Cookies are used to offer you a better browsing experience and to analyze our traffic. For more information, please see the Company’s press releases dated June 4, 2018. The area is prospective for natural gas in several horizons with the primary target being the Utica shale. Developed with leading Quebec innovators and leveraging best practices worldwide, this new approach could be used around the world to aid global energy transition. The Government of Quebec enacted the Petroleum Resources Act in the third quarter of 2018 to govern the development of hydrocarbons in the province. It holds the largest acreage position in the Utica Shale in the Saint Lawrence Lowlands. 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. 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. It is leveraging its expertise gained through early exposure to low permeability reservoirs to … The Act will govern the development of hydrocarbons in the province of Quebec. 1650, 801 Sixth Avenue SWCalgary, AlbertaCanada T2P 3W2tel +1 403 777-1185fax +1 403 777-1578info@questerre.com. 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 … 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. The segments of the group are Western Canada; Quebec ; and Corporate and others. Based on an independent resource assessment prepared by GLJ Petroleum Consultants Ltd. (“GLJ”) as of December 31, 2017 for the majority of this acreage where the Company holds a working interest, the best estimate of unrisked gross contingent and prospective resources was 3.9 Tcf and 21.3 Tcf respectively. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Pursuant to the LOI, Questerre will acquire the exploration rights to 753,000 net acres in the Lowlands,associated wells and equipment, geological and geophysical data and other miscellaneous assets. Upon closing of the transaction, both parties will release each other from all claims related to the outstanding litigation. 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. The firm owns assets in Alberta, Saskatchewan, Manitoba and Quebec… It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. 1650, 801 Sixth Avenue SW Calgary, Alberta Canada T2P 3W2 tel +1 403 777-1185 fax +1 403 777-1578 info@questerre.com 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. Questerre may post a letter of creditas security for the A&R Liabilities. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment. Of that, Questerre is considering (for now) drilling on 36,000 acres. Prospective resources are defined in the COGE Handbook as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from unknown accumulations by application of future development projects. Questerre Energy Corporation is an international energy exploration company headquartered in Calgary, Canada, and listed on the Toronto Stock Exchange and the Oslo Stock Exchange. Pursuant to the Agreement, Questerre will acquire the exploration rights to 753,000 net acres in Quebec, associated wells and equipment, geological and geophysical data and other miscellaneous assets. In the fall of 2010, the pilot program was suspended while the provincial government initiated an environmental assessment of shale gas development in the province. The Quebec Resource Assessment was prepared in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators (“NI 51-101”) and the Canadian Oil and Gas Evaluation Handbook Volume I (“COGE Handbook”). Questerre Energy is a Canadian oil and gas firm with assets across the prairies, Quebec, Utah and Jordan. These amendments include the enactment of the Petroleum Resources Act to govern the future development of petroleum resources in Quebec. Subject to the conditions precedent, Questerre anticipates entering into a purchase and sale agreement in the fourth quarter and closing the acquisition early in 2019. The brief also requested a stay and ultimately a judicial hearing to have them set aside.The Company’s motion was made on the basis that the specific Regulations are ultra vires, or beyond the legal power and authority granted to the government by the Petroleum Resources Act, contrary to the independent scientific studies, and moreover they do not meet the consultation requirements detailed in Quebec legislation with respect to the enactment of regulations. Questerre Energy Corp serves the oil and gas sector. 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. The enactment of the Regulations also satisfies one of the prerequisites for the Company to close its previously announced Letter of Intent with a senior exploration and production company (the “LOI”) to consolidate its assets in Quebec and regain operatorship. 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. It operates non-conventional projects, such as tight oil, oil shale, shale oil and shale gas. 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. Post-closing, Questerre holds the rights to approximately one million net acres covering a well-established gas resource. Mémoire – Concernant les projects de réglements relatifs à l’entrée en vigueur de la loi sur les hydrocarbures. 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. There is no certainty that any portion of the prospective resources will be discovered. Although Questerre believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. 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. GLJ prepared an independent resource assessment of the Company’s 735,910 gross (190,800 net) acres in the St. Lawrence Lowlands Quebec that have potential for the Upper Utica Shale effective December 31, 2017 in a report dated March 5, 2018 (the “GLJ Resource Assessment”). Those factors and assumptions are based upon currently available information available to Questerre. Questerre Energy Corporation stock and Oil & Gas E&P market discussion, news, and analysis from Canada's largest community of active investors. We believe this can be accomplished today by using new technologies and leveraging Quebec’s hydropower advantage.”. Their partner is Repsol. Questerre Energy Corp. 1650, 801 Sixth Avenue SW. Calgary, Alberta. Additionally, the Quebec Resource Assessment details the best estimate of risked Contingent Resources net to Questerre is 313 Bcf (52 million boe). Questerre consented to the request. The segments of the group are Western Canada; Quebec ; and Corporate and others. The Attorney General requested an extension for the hearing date on the motion to stay, in order to receive clear instructions from the newly elected government on this matter. The Canada-based company is engaged in the acquisition, exploration, and development of oil and gas projects. In early 2018, the Company engaged GLJ Petroleum Consultants Ltd. (“GLJ”) to update the resource assessment of its Utica acreage in Quebec effective December 31, 2017 with a report date of March 16, 2018 (the “Quebec Resource Assessment”). Questerre expands Clean Tech Pilot engineering to include hydrogen. 1650, 801 Sixth Avenue SWCalgary, AlbertaCanada T2P 3W2tel +1 403 777-1185fax +1 403 777-1578info@questerre.com. Our Clean Tech Energy project in Quebec will dramatically reduce full lifecycle emissions and so could benefit from a stronger focus on ESG.”Commenting … He has been a leader in the campaign for hydrocarbons in Quebec as Chairman of the Quebec Oil & Gas Association. We believe we can successfully transition our energy portfolio. Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment and society. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. The Lowlands are situated in Quebec, south of the St. Lawrence River between Montreal and Quebec City. CALGARY, Alberta, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today … Questerre has submitted a request to the Government of Quebec to consider a science-based research project for clean tech energy production. 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