Questerre Energy Corporation (QEC)

TekBot · april 30, 2024, 9:00pm

2023 Audited ESEF Financial Report

hgsd300 · mai 6, 2024, 6:08am

https://www.journaldemontreal.com/2024/05/04/le-gaz-naturel-et-le-nucleaire-font-partie-de-la-solution-selon-pierre-fitzgibbon

Naturgass og kjernekraft er en del av løsningen, ifølge Pierre Fitzgibbon
Ministerens kommende lovforslag vil dekke bordet for en diskusjon om Quebecs energimiks
Naturgass og kjernekraft er en del av løsningen, ifølge Pierre Fitzgibbon
HANDELSKAMMER I METROPOLITAN MONTREAL

DAVID DESCÔTEAUX
Lørdag 4. mai 2024 kl. 00:00

OPPDATER Lørdag 4. mai 2024 kl. 00:00

DELING
Vannkraft alene vil ikke være i stand til å dekarbonisere Quebec, og lovforslaget som vil bli fremmet innen juni vil legge bordet for en “diskusjon” om Quebecs energimiks .

Dette ble støttet fredag av ministeren for økonomi, innovasjon og energi, Pierre Fitzgibbbon, under et arrangement arrangert av handelskammeret i Metropolitan Montreal.

“Åpenhet”
"Vi må snakke om energimiksen og åpenhet. Men vi hadde aldri den diskusjonen. Planen vår vil si: hva er nødvendig for å netto dekarbonisere provinsen i 2050? Og det vil ikke bare være vannkraft, vi vil innse at det er andre energikilder som vi også trenger,» erklærte han i et overfylt rom på Queen Elizabeth Hotel.

Blant de “andre” energikildene snakket ministeren en sjelden gang om naturgass. «I Quebec bruker vi for tiden tilsvarende 7000 megawatt naturgass. Å tro at det ikke kommer mer naturgass i morgen tidlig, det vil ikke skje. “Vi måtte bygge fem komplekser som Romaine bare for å erstatte naturgass,” forestilte han seg.

Nytt termisk kraftverk?
Journal avslørte i februar at Hydro-Québec tok opp muligheten for å bruke naturgasskraftverket Bécancour (400 MW) og et «nytt termisk kraftverk» under diskusjoner med Pierre Fitzgibbons departement.

Atomkraft vil også være «uunnværlig», ifølge ham. "Med mindre det er nye teknologier som utvikler seg i fremtiden, vil atomkraft være en nødvendighet. Verden vil ikke avkarbonisere uten atomkraft. Ekspertene er enstemmige. Eller så sier vi nei, og i så fall må vi bygge tjue dammer.»

Ministeren satser stort på sin integrerte energiressursforvaltningsplan (PGIRE), som vil bli avduket under presentasjonen av lovforslaget om energisektoren neste måned.

“Denne planen vil tillate Quebecers å innse at for å dekarbonisere, hvis vi ønsker å være konsekvente, må vi ta handlinger som vil ha en sosial og økologisk kostnad, og vi vil bestemme om vi skal gjøre det eller ikke,” sa han.

Klippet fra HO.

TekBot · mai 9, 2024, 7:11pm

Questerre files Information Circular and Notice for Annual Meeting of Shareholders on June 18, 2024

TekBot · mai 11, 2024, 12:01am

Questerre files Q1 2024 Report

President’s Message

During the quarter, we applied for a pilot project under Bill 21 in Quebec. In addition to a comprehensive test of the carbon storage potential on our lands, we propose to pilot zero-emissions hydrogen production. Following the Government’s recent investment in the carbon capture and storage space, we are optimistic this could be an integral part of their strategy to meeting emissions reduction targets.
…

Vis børsmeldingen

On the legal front, a pre-trial ruling on our legal claim suspended key provisions of Bill 21 pending a hearing on the merits of our case. The Government has since been granted leave to appeal the ruling.

Carbon capture and storage (“CCS”) is also important to our plans to build assets outside Quebec. We are exploring opportunities to develop zero-emissions projects using carbon storage with First Nations in Alberta.

Earlier this year at a presentation to the Montreal Chamber of Commerce, the Minister of Economy, Innovation and Energy of Quebec noted that for both small businesses and large companies there will be energy shortages for probably about a decade. Though the Minister noted that many new projects are prepared to wait, in the interim Quebec would need to be frugal in how they consume electricity. In addition to the electricity shortage, the natural gas market is shifting to a more expensive product mix. The provincial gas distribution company is seeking to replace conventional natural gas with renewable natural gas at a cost of at least twice the price.

The Government is considering a nearly $200 billion investment by the provincial utility over the next decade to build out additional hydro and offshore wind capacity. We hope that they see our Clean Gas as an answer that is both more timely and environmentally sustainable as a part of Quebec’s energy mix. Moreover, instead of requiring investment, it will contribute to provincial revenue, increase GDP, and create jobs.

The electricity shortages in Quebec continue to grow with demand for electricity reaching a new high last year of over 43 gigawatts, exceeding their installed capacity of 38 gigawatts. This supply demand imbalance has a knock-on effect to their plans for reducing emissions as electrification figures in plans to meet these goals. It is here too, that our CCS pilot could make a difference.

Our pilot project will test the carbon storage potential of a deep formation in the province. We have designed it to advance to commercial development with the possibility for a carbon dioxide pipeline connecting to the industrial park at Becancour. The second part of our pilot to demonstrate a small-scale zero-emissions hydrogen process could help both reduce emissions and provide clean energy.

As we work with the Government on our application and the related funding for the project, we are proceeding with protecting our legal rights after Bill 21 was enacted. The questioning of Questerre and other license holders was completed last month and later this summer, we will complete the questioning of the Government representatives. The next step will be setting a date for the hearing next year on the merits of our case.

As we work with the Government on our application and the related funding for the project, we are proceeding with protecting our legal rights after Bill 21 was enacted. The questioning of Questerre and other license holders was completed last month and later this summer, we will complete the questioning of the Government representatives. The next step will be setting a date for the hearing next year on the merits of our case.

The importance of emission reductions has also led Red Leaf to look at broader applications of their technology. At its core, the technology combines combustion in an oxygen-rich environment with carbon capture to generate heat and power at relatively low pressure. We are helping them assess how this stacks up against similar technologies as well as its costs relative to capture carbon dioxide post combustion. It is still early days though the technology, if sufficiently novel, could be a game-changer for industrial heat generation.

Operating & Financial

At Kakwa Central, the last of three wells spud this month and, subject to completions and tie-ins, will likely be on stream for the fourth quarter. Until then, we expect our production volumes to decline naturally. Reflecting this decline, our production volumes for the quarter decreased by under 10% over the same period last year and averaged approximately 1,700 boe/d.

Lower commodity prices and production contributed to lower revenue and adjusted funds flow from operations in the period. We generated $3 million in adjusted funds flow from operations compared to $4.3 million last year. Net of capital investment of $2.6 million, we nominally increased our working capital surplus of mainly cash to just over $30 million.

Outlook

Originally developed for Quebec, our zero-emissions project design that includes CCS could be applied elsewhere in North America if decarbonization remains a priority. Our newly appointed Director, Jauvonne Kitto, will help these efforts with First Nations and the associated government funding opportunities. Although this is a new business for us it leverages our expertise with both subsurface and gas processing and compression facilities. Our main focus remains to unlock our large, discovered resources.

This is particularly true in Quebec where we identified a prospective formation for storage over three years ago. Our pitch to the Government is that establishing the carbon storage potential is valuable to them regardless of the outcome of our legal claim. On this basis, we hope they approve our application and provide the necessary funding. Demonstrating how we can reduce emissions from gas consumption will hopefully open the door to natural gas as a transition fuel in Quebec’s energy policy.

Michael Binnion, President and Chief Executive Officer

Kilde

TekBot · mai 11, 2024, 12:01am

Questerre reports first quarter 2024 results

Calgary, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended March 31, 2024.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, “During the quarter, we applied for a pilot project under Bill 21 in Quebec. In addition to a comprehensive test of the carbon storage potential on our lands, we propose to pilot zero-emissions hydrogen production. Following the Government’s recent investment in the carbon capture and storage space, we are optimistic this could be an integral part of their strategy to meeting emissions reduction targets.
…

Vis børsmeldingen

On the legal front, a pre-trial ruling on our legal claim suspended key provisions of Bill 21 pending a hearing on the merits of our case. The Government has since been granted leave to appeal the ruling.”

He added, “Carbon capture and storage is also important to our plans to build assets outside Quebec. We are exploring opportunities to develop zero-emissions projects using carbon storage with First Nations in Alberta.”

Highlights
• Quebec Superior Court grants stay on key provisions of Bill 21 and Government granted leave to appeal
• Questerre applies for carbon storage and zero-emissions hydrogen pilot in Quebec
• Average daily production of 1,664 boe per day with adjusted funds flow from operations of $3 million

Reflecting natural declines, production volumes decreased nominally in the first quarter of 2024 to 1,664 boe/d from 1,790 boe/d last year. Production volumes are expected to continue their natural decline until the three (0.75 net) wells drilled this year at Kakwa are completed and tied-in later this year. For the quarter, petroleum and natural gas revenue reflected lower production volumes and realized commodity prices and totaled $9.0 million in the period compared to $10.5 million last year. The Company generated a net loss of $0.2 million for the quarter (2023: $0.9 million net income) and adjusted funds flow from operations of $3.0 million compared to 4.3 million last year.

The Company incurred capital expenditures of $2.6 million for the period (2023: $3.2 million) and reported a working capital surplus of $30.2 million as of March 31, 2024 (2023: $25.1 million).

The term “adjusted funds flow from operations” and “working capital surplus” are non-IFRS measures. Please see the reconciliation elsewhere in this press release.

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 the inclusion of carbon capture and sequestration as an integral part of the Government of Quebec’s plans to meet emission reduction targets and its expectation on the timing of production increases from new wells drilled at Kakwa.

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, 2023, 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.

(1) For the three-month period ended March 31, 2024, liquids production including light crude and natural gas liquids accounted for 978 bbl/d (2023: 1,022 bbl/d) and natural gas including conventional and shale gas accounted for 4,114 Mcf/d (2023: 4,607 Mcf/d).

Barrel of oil equivalent (“boe”) amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and the conversion ratio of one barrel to six thousand cubic feet is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

This press release contains the terms “adjusted funds flow from operations” and “working capital surplus” which are non-GAAP terms. Questerre uses these measures to help evaluate its performance.

As an indicator of Questerre’s performance, adjusted funds flow from operations should not be considered as an alternative to, or more meaningful than, cash flows from operating activities as determined in accordance with GAAP. Questerre’s determination of adjusted funds flow from operations may not be comparable to that reported by other companies. Questerre considers adjusted funds flow from operations to be a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund operations and support activities related to its major assets.

Three Months Ended March 31,
($ thousands) 2024 2023
Net cash used in operating activities $ 2,628 $ 4,648
Change in non-cash operating working capital 345 (371)
Adjusted Funds Flow from Operations $ 2,973 $ 4,277

Working capital surplus is a non-GAAP measure calculated as current assets less current liabilities excluding risk management contracts and lease liabilities.

Kilde

snorre31 · juni 4, 2024, 8:44am

Følg med på QEC fremover!

Innen 8. juni skal en ny energilov muligens åpne opp for at QEC kan utvinne mer av sine områder.

Ikke mange børsdagene igjen til 8.juni og det kan gi et pent forventningrally fremover dersom en åpning impliserer en børskurs på godt over kr 30, kanskje helt opp til kr 50? Uansett, oppsiden er meget solid dersom utvinningen blir godkjent. Hvem tør sitte på utsiden når helgen kommer og dette annonseres?

«Energi- og ressursminister Pierre Fitzgibbon skal innen 8. juni legge frem et omfattende lovforslag om provinsens energirammeverk. Han har vurdert over 150 industrielle prosjekter, og noen av disse er allerede valgt. Regjeringen vil kunngjøre de utvalgte prosjektene om noen uker.» https://www.journaldemontreal.com/2024/05/28/aeroports-de-montreal-craint-de-manquer-delectricite-pour-ses-projets

mrmegerjeg · juni 5, 2024, 12:14pm

Når jeg leser om hva Minister Pierre Fitzgibbon selv sier: Så er det INGEN TING SOM TYDER PÅ AT DE VIL GODTA FOSILL ENERGI LENGER.
JEG TROR DENNE OPPGANGEN KRÆSJER…MEN ER … IKKE SIKKER. VOLDSOMT MYE OMSETTING I AKSJEN FOR TIDEN , ER DET NOEN SOM VEIT NOE? HMMM…
Det kommer vel en erstatning uansett. Så uansett burde den stablisere seg på ca 1,8 .men derimot den kan gå høyt (beklager store bokstaver) What we know about the Fitzgibbon Reform – Kruathai N

Hoven · juni 5, 2024, 6:43pm

Ny energilov kommer i morgen:

“”“Pierre Fitzgibbon, invites media representatives to a press conference on the tabling of the bill ensuring the responsible governance of energy resources”""

“”" ansvarlig forvaltning af energiressourcer “”"

INVITATION TO MEDIA - Press conference on the tabling of the draft law on the responsible governance of energy resources and amending various legislative provisions
NEWS PROVIDED BY

Office of the Minister of Economy, Innovation and Energy and Minister responsible for Regional Economic Development
05 June, 2024,

QUEBEC, June 5, 2024 /CNW/ - The Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montreal Region, Pierre Fitzgibbon, invites media representatives to a press conference on the tabling of the bill ensuring the responsible governance of energy resources and amending various legislative provisions.

It should be noted that the press briefing will only take place if the Assembly agrees to take up the bill.

Date:

Thursday 6 June 2024

Time:

11h30

Location:

Evelyn - Dumas Room

National Assembly

hgsd300 · juni 5, 2024, 6:55pm

Spenningen er og ta og føle på

snorre31 · juni 5, 2024, 7:05pm

Herregud, skal det endelig lykkes for QEC?
Får QEC ja til utvinning i Québec så tilsvarer det konservativt verdier for minst kr 30 og potensielt inntil kr 55.

Mulig kurs starter mellom kr 8-10 for så å dra seg oppover ved ja?

Jeg husker tilbake for mange år siden da QEC gikk 15X fra kr 2 til over kr 30 på få uker, er tiden kommet til ønskereprise?

Nå må en kjenne sin besøkelsestid

Hoven · juni 5, 2024, 8:09pm

Natural gas and nuclear power are part of the solution, according to Pierre Fitzgibbon

The minister’s upcoming bill will set the table for a discussion on Quebec’s energy mix

https://www.journaldemontreal.com/2024/05/04/le-gaz-naturel-et-le-nucleaire-font-partie-de-la-solution-selon-pierre-fitzgibbon#cxrecs_s?utm_source=ground.news&utm_medium=referral

snorre31 · juni 5, 2024, 8:48pm

For noen dager aksjonærene i QEC ser ut til å ha i vente.

TekBot · juni 7, 2024, 6:01am

Quebec Government tables Bill 69

Calgary, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE: QEC) reported that the Quebec Ministry of Economy, Innovation and Energy (the “Ministry”) tabled in the Quebec National Assembly Bill 69, An Act to ensure the responsible governance of energy resources and to amend various legislative provisions (“Bill 69”). A copy of the legislation is available online: https://www.assnat.qc.ca/en/travaux-parlementaires/projets-loi/projet-loi-69-43-1.html.

As reported by the Ministry, the centerpiece of the proposed legislation is an integrated energy resource management plan to promote energy development in Quebec. Among other things, it will establish for electric power and natural gas markets, policy directions, objectives and targets regarding supply, energy infrastructure and innovation.
…

Vis børsmeldingen

Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Bill 69 proposes broad changes to the regulatory framework to better manage the energy supply and demand imbalance in Quebec. Proposals to streamline approval processes are very welcome. It has become clear that premature aggressive electrification is increasing energy costs for Quebecers and efforts to rebalance electricity and natural gas markets are needed. Questerre is advancing an application for carbon capture and storage that will mitigate the emissions from natural gas consumption.”

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 the proposals to streamline approval processes, the impact of premature aggressive electrification on energy costs in Quebec and the need to rebalance electricity and natural gas markets. 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: 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, 2023, 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

snorre31 · juni 7, 2024, 6:33am

Gratulere

https://newsweb.oslobors.no/message/620939

kanina · juni 7, 2024, 7:23am

Det virka som markedet synst det er usikkert. Burde vert i 3 kr allerede

sulzrox · juni 7, 2024, 7:35am

Først mandag det blir meir sikker om vi er med eller ikkje.
Om vi er med på listen så opner vi vel opp noen 100% Mandag.

hgsd300 · juni 7, 2024, 7:52am

07.06.2024 09:07:49

QEC: Fremmer søknad om karbonfangst og -lagring i Quebec

Oslo (Infront TDN Direkt): Questerre Energy Corporation fremmer en søknad for karbonfangst og -lagring i Quebec for å motvirke utslippene fra naturgassforbruk.

Det fremgår av en melding fra selskapet fredag etter at Quebec Ministry of Economy, Innovation and Energy la frem lovforslaget Bill 69 torsdag.

"Bill 69 foreslår brede endringer i det regulatoriske rammeverket for bedre å håndtere ubalansen mellom energiforsyning og etterspørsel i Quebec. Forslagene om å effektivisere godkjenningsprosesser er svært velkomne. Det har blitt klart at for tidlig aggressiv elektrifisering øker energikostnadene for innbyggerne i Quebec, og innsats for å rebalansere elektrisitets- og naturgassmarkedene er nødvendig. Questerre fremmer en søknad om karbonfangst og -lagring som vil minske utslippene fra naturgassforbruk, sier administrerende direktør Michael Binnion i Questerre.

TDN Direkt finans@tdn.no

Infront TDN Direkt, +47 21 95 60 70

hgsd300 · juni 7, 2024, 9:58am

Despite any obligation, term or condition determined under section 18, the Government may, on the joint recommendation of the Minister and the Minister of Sustainable Development, Environment and Parks, authorize, on the conditions it determines, a holder of a revoked licence to close a well where the holder has performed the work provided for in their permanent well closure and site restoration plan in order to comply with that obligation, term or condition and where the holder has sent to the Minister a report signed by an engineer confirming that the work has been performed and setting out or including

(1) the situation preventing the holder from complying with the obligation, term or condition, and the fact that the situation does not pose a risk for human health or safety, the safety of property or the protection of the environment;

(2) the possible corrective measures to correct the situation described in paragraph 1;

(3) an assessment of the technical and economic feasibility of those corrective measures and the risks associated with their implementation; and

(4) an opinion that implementation of the corrective measures cannot reasonably be expected to correct the situation described in paragraph 1, or could worsen it, taking into account, in particular, the assessment referred to in paragraph 3.”

hgsd300 · juni 9, 2024, 4:26am

sulzrox · juni 15, 2024, 2:14pm

Er det denne teknologien til ZEG Power som QEC ønsker å bruke?