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2008-05-14 - Kvartalsrapport 2008-Q1

Beskrivning

LandKanada
ListaOslo Bors
SektorRåvaror
IndustriOlja & gas
Questerre Energy är ett kanadensiskt olje- och gasbolag. Bolaget exploaterar och producerar ett flertal olika oljor, inkluderat lättolja och skifferolja. Bolaget är verksamma i hela processen, från prospektering till produktion. Utöver produceras även skiffergas. Bolaget innehar verksamhet främst i Nordamerika. Bolaget grundades 2000 och har sitt huvudkontor i Calgary, Kanada.
2025-05-26 08:00:00
Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company")
(TSX,OSE:QEC) reported on the recent ruling by the Court of Appeal of Quebec
related to Bill 21, An Act ending exploration for petroleum and underground
reservoirs and production of petroleum and brine ("Bill 21"). A copy of the
ruling in French is available online:
https://courdappelduquebec.ca/fileadmin/jugements/200-09-010731-245_Arret_2025-0
5-22.pdf.

Michael Binnion, President and Chief Executive Officer of Questerre, commented,
"In its ruling, the Court of Appeal recognized the existence of a serious issue
with respect to the constitutionality of Bill 21 and reinstated certain
provisions of Bill 21. We will request leave to appeal this ruling to the
Supreme Court of Canada. In the interim, we will ask the Court of Appeal to
suspend this ruling until such time. This means that subject to our appeal, the
Government of Quebec could move to enforce the specific provisions related to
the abandonment and reclamation of existing wells."

He added, "This ruling by the Court of Appeal has no impact on the main trial on
the merits of the case. We are following the legal process for this case and
have a hearing this week on the Government representatives to be questioned
prior to setting a trial date."

The ruling by the Court of Appeal relates to the appeal by the Attorney General
of Quebec of a judgement rendered in January 2024 by the Quebec Superior Court
suspending key provisions of Bill 21. A copy of the original ruling is available
online:
https://www.questerre.com/wp-content/uploads/2024/01/2024-01-25-Decision-English
.pdf. The appeal concerns the analysis of the criteria applicable to the
suspension of a law. The Court of Appeal dismissed the joint motion by the
Company and other license holders for the review and annulment of the judgement
granting the appeal and allowed the appeal.

The Court of Appeal noted in its decision that the Justice did not err in law or
exercise his discretion in an unjudicial or unreasonable manner in concluding
there was a serious question to be decided. The Court of Appeal noted that the
Justice erred in law on the balance of convenience test and did not presume that
the suspension of Bill 21 would cause irreparable harm to the public interest.
The ruling noted that in view of the importance of the public interest and the
failure to demonstrate the benefits to the public of suspending key provisions
of Bill 21 it allowed the appeal and overturned the Justice's original decision.

Questerre is an energy technology and innovation company. It is leveraging its
expertise gained through early exposure to low permeability reservoirs to
acquire significant high-quality resources. We believe we can successfully
transition our energy portfolio. With new clean technologies and innovation to
responsibly produce and use energy, we can sustain both human progress and our
natural environment.

Questerre is a believer that the future success of the oil and gas industry
depends on the 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

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements") including the Company's
plans to seek leave to appeal to the Supreme Court of Canada, its plans to ask
the Court of Appeal to suspend the ruling and the impact of this ruling on the
main case.

Forward-looking statements are based on several material factors, expectations,
or assumptions of Questerre which have been used to develop such statements and
information, but which may prove to be incorrect. Although Questerre believes
that the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them because Questerre can
give no assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Further, events or circumstances may
cause actual results to differ materially from those predicted as a result of
numerous known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company, including, without limitation: the
implementation of Bill 21 by the Government of Quebec and certain other risks
detailed from time-to-time in Questerre's public disclosure documents.
Additional information regarding some of these risks, expectations or
assumptions and other factors may be found in the Company's Annual Information
Form for the year ended December 31, 2024, and other documents available on the
Company's profile at www.sedar.com. The reader is cautioned not to place undue
reliance on these forward-looking statements. The forward-looking statements
contained in this news release are made as of the date hereof and Questerre
undertakes no obligations to update publicly or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.