QEC - Utica Resources sues the Quebec government for $18 Billion
This will in theory price the QEC share to a couple of hundred NOKđđđđ
Quebec Gets Sued: Bill 21: Utica Resources sues the Quebec government for $18 Billion for violating Article 6 of the Quebec Charter of Rights and Freedoms - Energy News for the Canadian Oil & Gas Industry
energynow.ca
Bill 21 constitutes an attack on Utica Resourcesâ right to âthe peaceful enjoyment and free disposition of its propertyâ, a fundamental right protected by the Quebec Charter of Rights and Freedoms (Article 6) and section 952 of the Civil Code of Quebec, which states that âNo owner may be compelled to transfer his ownership except by expropriation according to law for public utility and in return for a just and prior indemnity.â
âWe will defend our rights so that this disguised expropriation, the public utility of which does not exist, is compensated at the fair value of our propertiesâ, declared Uticaâs CEO, Mario LĂ©vesque. âA leading independent expert has concluded that Uticaâs properties would generate $67 Billion in future profits (net value of recoverable resources in place), the equivalent of $18 Billion in net present value using the discount rate of the Court.â
âFor years, the Quebec government had invited us and others to invest in order to explore and extract Quebecâs oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebecâs regulatory requirements. Then from one day to the next, the government changed its mind for political reasons and effectively expropriated our properties without proper prior compensation. Bill 21 is completely irresponsible and without logic in all regards and goes against the will of a significant majority of Quebecers. It is bad for Quebec, our European allies who desperately need our gas and even for the environment.â
If the governmentâs actions were to be upheld by the Court, it would mean that there are no property rights in Quebec and Canada. The province and the country would become un-investable and make a mockery of Mr. Legaultâs claim that âQuebec is not a banana republicâ and Invest in Canadaâs claim that âCanada is the best country for global investment. Period. â
Utica Resources is a Quebec company whose mission is to participate in the energy transition currently underway by developing a diversified portfolio that includes, in addition to light oil and natural gas, renewable energy projects such as hydrogen and CO2 storage. All our projects are carried out with a view to sustainable development, optimal use of available resources, respect for host communities and maximization of local economic benefits.
https://energynow.ca/2022/06/quebec-gets-sued-bill-21-utica-resources-sues-the-quebec-government-for-18-billion-for-violating-article-6-of-the-quebec-charter-of-rights-and-freedoms/?amp
Quebec Gets Sued: Bill 21: Utica Resources sues the Quebec government for $18 Billion for violating Article 6 of the Quebec Charter of Rights and Freedoms - Energy News for the Canadian Oil & Gas Industry
energynow.ca
Bill 21 constitutes an attack on Utica Resourcesâ right to âthe peaceful enjoyment and free disposition of its propertyâ, a fundamental right protected by the Quebec Charter of Rights and Freedoms (Article 6) and section 952 of the Civil Code of Quebec, which states that âNo owner may be compelled to transfer his ownership except by expropriation according to law for public utility and in return for a just and prior indemnity.â
âWe will defend our rights so that this disguised expropriation, the public utility of which does not exist, is compensated at the fair value of our propertiesâ, declared Uticaâs CEO, Mario LĂ©vesque. âA leading independent expert has concluded that Uticaâs properties would generate $67 Billion in future profits (net value of recoverable resources in place), the equivalent of $18 Billion in net present value using the discount rate of the Court.â
âFor years, the Quebec government had invited us and others to invest in order to explore and extract Quebecâs oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebecâs regulatory requirements. Then from one day to the next, the government changed its mind for political reasons and effectively expropriated our properties without proper prior compensation. Bill 21 is completely irresponsible and without logic in all regards and goes against the will of a significant majority of Quebecers. It is bad for Quebec, our European allies who desperately need our gas and even for the environment.â
If the governmentâs actions were to be upheld by the Court, it would mean that there are no property rights in Quebec and Canada. The province and the country would become un-investable and make a mockery of Mr. Legaultâs claim that âQuebec is not a banana republicâ and Invest in Canadaâs claim that âCanada is the best country for global investment. Period. â
Utica Resources is a Quebec company whose mission is to participate in the energy transition currently underway by developing a diversified portfolio that includes, in addition to light oil and natural gas, renewable energy projects such as hydrogen and CO2 storage. All our projects are carried out with a view to sustainable development, optimal use of available resources, respect for host communities and maximization of local economic benefits.
https://energynow.ca/2022/06/quebec-gets-sued-bill-21-utica-resources-sues-the-quebec-government-for-18-billion-for-violating-article-6-of-the-quebec-charter-of-rights-and-freedoms/?amp
Redigert 22.06.2022 kl 22:03
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Lad os som sagt se, hvem der ler sidst đ Uanset hvad kursen gĂžr i morgen eller nĂŠste uge, sĂ„ peger pilen op for QEC og vi er nu laaaaaaangt vĂŠk fra 0,50 NOK đ
Slettet brukerskrev Oppe med 20% i Canada nu med hvad der svar til 2.04 NOK pĂ„ Oslo BĂžrsen đ
Ja sikkert, fĂžlger nok etter det vi ser i Canada i kveld som du sier đłđ«Ł
OPC1000 skrev Skal den ikke under 1? Har du ombestemt deg ?
GĂ„r bra i Toronto for dere som er opptatt av det.
OPC1000
28.06.2022 kl 19:02
4279
Cph2500 skrev & now 1,94 Later 1- 1,50 đ nkr đ€Ł
Skal den ikke under 1?
Har du ombestemt deg ?
Har du ombestemt deg ?
Carlsen73
28.06.2022 kl 18:58
4295
Cph2500 skrev & now 1,94 Later 1- 1,50 đ nkr đ€Ł
Det er en relativt ligegyldig detalje. Men hos mig siger kursen altsÄ 1,95.
Cph2500
28.06.2022 kl 18:43
4357
Jensi skrev First 3.- Then 30.- then 300 !!!! đđČ
& now 1,94
Later 1- 1,50
đ nkr
đ€Ł
Later 1- 1,50
đ nkr
đ€Ł
Jensi
28.06.2022 kl 18:11
4429
panamajack skrev A big cup with handle. 30 NOK. https://invst.ly/yf9zm
First 3.-
Then 30.-
then 300 !!!!
đđČ
Then 30.-
then 300 !!!!
đđČ
OPC1000
28.06.2022 kl 16:25
4640
Da har vi ventet og sett (jeg tar det pÄ norsk).
Vi venter alle spent pÄ din (bort) forklaring ?
Blir du aldri flau ?
Vi venter alle spent pÄ din (bort) forklaring ?
Blir du aldri flau ?
mofi1
28.06.2022 kl 09:52
3515
AngÄende stÞrrelsen pÄ erstatningen er sannsynligheten for hvilken lovanvendelse som vil kunne komme til anvendelse, helt avgjÞrende. Siden Utica Resourses leder an blir det svÊrt spennende Ä se hva myndighetene svarer og hvordan juristene vurderer dette med f.eks. «Fair value» eller realismen i Ä kunne bli fullt ut kompensert for nÄverdiene i bakken.
Det er interessant at Binnion mener dette er verre enn ekspropiasjon, og kaller det en overtakelse.
Det er interessant at Binnion mener dette er verre enn ekspropiasjon, og kaller det en overtakelse.
Redigert 28.06.2022 kl 10:00
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MC Axel
28.06.2022 kl 09:31
3593
QEC should be +3 NOK a long time ago, based only on the oil and gas priceđ It will come soon!
And with billions in compensations it hard to say how high 30 NOK
And with billions in compensations it hard to say how high 30 NOK
MC Axel
28.06.2022 kl 01:22
3894
I especially like this sentence đ€ I hope you all can see the significance in this!!!đ
""""""""""""An unofficial English translation of the 114-page Utica lawsuit documents the role the government played in supporting the exploration activity. In 2019 the provinceâs energy department boasted about the potential. âEventual production of hydrocarbons in Quebec would reduce imports and improve the balance of trade. This creation of wealth and jobs could be used to the benefit of Quebecers.â"""""""
""""""""""""An unofficial English translation of the 114-page Utica lawsuit documents the role the government played in supporting the exploration activity. In 2019 the provinceâs energy department boasted about the potential. âEventual production of hydrocarbons in Quebec would reduce imports and improve the balance of trade. This creation of wealth and jobs could be used to the benefit of Quebecers.â"""""""
MC Axel
27.06.2022 kl 23:56
3971
Utica Resources won their first case in court and I think they will win again, although I think the Quebec government will reach a settlement
The government of Quebec Premier Francois Legault, left, faces a lawsuit for its legislation â Bill 21 â described as an act âto end petroleum exploration and production.â PHOTO BY JACQUES BOISSINOT /THE CANADIAN PRESS
n what is shaping up as the first major legal confrontation over government plans to shut down fossil fuel industries in Canada, Montreal-based Utica Resources this week filed a 114-page suit against the Quebec government demanding $18-billion in compensation.
đ
Another company with major gas reserves in the province, Calgaryâs Questerre Energy, is also moving forward with legal action seeking multi-billion-dollar compensation. Michael Binnion, Questerre CEO, describes the Quebec shutdown of fossil fuels as worse than expropriation. âI call it confiscation,â he said in an interview. Statistically, he said, âhalf the Russian exports of gas to Germany could be replaced by our discovery in Quebec.â He said Questerre holds 21 trillion cubic feet (tcf) in resources. A rough rule is that each tcf is worth $1-billion for a total of $21-billion.
Quebec is fucked!đŻ
""""""""""""An unofficial English translation of the 114-page Utica lawsuit documents the role the government played in supporting the exploration activity. In 2019 the provinceâs energy department boasted about the potential. âEventual production of hydrocarbons in Quebec would reduce imports and improve the balance of trade. This creation of wealth and jobs could be used to the benefit of Quebecers.â"""""""
Backed by activists, the province then abandoned the industry and converted to a full-bore net-zero carbon emissions program. The cost of that conversion could be high if the courts support the legal arguments of the industry. Utica describes the fossil fuel shutdown as a breach of Quebecâs charter of rights and civil code, which requires compensation when property rights are violated.
A good point! đ
As Levesque put it: âFor years, the Quebec government had invited us and others to invest in order to explore and extract Quebecâs oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebecâs regulatory requirements. Then from one day to the next, the government changed its mind for political reasons and effectively expropriated our properties without proper prior compensation.â
https://stockhouse.com/companies/bullboard/t.qec/questerre-energy-corporation?postid=34785749
The government of Quebec Premier Francois Legault, left, faces a lawsuit for its legislation â Bill 21 â described as an act âto end petroleum exploration and production.â PHOTO BY JACQUES BOISSINOT /THE CANADIAN PRESS
n what is shaping up as the first major legal confrontation over government plans to shut down fossil fuel industries in Canada, Montreal-based Utica Resources this week filed a 114-page suit against the Quebec government demanding $18-billion in compensation.
đ
Another company with major gas reserves in the province, Calgaryâs Questerre Energy, is also moving forward with legal action seeking multi-billion-dollar compensation. Michael Binnion, Questerre CEO, describes the Quebec shutdown of fossil fuels as worse than expropriation. âI call it confiscation,â he said in an interview. Statistically, he said, âhalf the Russian exports of gas to Germany could be replaced by our discovery in Quebec.â He said Questerre holds 21 trillion cubic feet (tcf) in resources. A rough rule is that each tcf is worth $1-billion for a total of $21-billion.
Quebec is fucked!đŻ
""""""""""""An unofficial English translation of the 114-page Utica lawsuit documents the role the government played in supporting the exploration activity. In 2019 the provinceâs energy department boasted about the potential. âEventual production of hydrocarbons in Quebec would reduce imports and improve the balance of trade. This creation of wealth and jobs could be used to the benefit of Quebecers.â"""""""
Backed by activists, the province then abandoned the industry and converted to a full-bore net-zero carbon emissions program. The cost of that conversion could be high if the courts support the legal arguments of the industry. Utica describes the fossil fuel shutdown as a breach of Quebecâs charter of rights and civil code, which requires compensation when property rights are violated.
A good point! đ
As Levesque put it: âFor years, the Quebec government had invited us and others to invest in order to explore and extract Quebecâs oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebecâs regulatory requirements. Then from one day to the next, the government changed its mind for political reasons and effectively expropriated our properties without proper prior compensation.â
https://stockhouse.com/companies/bullboard/t.qec/questerre-energy-corporation?postid=34785749
Redigert 28.06.2022 kl 01:19
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Ja, en stigning pĂ„ 40% den sidste mĂ„ned kaldes for âpump & dumpâ đ Du er dummere end pap og det beviser du sĂ„ lige igen đđ
3 NOK er jo nĂŠste stop og du ved det godt đ MEN den kom aldrig i 0,50 NOK, som du ellers lovedeâŠ.husker du, Steviewonderpick đ€·ââïžđ€©
Redigert 27.06.2022 kl 22:47
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1013
27.06.2022 kl 21:26
4583
MÄske du skulle sÊtte dig ind i aktien inden du solgte. Rekord indtjening forlig om erstatning. Alt sammen inden for de nÊste 3 mÄneder. Kursen kommer kun til at gÄ en vej og det er op.
Den skulle jo ikke under 2kr igjen men over 3krâŠ..husker du Elly đ
Ja, som nĂŠvnt tidligere i dag, sĂ„ rammer vi 2 NOK allerede i denne uge og det stopper jo langt fra her. QEC er mĂžgbillig pĂ„ dette niveau og selv XL ved godt, hvad klokken har slĂ„et đ
IncognitoPamda
27.06.2022 kl 18:06
5135
Mulla3 skrev tjent godt i abt?
Nei. Jeg skulle ha solgt og valgte Ä holde. Den har fÄtt juling over lang tid nÄ. Fikk en Þrliten fortjeneste, men det kan virke som det er en stund til noe skjer der. Tenker meg igjen i lÞpet av Äret en gang.
Oppe med 20% i Canada nu med hvad der svar til 2.04 NOK pĂ„ Oslo BĂžrsen đ
IncognitoPamda
27.06.2022 kl 17:49
5203
Jeg har ingenting prinsipielt imot emojier, men den type bruken som "Aksjen skal ned đđđ" gjentatte ganger uten begrunnelse er sĂ„ useriĂžst at jeg sliter med Ă„ forstĂ„ hensikten bak.
Jeg er relativt ny til questerre, men jeg synes den er lovende selv om de ikke skulle fÄ den enorme erstatningen de hÄper pÄ.
Jeg hÄper det blir mer konstruktiv kritikk fremover, men da hÄper jeg kanskje pÄ mye.
Jeg er relativt ny til questerre, men jeg synes den er lovende selv om de ikke skulle fÄ den enorme erstatningen de hÄper pÄ.
Jeg hÄper det blir mer konstruktiv kritikk fremover, men da hÄper jeg kanskje pÄ mye.
OPC1000
27.06.2022 kl 17:43
5228
De som Þnsker aksjen ned ville ikke fremstÄtt sÄ "dumme" hvis ikke aksjen gikk sÄ mye opp.
mundus
27.06.2022 kl 17:27
5295
Slettet brukerskrev Rene barnehagen her inne. Flaut.
Enig Z4. Pinlig flaut.
Rene barnehagen her inne. Flaut.
Der er ikke meget "pump & dump" over en aktie, som er steget 40% den seneste mÄned, sÄ igen udstiller du dig selv, din klaphat :-)......flot stigning igen i dag iÞvrigt:-)
Nummer20
27.06.2022 kl 15:35
5563
Det er slike verdier jeg mener ikke gjenspeiles i kursen pr nÄ. QEC har vel ikke produsert som i dag og med slike inntekter noen gang. Kontroll pÄ gjeld ogsÄ. Egentlig kan QEC bare lene seg tilbake, produsere 2000+ boe/d (2500 i lÞpet av H2), ta erstatningen, og smile hele veien til banken.
comedian
27.06.2022 kl 14:48
5676
Nummer20 skrev Tenker du at aksjen skal splittes, eller? đ€Ł
ORLENâs acquisition of Questerreâs JV partner in October 2015 (WTI USD 46/bbl), valued QECâs 25% stake alone to NOK 2.0/share (after deducting for net debt).
Todays price @ USD 100/bbl, you do the math!
Todays price @ USD 100/bbl, you do the math!
Hvor gammel er du? 8 ?
Cph2500
27.06.2022 kl 13:50
5762
Rolig nu
Sommeren er ikke slut endnu ..
Jeg gentager igen under 1 kr inden sommeren slut..
Sommeren er ikke slut endnu ..
Jeg gentager igen under 1 kr inden sommeren slut..
sigj2
27.06.2022 kl 13:40
5821
Hvorfor du si under krona etter sommeren cph??
à har tapt ei gru pÄ deg.
Hvorfor har du samme nick?
SĂ„ flaut
à har tapt ei gru pÄ deg.
Hvorfor har du samme nick?
SĂ„ flaut
MC Axel
27.06.2022 kl 13:32
5863
This is better than a lottery ticket, this can give you money tens of times back! đ
Hold buy and get richđ€
Hold buy and get richđ€