Secondary targets include the shallower Lorraine silts and shale and the deeper Trenton Black-River carbonate. Their partner is Repsol. “Gross” resources are Questerre’s working interest (operating or non-operating) share before deduction of royalties and without including any royalty interests of Questerre. 1650, 801 Sixth Avenue SWCalgary, AlbertaCanada T2P 3W2tel +1 403 777-1185fax +1 403 777-1578info@questerre.com. Last March MDN told you that Questerre Energy, a Canadian driller who has patiently waited for years to begin drilling on their extensive Utica Shale acreage in the St. Lawrence Lowlands of Quebec, Canada, had hammered out an agreement with joint venture partner Repsol to buy out Repsol's ownership interest in 753,000 Utica acres (see Questerre Energy Picks Up Another 753K Utica Acres in Quebec). Questerre expands Clean Tech Pilot engineering to include hydrogen. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Hydrogen is becoming more important as a … The estimates of prospective resources involve implied assessment, based on certain estimates and assumptions, that the resources described exists in the quantities predicted or estimated, as at a given date, and that the resources can be profitably produced in the future. The Company operates non … 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. Questerre may post a letter of creditas security for the A&R Liabilities. Post-closing, Questerre holds the rights to approximately one million net acres covering a well-established gas resource. Other consideration including cash and contingent payments and the security required for the assumption of abandonment and reclamation liabilities (“A&R Liabilities”) is approximately $11 million in aggregate prior to closing adjustments. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. The area is prospective for natural gas in several horizons with the primary target being the Utica shale. CALGARY, Alberta, Jan. 22, 2020 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has received all approvals and has closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company (the “Agreement”) as set out in the Company’s press release … Stockhouse.com use cookies on this site. The Canada-based company is engaged in the acquisition, exploration, and development of oil and gas projects. Of that, Questerre is considering (for now) drilling on 36,000 acres. Test data from these wells, in conjunction with offset development and studies of the analogous US Utica, supports the prospective commercial development of these resources. He has been a leader in the campaign for hydrocarbons in Quebec as Chairman of the Quebec Oil & Gas Association. For further details regarding the GLJ Resource Assessment, including definitions and terminology, the classification of resources, methodology, significant positive and negative factors relative to the estimate, and risks associated with development of the resource, please see the Company’s press release dated March 12, 2018. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment. The main beneficiary if Questerre Energy Corporation, which owns ~350,000 acres in the Quebec Utica. This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s plans to engage the Government and other stakeholders on its Clean Tech Energy project, its plans to share profits from this project with local communities, its belief that this will be essential to the social acceptability needed to move forward and its plans to update the resource assessment for the newly acquired acreage. Calgary, Alberta — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has received all approvals and has closed the acquisition of assets in Quebec pursuant to the purchase and sale agreement with a senior exploration and production company (the “Agreement”) as set out in the Company’s press release dated March 7, 2019. Energy. Those factors and assumptions are based upon currently available information available to Questerre. 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