Questerre Energy Corporation (QEC)

sulzrox · oktober 11, 2024, 7:23am

Vi fikk ikkje vite noe om anken, så eg antar først no skal vurdere anken. Det vil jo sei at det tar mange veker og mnd før vi får vite utfalle.

Når ein ser hvor mange som følger QUC på hegnar skulle ein tru noe hadde funet dette ut før. Viser berre at info på forum ofte er misvisende.

Hoven · oktober 16, 2024, 3:46pm

hgsd300 · oktober 16, 2024, 5:10pm

Questerre Energy Corporation har brutt opp gjennom taket i en fallende trendkanal på mellomlang sikt. Dette indikerer i første omgang svakere falltakt, eller innledningen av en mer horisontal utvikling. Aksjen beveger seg i en rektangelformasjon mellom støtte på 1.84 kroner og motstand på 2.76 kroner. Etablert brudd på et av disse nivåene vil signalisere videre retning. Aksjen har brutt ned gjennom støtten ved cirka 2.27 kroner og videre nedgang er dermed signalisert. Volumet har tidligere vært høyt rundt kurstopper og lavt rundt kursbunner. Volumbalansen er også positiv, noe som styrker aksjen. Aksjen anses samlet sett teknisk negativ på mellomlang sikt.

Hoven · oktober 17, 2024, 3:42pm

I vårt dekningsunivers har Questerre, Shamaran og kanskje Eco Atlantic absolutt sett mest oppside, men det er noe annet enn best forhold mellom risiko og forventet avkastning, svarer analytiker Teodor Sveen-Nilsen.
– Når det kun er snakk om oppside, er dette typisk selskapene som også har høy risiko og er relativt små. Questerre kan få utbetalt store beløp i forbindelse med sitt krav i Quebec, mens høyt gearede Shamaran vil gjøre det bra, dersom de får åpnet sin rørledning i Kurdistan. Eco Atlantic driver på sin side med leting i et av verdens «hotteste» felt.

Hoven · oktober 30, 2024, 5:46pm

TekBot · november 13, 2024, 12:00am

Questerre reports third quarter 2024 results

Michael Binnion, President and Chief Executive Officer of Questerre commented, “The challenges for the Quebec energy markets continue to evolve. Bill 69, requiring an integrated electricity and gas management plan, could renew interest in natural gas as a transition fuel in Quebec. During the public consultation process this quarter, we advocated for local natural gas production as an essential part of the energy mix through the Quebec Energy Association. With the technical review by the Quebec Ministry of Economy, Innovation and Energy complete, our application for a carbon storage pilot is advancing through the approval process. Carbon capture could contribute to meeting Quebec’s climate goals with the on-going consumption of natural gas.”

He added, “We also committed to developing our Kakwa North acreage this quarter. A three (1.5 net) well program started in October. We expect them to be completed early next year and on-stream by the second quarter. This follows the three (0.75 net) well program on our Kakwa Central acreage this spring with the wells coming on production late in the third quarter.”
…
Vis børsmeldingen

Highlights
• Expert witness report filed for legal claim in Quebec
• Three (1.5 net) well program approved at Kakwa North and three (0.75 net) wells tied-in at Kakwa Central
• Average daily production of 1,913 boe per day with adjusted funds flow from operations of $3.4 million

Consistent with prior periods, Kakwa continued to account for 80% of corporate production. With three (0.75 net) wells at Kakwa Central brought on production late in the quarter, production increased over the same period last year but declined year to date over the prior year. For the third quarter, daily production averaged 1,913 boe/d (2023: 1,830 boe/d) and for the nine months ended September 30, 2024, it averaged 1,712 boe/d (2023: 1,866 boe/d).

The higher production volumes were offset by the lower commodity prices in the current quarter. For the quarter, petroleum and natural gas sales totaled $9.5 million compared to $10.7 million last year and $27.3 million year to date compared to $32 million in the prior year. This contributed to adjusted funds flow from operations of $3.4 million (2023: $3 million) in the quarter and $10.9 million for the first three quarters of the year (2023: $12.6 million).

The lower revenue also contributed to a net loss of $0.3 million for the quarter (2023: $0.3 million loss). The Company reported a net profit of $0.8 million (2023: $2.3 million) for the nine months ended September 30, 2024. Capital expenditures in the quarter were $3.4 million (2023: $0.9 million) and $13.1 million year to date (2023: $6.6 million).

As at September 30, 2024, effectively no material amounts were drawn on the facility and the Company held unrestricted cash and term deposits of $35.9 million. The Company had a net working capital surplus of $27.6 million (2023: $30.2 million surplus).

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 its views that Bill 69 could renew interest in natural gas as a transition fuel in Quebec, the ability of carbon capture to contribute to meeting Quebec’s climate goals and the timing for production from the new wells at Kakwa North. 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 69 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.sedarplus.ca. 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 September 30, 2024, liquids production including light crude and natural gas liquids accounted for 1,106 bbls/d (2023: 1,050 bbls/d) and natural gas including conventional and shale gas accounted for 4,842 Mcf/d (2023: 4,677 Mcf/d). For the nine-month period ended September 30, 2024, liquids production including light crude and natural gas liquids accounted for 1,006 bbls/d (2023: 1,077 bbls/d) and natural gas including conventional and shale gas accounted for 4,236 Mcf/d (2023: 4,734 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 Sept 30,	Nine months ended Sept 30,
($ thousands) 2024 2023 2024 2023
Net cash from operating activities 4,060 2,382 9,829 11,163
Change in non-cash operating working capital (632) 652 1,027 1,483
Adjusted Funds Flow from Operations 3,428 3,034 10,856 12,646

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

Kilde

TekBot · november 13, 2024, 12:00am

Questerre Energy Release Q3 2024 Report

President’s Message

The challenges for the Quebec energy markets continue to evolve.
…

Vis børsmeldingen

Bill 69, requiring an integrated electricity and gas management plan, could renew interest in natural gas as a transition fuel in Quebec. During the public consultation process this quarter, we advocated for local natural gas production as an essential part of the energy mix through the Quebec Energy Association. With the technical review by the Quebec Ministry of Economy, Innovation and Energy complete, our application for a carbon storage pilot is advancing through the approval process. Carbon capture could contribute to meeting Quebec’s climate goals with the on-going consumption of natural gas.

We also committed to developing our Kakwa North acreage this quarter. A three (1.5 net) well program started in October. We expect them to be completed early next year and on-stream by the second quarter. This follows the three (0.75 net) well program on our Kakwa Central acreage this spring with the wells coming on production late in the third quarter.

Highlights
• Expert witness report filed for legal claim in Quebec
• Three (1.5 net) well program approved at Kakwa North and three (0.75 net) wells tied-in at Kakwa Central
• Average daily production of 1,913 boe per day with adjusted funds flow from operations of $3.4 million

Utica, Quebec

The magnitude of the electricity energy shortage in Quebec and its impact on the economy, including the costs to consumers in the province, was highlighted in recent editorials in one of Canada’s national newspapers.

With the anticipated supply shortfall in 2027, the Montreal Economic Institute noted that the Government of Quebec rejected industrial development projects requiring over 20,000 megawatts of power in the last year. The provincial utility plans to add just under half of this demand or 9,000 megawatts through an investment of over $150 billion in the next decade in hydro and wind power. This represents a three-fold increase in annual investment at a cost of over $17,000 per Quebec resident.

In a separate editorial, Normand Mousseau, a director at the Trottier Energy Institute in Quebec, noted that despite these planned additions, a failure to renew the Churchill Falls supply agreement that provides nearly 15% of the province’s electricity supply could leave them in a deficit position again. He added that although the province has capped increases in residential rates to 3%, it is ‘untenable and can only lead to disturbances when rates will have to catch up with reality.’ He concludes, ‘that will require a real public discussion about the energy transition.’ Concurrently, to meet their GHG targets by 2035, a leading ENGO has called for energy sobriety to reduce demand, noting that Quebecers are among the highest per capita consumers of energy globally.

In our brief submitted to the parliamentary committee on Bill 69, we noted the scale of our natural gas discovery, its potential role in addressing this energy deficit and supplying the energy needed for new industries. Based on the independent assessment of our resources, we estimate the natural gas could generate electricity equivalent to several decades of output from Churchill Falls, the second largest hydroelectric dam in Canada.

With very competitive supply costs estimated by the Canadian Energy Research Institute in a 2015 report, our natural gas could be brought on production much sooner than the planned renewable projects including hydro and wind farms. In the short-term, this local natural gas could immediately replace imported natural gas that supplies the 550 MW Becancour co-gen power plant that provides peaking power during the winter.

Another benefit would include a contribution to reducing emissions. As we noted previously, a 2010 estimate by the local gas distribution company, GazMetro, now known as Energir, suggested that, on a business-as-usual basis, replacing imported gas with local gas would reduce emissions by 440,000 tonnes of carbon dioxide equivalent annually. Based on this estimate, the blockade of local natural gas for over a decade could have materially increased Canadian emissions.

Though we are hopeful the Government of Quebec sees these benefits and considers local production as part of the energy mix, protecting our legal rights remains a priority. As part of this process, we filed our independent report on our potential economic losses in October. The report estimates the economic losses to us if our licenses are successfully revoked under three different scenarios with the estimates ranging between $700 million and $4,800 million. Please refer to our press release of October 3, 2024. A copy of the report is available on the disclosure system in Norway and on SEDAR+ in Canada.

Red Leaf Resources Inc.

Our investee, Red Leaf, continues to advance its proprietary technology to produce oil from shale and its assets in the Uintah Basin in Utah.

In addition to engineering for a small demonstration project in the Kingdom of Jordan, they are assessing the possibility for a similar project in the US with a partner. Commissioning of its lab-scale pilot producing two barrels per day was completed and a first test is scheduled before year-end. The growing demand for high performance data centres and challenges accessing sufficient power is also creating opportunities for their land in the basin. They are in the early stages of validating access on these lands to all essential infrastructure, including low-cost power at scale, for a possible data centre.

Operating & Financial

The new wells at Kakwa contributed to higher production volumes in the quarter over the last year. With no new wells in the first two quarters, year to date production declined and averaged 1,712 boe per day compared to 1,866 boe per day last year.

Lower commodity prices offset in part by lower operating expenses contributed to adjusted funds flow from operations of $3.4 million in the quarter (2023: $3 million) and $10.9 million (2023: $12.6 million) year to date. After deducting capital expenditures of $13.1 million year to date, the Company’s working capital surplus was $27.6 million at the end of the quarter.

Outlook

The new wells at Kakwa North are expected to come on production in the second quarter next year, contributing to a growth in volumes.

Our legal claim for the illegal revocation of our licenses is one avenue to realizing the value from our Quebec Utica discovery. Though the third-party estimates are significant relative to our current market cap, in our view, they are substantially lower than the economic potential of our discovery if we are allowed to develop it.

We are still pursuing a business and political solution. Requiring no government funding, local natural gas is a cheaper, quicker and scalable solution to the looming energy shortage in the province. Combined with our carbon storage pilot it could help meet emissions reduction goals. In the absence of consuming the gas locally, with access to tidewater, they could export this gas as demand for LNG by both Europe and Asia grows.

Michael Binnion
President and Chief Executive Officer

Kilde

Hoven · desember 4, 2024, 1:47pm

Trump tariff threat delays Quebec energy bill | Montreal Gazette

Trump-trusselen forsinker energiregningen i Quebec
“Ankomsten av den nye administrasjonen i USA har endret situasjonen litt,” sier energiminister Christine Fréchette.

Forfatter av artikkelen:La Presse Canadienne
La Presse Canadienne
Thomas Laberge
Publisert 2. desember 2024 • Sist oppdatert for 16 timer siden • 2 minutters lest
5 Comments

Christine Frechétte gestikulerer mens hun snakker i en mikrofon
Quebec økonomi- og energiminister Christine Fréchette. Foto av Dave Sidaway / Montreal Gazette-filer
Artikkelinnhold
QUEBEC – Quebecs energireformforslag har blitt forsinket på grunn av USAs påtroppende president Donald Trumps trussel om toll på Canada , sa provinsens energiminister mandag.

Artikkelinnhold
Artikkelinnhold
Lovforslag 69, som tar sikte på å gi Quebec frie tøyler til å doble sin elektrisitetsproduksjon, har ikke blitt studert under den nåværende parlamentariske sesjonen og er ikke planlagt for den siste arbeidsuken.

“Ankomsten av den nye administrasjonen i USA har endret situasjonen litt,” sa økonomi- og energiminister Christine Fréchette til journalister i Montreal. “Hvis det er tariffer som blir pålagt, vil dette endre karakteren av konkurranseevnen til bedrifter i Quebec, og derfor ønsker vi å se hvordan ting vil stable seg opp før vi går videre, fordi det er spørsmålet om prising i regningen.”

Annonse 2
Historien fortsetter nedenfor

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Folk deltar i en protest utenfor Santa Cabrini-sykehuset i Montreal lørdag 27. juli 2024 for å fordømme nye Bill 96-språkdirektiver for sykehus og langtidspleiehjem.
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Et REM-tog kjører langs et forhøyet spor.
Montreal unngår spesiell værmelding som dekker en del av det sørlige Quebec
Folk i vinterklær krysser en travel handelsgate.
Artikkelinnhold
Fréchette sa at “noen få elementer” kan endres i regningen. “Men vi må se i hvilken grad det mulige priselementet på Quebec-eksport vil endre situasjonen, eller ikke.”

Trumps trussel om å innføre 25 prosent toll på alle kanadiske produkter har forårsaket sjokkbølger på denne siden av grensen. Forrige uke sa premier François Legault at tariffene også vil påvirke Quebec-elektrisitet eksportert til USA.

Lovforslag 69 tar sikte på å endre reguleringen av energisektoren for å svare på økningen i etterspørselen som kreves for å avkarbonisere økonomien. Hydro-Québec planlegger å investere opptil 185 milliarder dollar innen 2035 for å doble produksjonen.

Det endrer også hvordan strømprisene skal settes. Til tross for økningen i produksjonen som vil være nødvendig, har Legault-regjeringen lovet at boligrenteøkninger skal begrenses til tre prosent . Det blir i stedet opp til bedriftene å finansiere energiomstillingen.

Lovforslaget ble fremmet av tidligere økonomi- og energiminister Pierre Fitzgibbon i juni . Etter hans sjokkavgang i september , måtte Fréchette erstatte sin kollega i siste liten for å lede de spesielle konsultasjonene om lovforslaget. Den detaljerte studien er fortsatt ikke utført.

Før han trakk seg, hadde Fitzgibbon snakket om “betydelige økninger” i vannprisene innen fem eller ti år.

Quebec Liberal Party fordømte lovforslagets forsinkelse. "Vi har vært klare i flere måneder, men det er klart at regjeringen er viklet inn i spørsmål knyttet til Fitzgibbons ‘arv’. Vi tapte et helt år fremover i energifremtiden på grunn av CAQ-utsettelse, sa det liberale MNA Monsef Derraji i en skriftlig uttalelse.

«At regjeringen ønsker å revidere lovforslaget i lys av den siste utviklingen i USA er kanskje ikke en dårlig idé. Men i virkeligheten er det en bandasje på et gapende sår. Denne regningen må trekkes tilbake, sa PQ MNA Pascal Paradis i et intervju.

nucleus · desember 27, 2024, 11:34am

Questerra energy har flere gode triggere angående Quebec og Jordan som de to største. I mellomtiden øker de jo produksjon på de nye oljebrønner som borres i de andre stater. Mens vi venter på at visjoner, håp og drømmer ska realiseres. Velger hvertfall selv og påfyll. Hvis ting skjer, kan det jo gå fort.

nucleus · januar 2, 2025, 10:24am

Godt nyttår!
Leser fra presentasjon fra QEC 11 september. Der blir det nevnt produksjon økning fra 2000 fat/ dag til 5000 fat/ dag i år 2025. Iforhold til brønner som er under borring. Bør trigge en kursøkning fra dagens drøyt 2kr/ aksje. Men selvfølgelig venter vi på "super trigger 'n " på posetivt vedtak fra dommerpanelet i Quebec. Eller produksjon i Jordan…

Hoven · januar 17, 2025, 2:14pm

Passer som hånd i hanske dersom dette blir en realitet:

Bernstein Research Predicts NatGas Price to Average $5 in 2025/26

January 16, 2025

Hart Energy is reporting some startling statements from Bernstein Research in a new report. One insight (statement) offered by Bernstein is that U.S. natural gas will average $5/Mcf in 2025 and 2026, and that’s “conservative, in our view.” Bernstein predicts “a coming U.S. gas super-cycle.” The Bernstein team expects U.S. gas demand will grow from some 120 Bcf/d today to 150 Bcf/d by 2030 as new AI data centers and LNG export trains come online.

TekBot · januar 29, 2025, 12:01am

Questerre reports option exercise and annual grant of stock options to directors and employees

Questerre Energy Corporation (“Questerre” or the “Company”) reported that members of the Board and Management exercised for cash a total of 5,975,000 stock options with an exercise price of C$0.20 per common share expiring on February 3, 2025. The exercise was made concurrent with the payment of C$0.18 million in aggregate as detailed below by the Company to these individuals. No common shares were issued in connection with the exercise of these options.
	        Options Exercised 	 Payment (C$)
…
Vis børsmeldingen

Directors
Bjorn Tonnessen Chairman 250,000 7,500
Dennis Sykora Director 150,000 4,500
Hans Holden Director 150,000 4,500

Management
Michael Binnion CEO 1,500,000 45,000
John Brodylo VP Exploration 750,000 22,500
Peter Coldham VP Engineering 750,000 22,500
Jason D’Silva CFO 1,000,000 30,000
Dana Shepherdson Controller 500,000 15,000
Rick Tityk VP Land 750,000 22,500

Staff 175,000 5,250

Total 5,975,000 179,250

Subsequently, at its annually scheduled Board meeting, which included an evaluation of overall compensation, the Company has granted directors, officers and employees a total of 6,675,000 options to acquire Common Shares at a price of C$0.23 per Common Share on January 27, 2025. The exercise price is determined as the closing price on TSX the day prior to the grant. The options will expire on January 26, 2030.
                   Current	Granted	         Total
Directors
Bjorn Inge Tonnessen 1,400,000 250,000 1,650,000
Mireille Fontaine 1,130,000 150,000 1,280,000
Dennis Sykora 880,000 150,000 1,030,000
Hans Jacob Holden 880,000 150,000 1,030,000
Jauvonne Kitto 250,000 150,000 400,000

Management
Michael Binnion 7,020,000 1,500,000 8,520,000
John Brodylo 3,510,000 750,000 4,260,000
Peter Coldham 3,510,000 750,000 4,260,000
Jason D’Silva 5,060,000 1,000,000 6,060,000
Dana Shepherdson 3,310,000 500,000 3,810,000
Rick Tityk 3,510,000 750,000 4,260,000

Staff 1,860,000 575,000 2,435,000

Total 32,320,000 6,675,000 38,995,000

We seek Safe Harbour.

Kilde

Kronn · januar 30, 2025, 11:08am

Skjer her da ?
slengte meg inn på 2 for så å sjekke men finner intet, noke eg har gått glipp av ?

strongbuy · januar 30, 2025, 11:13am

ingen news tror jeg

hgsd300 · januar 30, 2025, 3:46pm

Volumet er 2 mill over normalen i Oslo, ser det er omsatt 90k i Toronto også som er lang over normalen.

Ankesaken ?

hgsd300 · januar 31, 2025, 7:27am

AI :

Er det planlagt en høring vedrørende erstatning til Questerre Energy i Québec ?

Ja, det er planlagt en høring i Québec Superior Court den 25. mars 2025, hvor Questerre Energy Corporation søker erstatning for verdien av sine olje- og gasslisenser i Québec. Denne høringen er en del av selskapets pågående juridiske prosess mot myndighetene i Québec angående Bill 21, en lov som avslutter leting etter og produksjon av petroleum i provinsen.

I januar 2024 fikk Questerre medhold fra Québec Superior Court om midlertidig opphevelse av deler av Bill 21, noe som tillater selskapet å fortsette sin virksomhet i Québec mens rettsprosessen pågår.

I oktober 2024 leverte Questerre en uavhengig ekspertvurdering til retten, som estimerte selskapets økonomiske tap til å være mellom 700 millioner og 4,8 milliarder kanadiske dollar, avhengig av ulike scenarier.

Selskapet håper fortsatt på en politisk og forretningsmessig løsning som både reduserer klimagassutslipp og forbedrer energisikkerheten.

hgsd300 · februar 4, 2025, 5:42am

TekBot · februar 6, 2025, 12:00am

Financial calendar

TekBot · februar 6, 2025, 12:00am

Finansiell kalender

hgsd300 · februar 6, 2025, 9:06am