Given the high importance of the issues, the Company has been granted a fast track hearing on judicial review in the first quarter of 2019 that will decide on setting the fracking ban regulations aside. Test data from these wells, in conjunction with offset development and studies of the analogous US Utica, supports the prospective commercial development of these resources. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment. The best estimate by GLJ of risked Prospective Resources net to Questerre is 0.94 trillion cubic feet (“Tcf”) (157 million barrels of oil equivalent (“boe”)). Questerre, a Canadian driller, has patiently waited for years to begin drilling on their extensive Utica acreage in the St. Lawrence Lowlands of Quebec–even though last year Quebec all but permanently banned such drilling (see Quebec to Ban Utica Shale Drilling, Most Other Drilling Too). Questerre may post a letter of creditas security for the A&R Liabilities. There is no certainty that it will be commercially viable to produce any portion of the contingent resources or that Questerre will produce any portion of the volumes currently classified as contingent resources. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future. Calgary, Alberta -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE: QEC) reported today that the Government of Quebec has published the consultation documents for its strategic environmental assessment of oil and gas. It is leveraging its expertise gained through early exposure to low permeability reservoirs to … The Company operates non … Secondary targets include the shallower Lorraine silts and shale and the deeper Trenton Black-River carbonate. Michael Binnion, President and Chief Executive Officer of Questerre, commented “With the acquisition closed, we have regained control and operatorship of our giant natural gas discovery in the Lowlands. (403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com. Upon closing of the transaction, both parties will release each other from all claims related to the outstanding litigation. Questerre Energy CEO pitches fracking project in Quebec Open this photo in gallery: A Questerre shale gas exploration well is seen near St. Edouard, Que., in 2010. 1650, 801 Sixth Avenue SWCalgary, AlbertaCanada T2P 3W2tel +1 403 777-1185fax +1 403 777-1578info@questerre.com. The area is prospective for natural gas in several horizons with the primary target being the Utica shale. The updated Quebec Resource Assessment assigned Contingent Resources for approximately 16% of Questerre’s acreage based on the results from several vertical and horizontal wells on the Company’s acreage that have all encountered pay in the Utica as reported by the Company in 2008 to 2010. Alternate Symbol (s): QTEYF. Questerre is an energy technology and innovation company. It holds the largest acreage position in the Utica Shale in the Saint Lawrence Lowlands. Additionally, the Quebec Resource Assessment details the best estimate of risked Contingent Resources net to Questerre is 313 Bcf (52 million boe). This will allow us to follow through on our plans to share profits with local communities. The Company has posted letters of credit as security for the A&R Liabilities. Questerre has submitted a request to the Government of Quebec to consider a science-based research project for clean tech energy production. Calgary, Alberta -- Questerre Energy Corporation ('Questerre' or the 'Company') (TSX,OSE:QEC) reported today that it has received all approvals and has closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company (the 'Agreement') as set out in the Company's press release dated March 7, 2019. Aug 11 (Reuters) - Questerre Energy Corp (Canada)
::QUESTERRE REPORTS SECOND QUARTER 2020 RESULTS.DURING Q2, DAILY PRODUCTION AVERAGED 2,058 BOE/D (2019: 2,035 BOE/D). Given that drilling is likely to begin soon, Questerre recently commissioned an update of their proven reserves in the Quebec Utica. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. President and Chief Executive Officer. This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s plans to engage the Government and other stakeholders on its Clean Tech Energy project, its plans to share profits from this project with local communities, its belief that this will be essential to the social acceptability needed to move forward and its plans to update the resource assessment for the newly acquired acreage. Following almost six years of extensive studies and public consultation, in December 2016, the Government of Quebec passed Bill 106, An Act to implement the 2030 Energy Policy and amend various legislative provisions. The segments of the group are Western Canada; Quebec ; and Corporate and others. The segments of the group are Western Canada; Quebec ; and Corporate and others. Calgary, Alberta — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has received all approvals and has closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company (the “Agreement”) as set out in the Company’s press release dated March 7, 2019. Questerre is an energy technology and innovation company. Questerre Energy is a Canadian oil and gas firm with assets across the prairies, Quebec, Utah and Jordan. Questerre Energy is currently engaged in the acquisition, exploration and development of oil and gas projects. Contingent resources are defined in the COGE Handbook as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. The estimates of prospective resources involve implied assessment, based on certain estimates and assumptions, that the resources described exists in the quantities predicted or estimated, as at a given date, and that the resources can be profitably produced in the future. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The Lowlands are situated in Quebec, south of the St. Lawrence River between Montreal and Quebec City. Both parties have released each other from all claims related to outstanding litigation. “Best Estimate” resources are considered to be the best estimate of the quantity that will actually be recovered. The Quebec Resource Assessment assesses the Utica shale gas potential within the Company’s 735,910 gross acres in the St. Lawrence Lowlands of Quebec. Developed with leading Quebec innovators and leveraging best practices worldwide, this new approach could be used around the world to aid global energy transition. 1650, 801 Sixth Avenue SW Calgary, Alberta Canada T2P 3W2 tel +1 403 777-1185 fax +1 403 777-1578 info@questerre.com Questerre filed a legal brief with the Superior Court of Quebec challenging the validity of the specific Regulations relating to the restrictions. The Canada-based company is engaged in the acquisition, exploration, and development of oil and gas projects. We believe this will be essential to the social acceptability we need to move forward.”, Commenting on the Clean Tech Energy project, he added, “Our goal to produce natural gas with zero emissions, zero freshwater usage and zero toxic chemicals below ground will be among the first of its kind worldwide. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the quantities actually recovered will equal or exceed the best estimate. Other consideration including cash and the security required for the assumption of abandonment and reclamation liabilities (“A&R Liabilities”) is approximately $16.10 million in aggregate. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. The main beneficiary if Questerre Energy Corporation, which owns ~350,000 acres in the Quebec Utica. These amendments include the enactment of the Petroleum Resources Act to govern the future development of petroleum resources in Quebec. For more information, please refer to the Company’s 2017 Annual Information Form (“AIF”) and press release dated March 12, 2018 available on the Company’s website at www.questerre.com and on SEDAR at www.sedar.com. Those factors and assumptions are based upon currently available information available to Questerre. The estimates of contingent resources involve implied assessment, based on certain estimates and assumptions, that the resources described exists in the quantities predicted or estimated, as at a given date, and that the resources can be profitably produced in the future. Download our latestoperating and financialresults. Calgary, Alberta — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has received all approvals and has closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company (the “Agreement”) as set out in the Company’s press release dated March 7, 2019. CALGARY, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the recent launch of the Hydrogen Strategy for Canada by the Federal Government. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Questerre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. We believe we can successfully transition our energy portfolio. Questerre also have operations in Saskatchewan and in the Montney Formation in Alberta. The Company plans to update this assessment for the newly acquired acreage later this year. Pursuant to the Agreement, Questerre has acquired the exploration rights to 753,000 net acres in Quebec, associated wells and equipment, geophysical data and other miscellaneous assets. Energy. Questerre Energy Corporation stock and Oil & Gas E&P market discussion, news, and analysis from Canada's largest community of active investors. CALGARY, Alberta, Jan. 22, 2020 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has received all approvals and has closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company (the “Agreement”) as set out in the Company’s press release … Mémoire – Concernant les projects de réglements relatifs à l’entrée en vigueur de la loi sur les hydrocarbures. All Contacts. Other consideration including cash and contingent payments and the security required for the assumption of abandonment and reclamation liabilities (“A&R Liabilities”) is approximately $11 million in aggregate prior to closing adjustments. For more information, please see the Company’s press releases dated June 4, 2018. The Act will govern the development of hydrocarbons in the province of Quebec. The firm owns assets in Alberta, Saskatchewan, Manitoba and Quebec… The net present value of the risked Contingent Resources, including the development on hold and development unclarified sub categories, discounted at 10% before tax is estimated at $409 million. The last time they did so was in 2010. We believe this can be accomplished today by using new technologies and leveraging Quebec’s hydropower advantage.”. The Government of Quebec enacted the Petroleum Resources Act in the third quarter of 2018 to govern the development of hydrocarbons in the province. The majority of Questerre’s one million gross acres lies in the heart of the fairway between two major geological features — Logan’s Line, a subsurface thrust fault to the east and the Yamaska growth fault to the west. Based on an independent resource assessment prepared by GLJ Petroleum Consultants Ltd. 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