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Questerre Energy Corp (Canada) QTEYF


Primary Symbol: T.QEC

Questerre Energy Corporation is a Canada-based energy technology and innovation company. The Company is engaged in the acquisition, exploration and development of oil and gas projects, in specific, non-conventional projects such as tight oil, oil shale, shale oil and shale gas. The Company’s segments include Western Canada, Quebec and Corporate & other. The Western Canada segment is engaged in exploration and development activities in Western Canada, including Alberta, Saskatchewan, and Manitoba with existing production of natural gas, crude oil, and natural gas liquids. The Quebec segment is engaged in development of a significant natural gas discovery in the province with a focus on securing social acceptability and regulatory approvals for a clean technology energy project. The Corporate & other segment provides general and administrative resources to manage the respective operating segments. It also Includes exploration activities in the Kingdom of Jordan.


TSX:QEC - Post by User

Post by nozzpackon Jan 06, 2022 7:24am
142 Views
Post# 34288210

Recent Quebec Court Case Confirms legal basis for Compensat

Recent Quebec Court Case Confirms legal basis for Compensat

Utica Resources' Court Victory Means the Government Must Choose: Develop Quebec's Hydrocarbons or Compensate Companies at Fair Value Franais


NEWS PROVIDED BY

Ressources Utica 

Nov 23, 2021, 07:22 ET


QUBEC, Nov. 23, 2021 /CNW/ - In a judgment rendered on November 15, 2021, the Quebeccourt decided in favor of Gaspe Energies (a subsidiary of Utica Resources) and clearly ruled that a key article of the regulation limiting hydrocarbon development in Qubec is invalid. Following this decision, we look forward to discussing with the government the best way to develop Quebec's huge hydrocarbon resources.

Quebec's hydrocarbon resources are significant and producing locally rather than continuing to import hydrocarbons would greatly benefit Quebec. Local production would provide Quebec with sizeable new revenues from royalty and tax, create many high-paying local jobs, improve Quebec's energy security and reduce GHG emissions associated with the importation of the hydrocarbons we consume.

The Legault government's announcement to expropriate the hydrocarbon companies' rights is without environmental or financial logic and is bad for Quebecers. If the government persists with this historic error and wants to remain serious with investors, it must follow Quebeclegislation and immediately begin the process of compensating companies on the basis of fair value.  Any other approach would be illegal, neither fair nor equitable, and, as Minister Julien himself indicates, would make Quebec look like a banana republic.

About Utica Resources
Utica Resources is a Quebec company whose mission is to participate in the energy transition currently underway by developing a diversified portfolio that includes, in addition to light oil and natural gas, renewable energy projects such as hydrogen and CO2 storage. All our projects are carried out with a view to sustainable development, optimal use of available resources, respect for host communities and maximization of local economic benefits.


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