:00am

Kansje denne hjelper på kursen

Hoven · april 12, 2022, 7:34am

The company, which declined to say with whom it’s been discussing the plan, said it’s encouraged by the fact that both Canada’s Prime Minister Justin Trudeau and Natural Resources Minister Jonathan Wilkinson have publicly expressed interest in the country’s ability to supply LNG, and potentially hydrogen at a later stage, to Europe.

TekBot · april 13, 2022, 11:09pm

Government of Quebec passes Bill 21

Calgary, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that the Government of Quebec has passed Bill 21, An Act mainly to end petroleum exploration and production and the public financing of those activities.

Michael Binnion, President and Chief Executive Officer, commented, “We are incredibly disappointed that the Government of Quebec has chosen to proceed with this legislation. By blocking the development of its natural gas resources with zero-emissions technology for export, Quebec is missing an important opportunity to work with other nations to provide secure, reliable energy for our European allies. It also leaves the province highly dependent on imports of natural gas and petroleum that meet more than half their energy needs. Moreover, this does nothing to actually reduce greenhouse gas emissions in Quebec or globally.”
…

Vis børsmeldingen

He added, “We were also deeply disappointed to see that the Government failed to honor their legal obligations to consult with the Wolinak of Abenaki First Nation who have partnered with us to develop their land. The Wolinak Abenaki Council has called on the Government to respect and engage with them for development on their traditional territory. If the Government declines this invitation, the Council will have no choice but to proceed with its claim by obtaining an ancestral aboriginal title.”

He further added, “As we wait for Bill 21 to come into force, we will be assessing our legal options to preserve the rights of our shareholders.”

Bill 21 was approved by the elected representatives of the National Assembly in Quebec. A provisional copy of the legislation is available online at http://www.assnat.qc.ca/en/travaux-parlementaires/projets-loi/projet-loi-21-42-2.html. It has received the assent of the Lieutenant Governor of Quebec. The law, in whole or in parts, will come into force at the Government’s discretion following the finalization of the associated regulations including the proposed compensation program.

Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment, and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s views on Bill 21 and its plans to assess legal options to preserve the rights of its shareholders.

Forward-looking statements are based on several material factors, expectations or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre’s public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found under in the Company’s Annual Information Form for the year ended December 31, 2021, and other documents available on the Company’s profile at www.sedar.com. The reader is cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Questerre undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Kilde

pleximus83 · april 14, 2022, 10:34am

Leolion · april 14, 2022, 12:12pm

Synd, men vist som et mulig utfall.
Da blir det erstatning.
Har sett forslag på ulike, men store erstatningssummer.
Kan vi forvente å få alle investeringer tilbake, samt evt. %andel av tapt omsetning/fortjeneste for feltene…?
Noen som har tips til realistisk anslag…?

Brennemo99 · april 14, 2022, 1:49pm

Det er neimen ikke sikkert de får noe som helst her

Ayeres · april 14, 2022, 1:50pm

Nitrist, føles utrolig tungt ut akkurat nå.