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Qesterre Energy Corp
Armoden
13:40 04.06.2018
#4888


Questerre acquires Repsol’s 75% stake in its Utica shale gas resource in Quebec in return for settling all legal disputes (valued at zero in our NAV) related to Talisman’s actions prior to the moratorium on fracking in 2010. This will enable Questerre as an operator to engage directly with local communities and move the project forward without the previous uncertainty around Repsol’s future plans for the asset, which is a major positive in our opinion. We estimate that the transaction will lift our valuation of the Quebec asset by NOK 6-8/share to NOK 12-14/share. Based on our estimate of today’s market pricing of the Quebec upside potential, the implied positive share price reaction would be NOK 2-3/share. BUY reiterated/TP NOK 11 likely to be increased
Secures full control of the future potential development of the Utica shale gas discovery

• Questerre will increase its stake in the Utica shale gas discovery to 100% WI in return for settling all outstanding legal issues related to then Talisman’s (acquired by Repsol in 2014) actions prior to the moratorium on fracking in 2010

• In a separate press release today, Questerre state that it in preparation of the previously expected trail later this year obtained an independent assessment of the damages at CAD 50-240m. We had zero value on this upside potential in our NAV

• Operatorship and 100% WI will enable Questerre’s to freely and independently engage with local communities, which given the company’s impressive progress this far (from moratorium to approved new hydrocarbon law) in our opinion is positive for the likelihood of a successful development of the resources

• The final regulations remain the last regulatory milestone ahead of a potential pilot development of the large natural gas resources. The regulations could according to Questerre be published around the end of this month, which if in line with the proposed regulations is likely to trigger a significant positive share price reaction

Preliminary valuation impact of NOK 6-8/share – Market pricing suggests NOK 2-3 share price upside today

• We estimate that the transaction will lift our valuation of the asset by NOK 6-8/share to NOK 12-14/share after adjusting for the now removed production royalty. This would lift our company NAV to NOK 16-18/share

• Based on the current pricing of Questerre, we believe the market value the Quebec upside potential at around 35% of our risked valuation (assuming other assets valued at P/NAV 0.7x)

• If unchanged post today’s transaction, the implied positive share price reaction would be NOK 2-3/share

• We reiterate our BUY recommendation and expect to lift our TP of NOK 11
Rune Hansen
10:09 05.06.2018
#9050

Putrer videre oppover med 8% som et resultat av meldingen som kom i går formiddag. Tror vi skal få se mange slike dager framover. Det er bare å sette seg tilbake i kontorstolen og nyte oppgangen som vil fortsette.
Rune Hansen
16:09 05.06.2018
#9051

Opp 15% nå.
Er det bare meg her som ser potensialet her eller?

Ja-ja. Jeg driter jo egentlig i det, men jeg synes det er ok å gjøre et par månedslønninger pr dag jeg....
Rune Hansen
09:44 06.06.2018
#9052

Kvekk-kvekk.

Fortsetter oppgangen i dag igjen.
Bli med eller stå å se på.
Valget er ditt.

Endret 09:44 06.06.2018 av Rune Hansen
OldNick
00:22 07.06.2018
#20239

Provinsregjering i Quebec ser ut til å ha strammet inn på frackingreglene i provinsen, etter sterke protester fra "anti-fracking lobbyen". Det blir en 45-dagers høringsperiode før de vel utformer de endelige reglene.


Spørsmålet er, som M.Binnon spør om, blir det mulig å bedrive fracking for å produsere naturgass fra skifer i Quebec etter dette?


Questerre condemns short term election politics in Quebec

Michael Binnon, pressemelding fra Questerre
June 06, 2018

Calgary, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (OSE:QEC, TSX:QEC) reported today on the draft hydrocarbon regulations published by the Government of Quebec.

The Government of Quebec announced new regulations with a 45-day consultation period. If implemented, these regulations would have the effect of banning hydraulic fracturing and any meaningful exploitation of natural gas in Quebec. The press release is available at: http://www.fil-information.gouv.qc.ca/Pages/Article.aspx?aiguillage=ajd&type=1&idArticle=2606062523&lang=en.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Questerre condemns the decision today by the Government of Quebec to capitulate to a vocal minority that are seeking to both block the progress on our global environment and the growth of Quebec’s economy. This decision is motivated solely by short-term politics around the upcoming election.”

He added, “This decision makes no sense from the point of view of the proven science of modern natural gas development, the economy or the will of the majority of Quebecers.”

This announcement is contrary to the science validated by the most comprehensive environmental study of oil and gas development in Canada conducted by the Government of Quebec over four years. It included over 134 independent studies by Quebec scientists. These studies showed there is no link between hydraulic fracturing of natural gas wells and drinking water. Modern natural gas development has been shown by scientific study and by millions of wells to be safe for the environment.

Mr. Binnion further added, “The decision is contrary to the objectives of the Government’s own energy policy adopted after more than a year of public consultation. Local natural gas production will reduce global emissions while providing significant economic benefits including well-paying jobs in Quebec. This is an opportunity for many small towns who want development and to share in the economic benefits.”

The Quebec Oil and Gas Association released today a poll showing 60% of Quebecers support local natural gas development and a pilot project while only 22% of Quebecers are opposed. Mr. Binnion noted, “We have been told for years we need social acceptability. When a strong majority of Quebecers support modern natural gas development that is cheaper, cleaner, more reliable, and better for the economy, we can’t be too far away.” A copy of the poll is available at: https://www.ipsos.com/fr-ca/news-polls/la-production-de-gaz-naturel-au-quebec.

He further noted, “The Quebec government is out of step with the rest of the world on natural gas development. A new generation of natural gas exploitation would see 100% recycled water, biodegradable additives and zero emission from production. Quebec could choose to be the world leader in this new generation of clean gas.”

The Company will be providing detailed feedback to the Government during the consultation process.

Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is pursuing oil shale projects with the aim of commercially developing these significant resources.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:
Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com
______

Pressemelding fra Quebec-regjeringen (på fransk):

Règlements sur les hydrocarbures - Québec propose un encadrement rigoureux afin d'assurer la protection de la population et de l'environnement

Catherine Poulin, Julien Marcotte, Pressesekretær
June 06, 2018

______

TSX:QEC var opp over 10% i ettermiddag på Toronto-børsen, helt til pressemeldingen fra Quebec-regjeringen kom.

Da falt de over 25% på minutter, før de endte på C$0.99 ved slutt (tilsvarer ca. NOK 6.20), ned -11% ift. tirsdag.

Omsetningen var ikke høyere enn ca. 1mill aksjer.

De politiske risikoene for olje- og naturgass-utvinning i Canada har forverret seg betydelig de siste årene, noe som er politisk betinget. Får håpe Trudeau jr. blir en 1-periode statsminister.

Men, som de sier i Canada, det er fortsatt et stykke igjen til han blir like ille (for olje-industrien) som faren sin, Pierre.

QEC er dessverre fortsatt høyrisiko.

Endret 00:24 07.06.2018 av OldNick
renud
01:23 07.06.2018
#17035

Den så jeg ikke komme, og får en blåveis i morgen. Shit happens.

Men just for the record, OldNick.
Man kan mene mangt å mye om Trudeau JR, men dette var Quebec-lokalpolitikk og hadde absolutt nothing whatsoever med ham å gjøre.
longterm
11:07 07.06.2018
#10757

Rune Hansen kvekker antagelig i dag også, men av en annen grunn....
Rune Hansen
12:36 07.06.2018
#9053

Kvekk-kvekk.

Jeg hater politikere som er mer opptatt av miljø enn penger i kassa. Se bare på hva MDG har stilt i stand i Norge. De er tydeligvis ikke et spøtt bedre i Canada.

F A E N !!!
highlander
13:43 07.06.2018
#10392

Etter nærmere 40% oppgang den siste uke på bakgrunn av at QEC inngikk intensjonsavtale om å kjøpe ut lisenspartneren fra selskapets Quebec lisens og derpå følgende kraftig høyet kursmål fra meglerhus varslet i går Quebecs myndigheter om nytt forslag til regulering av olje- og gassutvinning som forbyr fracking.

Ifølge Questerre innebærer dette reelt en stopp for utvinningsmulighetene av selskapets ressurser der. Pareto – som hevet kursmålet fra NOK 11 til 16 grunnet det omtalte kjøpet – varsler på morgenkvisten om at anslått NAV per aksje er NOK 4,4 eksklusive eventuelle verdier knyttet til Questerres Quebec-lisenser.

SP1M anslo ifølge Xi at en naturlig kursreaksjon i dag er minus 40-50%.

I skrivende stund handles aksjen på 4,22 - ned 45,58%.
Provence
16:50 07.06.2018
#10151

Kjøpte en liten post i dag på morgenkvisten ut fra "Dead cat bounce" for dramatiske fall etterfølges av opptur kortvarig og treiding og alt det der ..

Hva er Qec verdt om alt faller i grus ?

Analytiker: Aksjen kan stupe 40-50 prosent

Endret 16:53 07.06.2018 av Provence
renud
19:45 07.06.2018
#17040

Ringvirkningene kan bli ubehagelige, ettersom det aldri var planen at QEC selv skulle utvikle Quebec, men at alt eller mye skulle selges for å utvikle QECs assets utenfor Quebec. Nå er vell ikke siste ord sagt ennå, ettersom dette er et forslag til et nytt regelverk, som nå skal ut på 45 dagers høring, og så er det valg i Quebec 1. oktober. Men best case tar dette selvfølgelig lang tid å snu dette forslaget rundt. Worst case er selvforklarende.

Solgte meg selv ut like etter open og tok tapet. Can't win them all.
highlander
17:14 10.06.2018
#10427

Det kom en helt grei rekyl på fredag - aksjen var volatil med LOD 3,58 og HOD 4,10 kr.

Sparebank1 Markets har redusert kursmålet til 6 kr, etter torsdagens nyhet, men det representerer fortsatt en oppside...
OldNick
20:12 12.06.2018
#20253

QEC har lagt ut en selskapspresentasjon, noe redigert ift. den som ble gitt på AGM 6 juni.

QEC: Company presentation

Børsmelding
12.06.2018



QEC: Company presentation (PDF)

Endret 20:13 12.06.2018 av OldNick
highlander
14:32 14.06.2018
#10504

Questerre Energy Corporation mener at de lokale myndighetene i Quebec ikke har lov til å endre en eksisterende lov gjennom ny regulering.

Det sa konsernsjef Michael Binnion i Questerre under en investorpresentasjon i Oslo onsdag.

I tillegg til det juridiske argumentet sier Binnion at selskapet vil motsette seg forslaget om å forby fracking i delstaten gjennom den offentlige konsultasjonsprosessen, både offentlig og politisk.

Questerre har opsjon om å komme seg ut av den nylige inngått Repsol-avtalen hvis de ønsker, ble det videre vist til ifølge TDN.
OldNick
09:16 27.06.2018
#20293

Qesterre Energy melder om at en feasibility studie for oljeskifer-prosjektet deres i Jordan er ferdigstilt.

Binnon forteller at Capex for et 50 000 f/d prosjekt som inkluderer oppgraderingsanlegg til lav-svovel destillat/diesel er anslått til ca. USD20/fat (tolker det som årsproduksjon, men er ikke sikker). Tilsvarende er opex også i samme området, ca. USD20/fat.

Det høres utrolig rimelig, så her er det nok bare løp-og-kjøp som gjelder (noe som noen investorer allerede ser ut til å ha gjort i årpningsminuttene) :-)

Ellers har jo QEC fått en nokså hard medfart på OSE i dagene etterat meldingen fra provinspolitikerne i Quebec kom for 3 uker siden (se OldNick #20239 fra 7 juni lenger tilbake i topic), hvo QEC.OSE er ned ca. 55% siden sluttkurs 6 juni på 7.75/QEC-aksje.


QEC) Questerre finalizes feasibility study for Jordan oil shale project

Børsmelding
27.06.2018

Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported today on the results of the technical and economic feasibility study for its oil shale project in Jordan. The design basis for the study is an initial project capable of sustaining production of 50,000 bbl/d. The study was conducted by Hatch Ltd., ("Hatch"), a global engineering firm.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, "Completing this study is an important milestone. It validates our own technical and economic assessment of the project. The study estimates capital costs, including a 20% contingency, of US$18 to US$20 per barrel and operating costs of approximately US$18 per barrel. While these costs are very early stage, our project could be very competitive with other large energy projects. Our estimated costs include upgrading all the produced oil to low sulphur diesel and gasoline which, based on a study of the local market, typically realizes a US$10 to US$12 per barrel premium to Brent pricing."

Commenting on next steps, he added, "Based on these positive results, we plan to move to the next phase of engineering with Hatch, known as pre front-end engineering design ("pre-FEED") or FEL 2. The pre-FEED work will include the design and costing for a pilot project. It will also improve the accuracy of the current AACE Class 5 cost estimates above, which have an average accuracy of +100/-50%, to Class IV cost estimates which will have an average accuracy of +30/-20%. It will leverage the ongoing pre-FEED (FEL 1 & FEL 2) work by our partner, Red Leaf, on their EcoShale process for the project in Utah. Pre-FEED work for the retort is scheduled to begin next quarter."

He further added, "Later this year, we plan to commence negotiations with the Jordanian Ministry of Energy and Mineral Resources for a concession agreement. We have been very pleased with their support and strong commitment to developing their natural resources. We are looking forward to finalizing the fiscal and other terms essential to the overall project economics and our ability to finance the next stage of development."

The study follows the completion of nine independent studies covering all four aspects of the production of crude oil including mining and feed preparation, retorting, utilities and infrastructure and marketing and refining. The initial design basis was for production of 20,000 bbl/d. The recent study completed by Hatch integrated these studies with adjustments deemed appropriate for this stage including scaling them up to a capacity of 50,000 bbl/d to provide AACE Class 5 estimates of capital and operating costs. The 50,000 bbl/d capacity was chosen to capture some of economies of scale for the mining and upgrading components and to satisfy the local Jordanian market for imports.

Some of the key considerations for design of the commercial facility included minimizing water usage in one of the driest areas of the world, maximizing the generation of finished products, including diesel and gasoline, and generating sufficient power and heat internally to minimize imports. Based on its assessment of multiple retorting technologies, the Company believes Red Leaf's reusable capsule EcoShale process has several advantages for the Jordanian oil shale. It efficiently heats and produces oil from the shale while capturing the produced water for future use in the process. This eliminates the need to source water. Based on recent testing of the Jordanian shale by Red Leaf, the Company estimates the yield as a percentage of Modified Fischer Assay ("MFA") could be as high as 95% to 97%. Working with Red Leaf, the Company is optimizing the EcoShale process for its Jordanian oil shale with the goal of improving yields further.

Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is pursuing oil shale projects with the aim of commercially developing these significant resources.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:
Questerre Energy Corporation, Jason D'Silva, CFO, tel. (403) 777-1185, Fax. (403) 777-1578, Email: info@questerre.com

Endret 09:17 27.06.2018 av OldNick
highlander
16:13 27.06.2018
#10750

Pareto Securities har i dag kommet med en oppdatering, der meglerhuset ser fortsatt oppside i aksjen, men halverer likevel kursmålet på selskapet til et kursmål på 8 kr.

Årsaken til dagens kursoppgang er den nyheten OldNick viser til ovenfor. Pareto skriver at de ikke har inkludert noen verdi på Jordan-prosjektet, ettersom det fortsatt er på et tidlig stadie.

Aksjen raste tidligere denne måned med mer enn 40 prosent, etter at det ble kjent at den kanadiske regjeringen annonserte nye regler mot hydraulisk brudd. Meglerhuset har tatt høyde for denne risikoen, og på denne bakgrunn altså redusert kursmålet til 8 kr.

Endret 16:14 27.06.2018 av highlander
OldNick
08:55 10.08.2018
#20510

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OldNick
12:25 20.08.2018
#20542

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highlander
16:32 20.08.2018
#11778

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highlander
17:16 27.08.2018
#11891

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highlander
08:34 13.09.2018
#12366

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OldNick
16:17 01.10.2018
#20728

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highlander
22:29 01.10.2018
#12729

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OldNick
08:04 02.10.2018
#20740

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OldNick
09:03 03.10.2018
#20750

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