Questerre Energy Corporation (QEC)

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Intet negativt om vedkommende på XI, vet han har sittet lenge på en god del aksjer. Men mener at vi ikke skal ta dette for god fisk før det eventuelt meldes fra QEC. Rart at Binnion svarer såpass konkret, mener han ikke burde kommentert så lenge det kun er rykter.

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Legault would likely now support major LNG project in Quebec, says Fitzgibbon...

[Ubruklig]

Investornytt Intervju av MB til uken. Dette er uken kursen fort går 34% og runder 3kr. Noe som i seg selv vil eskalere
Deilige dager i qec

[Ubruklig]

Quebec har bestilt en av verdens største diesel drevne isbryter, tenker de vil ha isfrie havner for utshipping av LNG… noe er i gang👌

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Dette innlegget er hentet fra FA! Nå skjer det enorme ting og oppsiden er mer enn jeg klarer å regne

[Hoven]

The emerging eastern Canada-western Canada alliance fuelled by the Trump trade war

But maybe there is a route that would be more acceptable to Quebecers. Maybe if we go further north, there are significant gas resources that Quebec can develop themselves for their own people to get a financial benefit from it. Maybe we talk about building another refinery in Quebec so that they can get those value-added jobs. I think if we can talk in terms of Quebec interests, then I think we can get to a solution.”

[Kronn]

Qec på tur, gikk den gjennom motstand nå da, eg hadde håpet på en liten snurr ned mot 2 blank igjen.

[Hoven]

If you believe the flip flop then both major parties are now pro oil and gas - this is great for the industry @markcarney is running against his own record like Kamala Harris tried to do.

It’s going to be interesting #Canadaelection #canadianpolitics pic.twitter.com/8Lh8UzzdFn

— M.R. Binnion (@mrbinnion) March 24, 2025

Twitter

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M.R. Binnion

[Hoven]

Staples: Astonishing new poll presents major threat to Carney Liberals | Edmonton Journal

David Staples: Astonishing new poll presents a major threat to Carney Liberals
When it comes to oil and gas, 89 per cent now want more refineries and LNG terminals, 82 per cent say Canada should fast-track permits, and 72 per cent favour axing the carbon tax.

Author of the article:David Staples • Edmonton Journal
Published Mar 25, 2025 • Last updated 4 hours ago • 4 minute read

Canadians are fired up to engage in economic warfare against U.S. President Donald Trump’s tariffs. The attack on the US economy should include building numerous new Canadian oil and gas pipelines, an astonishing super majority of Canadians say in a new poll.

Canadians are all-in from coast to coast, now prepared to do all it takes to win an economic fight with the United States. I never thought I’d see the day but this includes the highest level of support in generations for a rapid expansion of Canada’s oil and gas industry.

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Til info for nye aksjonærer legges rapporter fra QEC ut etter Toronto børsen stenger 2100 norsk tid. Årsaken er at aksjen er hovednotert i Canada, dermed også litt stress med oppdaterte aksjonærlister som jeg synes er veldig greit og ha kontroll på

[TekBot]

Questerre 2024 Annual Information Form

Questerre Energy has release its audited AIF for 2024.
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Kilde

[TekBot]

Questerre 2024 Annual Report

President’s Message

The world took a pivotal turn on January 20, 2025, with a new administration in the United States.
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The energy shortage in Quebec and, more recently, the prospect of tariffs on energy to the United States and their broader impacts revitalizes interest in our discovery. To us, they highlight the importance of maintaining a pragmatic and flexible approach while protecting our shareholders’ legal rights.

We participated in drilling programs at both Kakwa joint ventures last year as part of our strategy to build our assets outside Quebec. The Kakwa North wells were tested in March. Over a one week period, the wells produced over 2,000 boe per day net to Questerre(1). While encouraging, these rates are not necessarily indicative of long-term performance or ultimate recovery. The wells should be tied-in and on production by the end of April. We are being more selective in our participation in future wells, particularly at Kakwa Central, to ensure we maximize returns given current commodity prices.

On the technical front, Red Leaf made meaningful progress. They completed a pilot-scale lab test producing over one barrel of oil and proving the rock mechanics inside the capsule. The engineering for a small-scale project in Jordan was also finalized. However, the costs were higher than expected and Red Leaf requires additional funding to conclude an agreement to advance this opportunity. Going forward, we recently appointed a special committee of the Red Leaf board to negotiate this agreement directly with the consortium in Jordan.

Highlights

• Submitted expert witness report on economic losses for legal claim in Quebec
• Participated in six (2.25 net) wells at Kakwa including three (0.75 net) wells on production and three (1.50 net) wells awaiting completions at year-end
• Average daily production of 1,756 boe per day, net cash from operating activities of $13.7 million and adjusted funds flow from operations of $14.6 million
• Total proved and probable reserves declined by 10% to 23.8 MMboe with a before tax NPV-10% of $195.3 million unchanged from last year

Quebec

The 2023 loss of the Volkswagen battery plant by Quebec in part due to insufficient power supply was, perhaps, an early warning of the impending energy shortage in the province(2).
In response, the Government introduced Bill 69 last year. Among other changes to the regulatory regime, it included the requirement for integrated resource management plans for electricity and natural gas every six years. The provincial utility also announced plans to invest a minimum of $100 billion over the next decade in hydro and wind power to increase capacity and meet future demand(3).

While these initiatives support their 2050 goal of carbon neutrality, concerns about the costs to industrial and residential consumers are growing. The Alliance for Quebec’s Energy Competitiveness estimates under Bill 69 rates for large industrial users could increase by 60% over ten years(4). Normand Mousseau, director of the Trottier Energy Institute noted ‘the Government has capped residential rate increases to 3% per annum. While that can work for a few years, it is untenable and can only lead to disturbances when rates will have to catch up with reality(5).

These concerns have been exacerbated by the impact of tariffs on competitiveness and have led to the delay in implementing Bill 69 according to Quebec’s energy minister(6). The Bill is still under consideration by Quebec’s National Assembly. Though we expect final passage of the Bill by the end of spring, new amendments and the political debate could delay its adoption.

We remain committed to a political and business solution because local gas production is the simplest and most proximal solution to Quebec’s energy and environmental goals. It can help with energy affordability, security, and reliability. One example of the benefit of local gas is supplying the 550MW natural gas fired power plant at Becancour that currently provides peaking power during the winter. We estimate that a total of six wells per year over eight years could supply the natural gas for this power plant for ten years.

Perhaps more pressing is the threatened trade war with the United States. Local gas could replace imports from the U.S., which currently supplies nearly half of Quebec’s natural gas(7).

We are equally committed to protecting our shareholders’ rights and those of impacted stakeholders. Our claim against the Government for the attempted revocation of our licenses without just compensation is proceeding on the Court schedule. Questioning of the Government’s witnesses should commence this summer. We anticipate a trial date could be set for next year.

Operating and Financial

Our production for the year averaged 1,756 boe per day, a 5% decrease from last year. These volumes include the three (0.75 net) wells at Kakwa Central but exclude the three (1.5 net) wells at Kakwa North that were completed during the first quarter of 2025.

These slightly lower production volumes along with slightly lower realized prices, offset by lower royalty and operating expenses contributed to cash flow from operating activities of $13.7 million and adjusted funds flow from operations of $14.6 million compared to $16.3 million and $15.9 million respectively last year. Although we are advancing a pilot project with Red Leaf, we impaired the carrying value of our Jordan assets as our exclusive rights are set to expire this May if we do not have a new agreement before then. We are optimistic these rights could be extended if the pilot project proceeds.

We financed our capital expenditures of $20.6 million through a combination of our net cash from operating activities and cash on hand. At year-end, we held $31.8 million in cash and cash equivalents and an unutilized credit facility of $16 million. Our committed capital expenditures for 2025 are estimated at $14.4 million and largely reflect the completion and tie-in costs for the Kakwa North wells. We intend to fund these costs through our existing resources.

Outlook

Our plans for projects to lower emissions including our carbon storage pilot in Quebec and, more broadly, our hub concept remain contingent on government funding. We recognize that these, and the timeline for net-zero targets globally may be impacted by the recent changes enacted by the U.S. Government. These include suspending funding under the Inflation Reduction Act and their withdrawal from the Paris climate agreement.

As energy security and independence return as a priority, we hope the Government of Quebec recognizes the role our discovery can play. As Canada seeks to diversify its energy markets, our discovery can also provide the baseload supply of natural gas for possible LNG exports from Quebec. In the interim, we are following the legal process for our claim.

Michael Binnion
President and Chief Executive Officer

1. Consisting of 4,970 MMcf/d of natural gas and 1,298 bbls/d of condensate and estimated natural gas liquids.
2. Québec a dû renoncer à Volkswagen par manque d’électricité, explique Fitzgibbon | Radio-Canada
3. https://www.hydroquebec.com/data/a-propos/pdf/action-plan-2035.pdf
4. Industry group demands Quebec reverse course on planned electricity rate hike - The Globe and Mail
5. Opinion: Hydro-Québec’s ambitious plans will come at great cost to consumers and province - The Globe and Mail
6. https://www.montrealgazette.com/news/provincial-news/article567140.html
7. ‘Big vulnerability’: How Ontario and Quebec became reliant on U.S. oil and gas

Kilde

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Sammendrag av Questerre Energy Corporations årsrapport for 2024:

Questerre Energy Corporation rapporterer om viktige hendelser og utviklinger i 2024. Selskapet opplevde økt interesse for sine energiprosjekter i Quebec på grunn av energimangel og potensielle tollavgifter på energieksport til USA. Questerre deltok i boreprogrammer i Kakwa, hvor testbrønner i nord produserte over 2 000 fat oljeekvivalenter per dag. Produksjonen for året lå i snitt på 1 756 fat oljeekvivalenter per dag, med en kontantstrøm fra drift på 13,7 millioner dollar.

Selskapet fortsetter sin juridiske kamp mot Quebecs regjering for å beskytte aksjonærenes rettigheter etter at myndighetene forsøkte å tilbakekalle lisenser uten kompensasjon. Rettsprosessen går videre, og en rettssak kan bli satt til neste år.

Questerre er også involvert i karbonlagringsprosjekter i Quebec og jobber med et pilotprosjekt i Jordan via Red Leaf. Imidlertid kreves ytterligere finansiering for å realisere dette prosjektet.

Selskapet ser potensial for at Quebec kan bruke lokal naturgass for å sikre energiforsyning og redusere avhengigheten av USA, spesielt i lys av en mulig handelskonflikt. Questerre planlegger kapitalinvesteringer på 14,4 millioner dollar i 2025, hovedsakelig for å fullføre og koble til brønner i Kakwa North.

Selskapet avventer videre utvikling i Quebecs energilovgivning, inkludert Bill 69, og håper på en politisk og forretningsmessig løsning for sine energiprosjekter i provinsen.

[Hoven]

Questerre: Handelskrigen kan styrke gassprosjekt

06:44

Camilla Knudsen

DEL

Det kanadiske oljeselskapet Questerre påpeker at trusselen om handelskrig med USA kan gi ny giv for selskapets omstridte gassprosjekt i Quebec, ifølge årsrapporten.

Selskapet viser til at den nye administrasjonen i USA fra januar 2025 har endret energipolitikken, og at utsiktene til amerikanske tariffer på energi kan revitalisere interessen for Questerres gassfunn i Quebec.

– Kanskje mer presserende er den truende handelskrigen med USA. Lokal gass kunne erstatte import fra USA, som for tiden leverer nesten halvparten av Quebecs naturgass, skriver selskapet.

Questerre fortsetter samtidig sin juridiske kamp mot Quebec-regjeringen etter at myndighetene forsøkte å tilbakekalle selskapets lisenser.

Questerre forventer at avhør av myndighetenes vitner vil starte til sommeren, og at en rettssak kan bli berammet til neste år.

[TekBot]

Unaudited XBRL 2024 Annual Report

This is the unaudited Xbrl document for the 2024 Annual Report.
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Kilde

[Andor]

Dette kan vel sette fyr i QEC.

Canada Plots Energy Escape Route from Trump’s America | OilPrice.com

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Gjelder ikke spesifikt Quebec, men likevel.

In Alberta, Carney follows Poilievre in pledging to speed up resource projects

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https://www.fraserinstitute.org/commentary/other-provinces-should-follow-nova-scotias-lead-hydraulic-fracturing

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2024 AUDITED ESEF FINANCIAL REPORT

For year end 2024 under the Norwegian Securities Trading Act we have attached the Independent Practitioner’s Reasonable Assurance Report Relating to the European Single Electronic Format Requirements (“ESEF Regulation”).
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Kilde

[TekBot]

Annual General and Special Meeting of Shareholders on June 18, 2025 - Notice, Proxy and Management Information Circular

NOTICE IS HEREBY GIVEN THAT an Annual General and Special Meeting (the “Meeting”) of the shareholders of Questerre Energy Corporation (the “Corporation”) will be held in the Bennett Room of the Ranchmen’s Club, 710 – 13th Avenue SW, Calgary, Alberta, on June 18, 2025, at 3:00 P.M. (Calgary time) for the following purposes:

1. to receive the audited financial statements of the Corporation for the year ended December 31, 2024 and the report of the auditors thereon;
2. to fix the number of directors to be elected at the Meeting at six;
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3. to elect the directors of the Corporation for the ensuing year;
4. to appoint Ernst & Young LLP, Chartered Professional Accountants, as the auditors of the Corporation for the ensuing year and to authorize the board of directors to fix their remuneration;
5. to consider and, if thought fit, pass an ordinary resolution approving the shareholder rights plan of the Corporation as set forth in the accompanying Management Information Circular; and
6. to transact such other business as may properly come before the Meeting or any adjournment or adjournments thereof.

The details of all matters proposed to be put before shareholders at the Meeting are set forth in the Management Information Circular accompanying this Notice of Meeting. At the Meeting, shareholders will be asked to approve each of the foregoing items.

Only shareholders of record as of April 30, 2025, the record date, are entitled to receive notice of the Meeting.
DATED at Calgary, Alberta, this 8th day of May 2025.

BY ORDER OF THE BOARD OF DIRECTORS
(signed) “Michael R. Binnion”
President and Chief Executive Officer

IMPORTANT

A shareholder may attend the Meeting in person or may be represented thereat by proxy. It is desirable that as many common shares as possible are represented at the Meeting. If you would like your common shares represented, please complete the enclosed Instrument of Proxy and return it as soon as possible in the envelope provided for that purpose. In accordance with the by-laws of the Corporation, all proxies, to be valid, must be deposited with the Corporation’s transfer agent, Global Companies Registrars Section, DNB Bank ASA, PO Box 1600 Sentrum, 0021 Oslo, Norway, EMAIL: vote@dnb.no no later than Friday, June 6, 2025 1200 CET.

Kilde

[TekBot]

Questerre files Q1 2025 Report

President’s Message

Three wells at Kakwa North were completed this quarter. Including flush volumes, our daily production has averaged over 3,500 boe per day since the tie-in in early April(1). We plan to participate in a follow-up three (1.5 net) well program that could begin this fall.
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Securing energy supplies and diversifying markets is a priority in Canada following the seismic shift in US trade policy. This is especially true in Quebec where imports account for nearly half their total energy demand(2). There is a growing consensus in the province that energy infrastructure, including pipelines and LNG export facilities, should be revisited. Our discovery could provide a secure supply of natural gas and help solve their existing electrical energy shortage while reducing Canadian and global emissions.

We are following the legal process to protect our shareholders’ rights. At a recent hearing, the Justice approved our request to interview several key Government representatives including current and former ministers. The Attorney General is requesting leave to appeal this decision.

In January, Red Leaf completed a larger-scale lab test of its process, producing just over one barrel of oil per day. This technical validation will revise the design and goals for the small-scale commercial project. As a result, the recently appointed special committee of the Red Leaf Board has recommended discontinuing the letter of intent with a potential partner in Jordan to allow for an update of the project design.

Highlights

• Kakwa North wells completed in the quarter and on production in early April bringing production to
over 3,500 boe per day
• Red Leaf completes larger-scale pilot demonstration of technology
• Average daily production of 1,729 boe per day and net cash flow from operating activities of $3.4 million
and adjusted funds flow from operations of $3.5 million

Quebec

In response to the tariffs put forward by the US administration, the Federal government and provinces agreed on the importance of a national trade and energy corridor(3). At a meeting of provincial premiers and the Prime Minister in March, when asked specifically about oil and gas pipelines, the Premier of Quebec noted ‘We’re open to these kind of projects’ though social acceptability is still required(4). More recently, leadership candidates for the Quebec Liberal party also noted their openness to oil and gas projects to boost Canada’s energy independence(5).

While local production was not yet mentioned, the Government of Quebec is now looking to natural gas to alleviate the near-term electricity shortage. The provincial utility is assessing the conversion of an existing combined cycle natural gas power plant to provide power during peak demand periods. This plant requires 150 MMcf/d of natural gas or nearly one quarter of current winter consumption in Quebec.

During the winter, demand for power generally peaks with demand for natural gas. With limited pipeline capacity, imports required for this plant would increase the pressure on a system that already often curtails supply for customers on interruptible service. In discussions with the plant operator, we have highlighted that our local gas, less than ten kilometres away from their facility, would eliminate the transportation bottleneck, be more reliable, less expensive and reduce overall global emissions.

The legal process in Quebec has been slow but steady. The Attorney General is preparing their expert witness report to be produced this fall. Subject to the possible leave to appeal, our preliminary questioning of key Government representatives has been ordered by the Court and is to take place this September and October. To this end, we expect the collaboration of the Attorney General to respond to our pre-examination requests during the summer.

Operating & Financial

Production for the quarter averaged over 1,700 boe per day, about 10% lower than the prior quarter and up slightly from the same period last year. Higher oil and liquids prices contributed to cash flow from operations of $3.4 million and adjusted funds flow from operations of $3.5 million for the first quarter compared to $2.6 million and $3 million respectively last year.

Our capital expenditures for the quarter totalled nearly $18 million, mainly representing the remaining drilling and completion costs for our new Kakwa North wells. This was funded by our existing working capital. We ended the quarter with a surplus of $9.2 million and our credit facility remaining undrawn.

Outlook

We look forward to the next drilling program at Kakwa North, assuming the wells continue to meet expectations and oil prices do not deteriorate further. Sustaining existing production volumes will require additional drilling given the high initial declines from these wells.
Although Bill 21 was introduced nearly three years ago we remain hopeful for a business and political solution. Our goal for this year is to improve energy literacy in Quebec and how our project can meet their energy security needs. We are also firmly following the timelines for our legal claim with the goal of establishing a trial date for the main case next year.

Michael Binnion
President and Chief Executive Officer

1. Consisting of 8.4 MMcf/d of natural gas and 2,129 bbls/d of condensate and estimated natural gas liquids
2. https://www.canadianenergycentre.ca/big-vulnerability-how-ontario-and-quebec-became-reliant-on-u-s-oil-and-gas/
3. Feds, provinces agree to create national trade and energy corridor | Telegraph-Journal
4. Quebec Premier says opinion is shifting in province on oil and gas pipelines - The Globe and Mail
5. Quebec Liberal leadership hopefuls say they’re open to fossil-fuel projects | BOE Report

Kilde