https://finance.yahoo.com/news/questerre-announces-study-well-completion-051500160.html

CALGARY, Alberta, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today it has commissioned a report on a new completion technique to replace conventional frac’ing with a new well stimulation technique.

The new technique is designed to address public concerns of conventional frac’ing of rock underground. The preliminary conclusion is that by using lower pressures and rates than the threshold used for fracturing new rock, the new approach will take advantage of existing natural fractures to stimulate the formation. This is similar to the approach most often utilized in geothermal projects. The final report is expected before end of the first quarter.

The study will be completed by Maurice Dusseault, Professor of Engineering Geology at the University of Waterloo. Professor Dusseault is a registered professional engineer. He frequently works with governments and industry as an advisor and instructor. He has co-authored two textbooks and over 500 articles in engineering and scientific journals. He was on the direction committee for the strategic environmental assessments completed by the Government of Quebec. His biography can be found online: https://uwaterloo.ca/earth-environmental-sciences/people-profiles/maurice-b-dusseault.

Michael Binnion, President and Chief Executive Officer of Questerre commented, “This new technique could be incredibly effective in a naturally fractured formation like the Quebec Utica. Subject to new legislation, we hope to apply to complete two wells in Quebec to prove the efficacy of this new approach.”

The Leader of the House in Quebec recently commented on the upcoming legislation for the expropriation of oil and gas licenses in the province. The Government indicates it plans to limit the compensation to the expenses incurred. A copy of the article can be found online at https://plus.lapresse.ca/screens/e65f17d7-0eb0-4584-aa56-54526ef9dfdd__7C___0.html?utm_content=email&utm_source=lpp&utm_medium=referral&utm_campaign=internal+share.

Mr. Binnion noted, “We are still waiting to see the proposed law, but we are disappointed the Government has taken this opening position. We encourage the Government to reconsider the benefits of our zero-emissions project to meet their climate goals. With respect to any proposed revocation of rights, we urge the Government to maintain respect for international legal principles, existing laws and the Quebec Charter of Human Rights and Freedoms.”

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 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.