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CALGARY, March 14, 2016 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that it was recognized as the top publicly traded emerging producer by the Explorers and Producers Association of Canada ("EPAC") for 2015.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, "We are honored by this recognition. The success of our Montney play delivered strong results last year, both in terms of cash flow and reserve growth. This was driven by the quality of acreage which lies in one of the sweet spots of this play. It shows that geology still matters, even in resource plays."
He added, "Just like our Montney acreage, our Utica acreage is in the sweet spot of the play in Quebec. We have been very encouraged by the results of the Utica in the US which suggest it has the potential to be as large as the Marcellus shale. We believe Lotbiniere and Becancour are prime locations for our pilot projects in Quebec given the geology, strong local support, and market access. We are looking forward to the final studies from the environmental assessment and the new hydrocarbon legislation this spring."
Hosted by EPAC in partnership with JuneWarren-Nickle's Energy Group, the EPAC Awards recognize and celebrate the leading exploration and production companies in Canada's oil and gas industry. Nominees for the EPAC Awards are evaluated against their peers by a panel of judges drawn from Alberta Treasury Branch, ARC Financial, DeGolyer & McNaughton, Dentons, EPAC executives, and KPMG. Metrics such as production & cash flow growth and return for investors are considered along with standards of excellence and leadership in community engagement, environmental stewardship, technical innovation and entrepreneurship.
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 Company's view that its acreage lies in one of the sweet spots of the play, that its acreage in Quebec is in the sweet spot of the play, the potential of the Utica shale to be as large as the Marcellus shale, the potential of the Becancour and Lotbiniere areas for the proposed pilot projects and the timing of the final studies from the environmental assessment and the new hydrocarbon legislation. 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 available 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]