The Company plans to update this assessment for the newly acquired acreage later this year. Questerre Energy is currently engaged in the acquisition, exploration and development of oil and gas projects. Questerre, a Canadian driller, has patiently waited for years to begin drilling on their extensive Utica acreage in the St. Lawrence Lowlands of Quebec–even though last year Quebec all but permanently banned such drilling (see Quebec to Ban Utica Shale Drilling, Most Other Drilling Too). 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. 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. 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. Their partner is Repsol. Questerre believes that the remaining Regulations, while stricter than other jurisdictions, are generally workable. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. 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 You gotta give Questerre Energy Corporation credit–they keep trying, even in the face of total opposition. The Canada-based company is engaged in the acquisition, exploration, and development of oil and gas projects. 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. 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. Following a successful vertical test well program in 2008 and 2009, Questerre and its partner, Repsol Oil & Gas Canada Inc. (formerly Talisman Energy Inc.), began a pilot horizontal well program to assess commerciality of the Utica shale in 2010. Stockhouse.com use cookies on this site. Energy. There is no certainty that any portion of the prospective resources will be discovered. Alternate Symbol (s): QTEYF. The net present value of the risked Contingent Resources, including the development on hold and development unclarified sub categories, discounted at 10% before tax is estimated at $409 million. Given the high importance of the issues, the Company has been granted a fast track hearing on judicial review in the first quarter of 2019 that will decide on setting the fracking ban regulations aside. Questerre Energy CEO pitches fracking project in Quebec Open this photo in gallery: A Questerre shale gas exploration well is seen near St. Edouard, Que., in 2010. Questerre is an energy technology and innovation company. The segments of the group are Western Canada; Quebec ; and Corporate and others. 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