Canaccord research todayQuesterre Energy* (QEC : TSX : $3.40), Net Change: 0.52, % Change: 18.06%, Volume: 1,319,608
Unconventional plays attracting conventional eyes – and money! Any Canadian investor that participated, and most likely got caught up, in the euphoria surrounding the unconventional natural gas movement in the Spring of 2008 knows the name Questerre Energy. It was one of the first to stake claims in Quebec's St. Lawrence Lowlands and sign joint-venture and farm-in deals with major players like Talisman Energy (TLM) and Forest Oil (FST).
During the spring of 2008 any company that mentioned the word "shale" saw its stock soar. Now, after the carnage that ripped through the junior natural gas sector, gone are many of the fly-by-night companies that never really had anything behind their press releases mentioning potential for shale gas...and left are the high-quality juniors with assets that may prove to be very valuable and attractive to the larger names in the sector. As far as Canada goes, Questerre is the flagship unconventional name amongst the juniors.
With the recent announcements by Exxon (XOM)/XTO Energy (XTO) and Total S.A. (TOT)/Chesapeake Energy (CHK) legitimacy and excitement has returned to the unconventional gas sector. As a result, Questerre's stock price has moved strongly higher. Going forward, positive drill results out of the St. Lawrence Lowlands and/or further M&A activity in the sector will continue to attract more attention to Questerre.