- Questerre Energy Corp. supports a Québec Superior Court ruling on its application to halt provisions of Bill 21’s ending of petroleum exploration and production
- In a media statement, the Calgary-based energy company called the ruling “exceptional” on the company’s application to stay certain provisions of the “Act ending exploration for petroleum and underground reservoirs and production of petroleum and brine”
- In the ruling, the Justice assessed the key criteria for a stay and deemed that Questerre’s application met those criteria
- Questerre Energy Corp. stock opened trading at $0.24 per share
Questerre Energy Corp. (TSX:QEC) supports a Québec Superior Court ruling on its application to halt provisions of Bill 21’s ending of petroleum exploration and production.
In a media statement, the Calgary-based energy company called the ruling “exceptional” on the company’s application to stay certain provisions of the “Act ending exploration for petroleum and underground reservoirs and production of petroleum and brine,” for the duration of the judicial proceedings.
In the ruling, the Québec Superior Court justice assessed the key criteria for a stay and deemed that Questerre’s application met those criteria. This included the existence of what the company called a serious legal matter and the “serious or irreparable harm” if the request for a stay is refused.
Michael Binnion, president, and CEO of Questerre, commented in a news release that the ruling in the company’s favour preserves its legal rights as the team continues to work for a political and business solution to the situation in Québec.
“The argument of the attorney general is, in effect, that the powers of the legislature are supreme even over laws intended to limit the powers of the legislature,” he said. “This would, in effect, nullify the provisions of the Civil Code and Charter protecting citizens from abuse of government powers. It is a hallmark of constitutional democracies that the government has limits on its power and the disguised expropriation of our assets in Québec should be compensated for.”
Looking to some background on this issue, the attorney general had argued that Civil Code of Québec and the Québec’s Charter of human rights and freedoms provisions, while protecting the right to property of citizens and companies against unreasonable use of government powers, do not apply if the government chooses to use those same powers to override them. The justice noted that the circular nature of the attorney general’s argument gave rise to a serious legal matter.
“We remain hopeful for a solution that will materially reduce Canadian greenhouse gas emissions while improving energy security,” Binnion added.
Questerre Energy Corp. is an energy technology company that is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources.
Questerre Energy Corp. stock was up more than 45 per cent early Friday and opened trading at $0.24 per share.
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