Questerre Energy Corp (Canada) T.QEC

QEC CEO ……Seeking Damages in $billions

[nozzpack]

What compensation that cannot be denied by any court will be the sunk costs .

So, $160 million in Sunk costs which will have to be adjusted for inflation plus legal fees, lost revenue , market cap destruction and a variety of other legal torts .

Its difficult to see compensation below $500 million in my opinion , with $,1 billion not at all unreasonable , net to QEC.

Note that Compensation talks are scheduled for this year..

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from June / 22  News Release 

Michael Binnion, CEO of Questerre Energy, told the Western Standard their claim is seeking damages in an amount to be determined at trial, but suggested it will also be in the tens of billions to represent fair value compensation. 

Binnion said his company has more than a thirty-year history in the natural gas industry in Quebec and in 2008 drilled a discovery well with 21 trillion cubic feet of gas resources on the company's 1 million acres of land in the province. 

"It is by far the largest gas field in North America," said Binnion. 

He said Questerre has entered into several different license agreements with the Government of Quebec over the years and has invested roughly $160 million on its contracts and exploration. 

"Quebec receives $13 billion in equalization payments yet they won't let an Alberta company develop the gas they have found," said Binnion. 

"And, adding injury to injury, they have expropriated our ability to develop our gas resources without fair compensation." 

He also said he finds an issue with Alberta treating Quebec companies with trade fairness and investor protections," yet Quebec does not do the same for Alberta companies. 

Binnion said he is aware of several other oil and gas companies that plan to also sue the Quebec government for fair-value compensation.