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CALGARY, Dec. 12, 2016 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported that the National Assembly in Quebec has passed as law Bill 106, An Act to implement the 2030 Energy Policy and amend various legislative provisions. These amendments include the enactment of the Petroleum Resources Act that will govern the development of petroleum resources in Quebec.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This new law is a milestone for Quebec. Following our Utica discovery, Questerre and others lobbied the government for a modern law to develop oil and gas. After more than six years of environmental studies and public consultations, we are pleased with this important step forward."
He added, "This new law lays the groundwork for the introduction of the associated regulations in early 2017. It will also allow us to accelerate the work to secure our social license to operate in the Lowlands."
For more information on Bill 106, please visit http://www.assnat.qc.ca/en/travaux-parlementaires/projets-loi/projet-loi-106-41-1.html.
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 a leader on social license to operate issues for its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec. It is pursuing oil shale projects with the aim of commercially developing these massive 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.
Advisory Regarding Forward-Looking Statements
This media release contains certain statements which constitute forward-looking statements or information ("forward-looking statements") including the introduction of the associated regulations in early 2017 and accelerating its work to secure its social license to operate in the Lowlands.
Although Questerre believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information to Questerre. 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. 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. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Questerre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
SOURCE Questerre Energy Corporation
For further information: Questerre Energy Corporation, Jason D'Silva, Chief Financial Officer, (403) 777-1185 | (403) 777-1578 (FAX) | Email: [email protected]