QEC - Utica Resources sues the Quebec government for $18 Billion

This will in theory price the QEC share to a couple of hundred NOK😁🚀🚀🚀

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


Bill 21 constitutes an attack on Utica Resources’ right to “the peaceful enjoyment and free disposition of its property“, 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 “No 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.”

“We 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 properties”, declared Utica’s CEO, Mario Lévesque. “A leading independent expert has concluded that Utica’s 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.”

“For years, the Quebec government had invited us and others to invest in order to explore and extract Quebec’s oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebec’s 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.”

If the government’s 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. Legault’s claim that “Quebec is not a banana republic” and Invest in Canada‘s claim that “Canada is the best country for global investment.  Period. “

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.

Redigert 22.06.2022 kl 22:03 Du må logge inn for å svare
15.07.2022 kl 20:38 2874

Det er for at vi positive har satt oss inn i vilke verdier selskapet har.
Kritiske ord er på sin plass når det er noe og kritisere.

Ha en fortsatt finn og avslappende sommer.
15.07.2022 kl 20:41 2868

Og hva er galt med det?
Negative mennesker har en tendens til å kritisere alt som er positivt.
De har det ikke lett.
15.07.2022 kl 22:11 2766

Les de siste innleggene, Upup. Bærer de ikke preg av fornøyde aksjonærer ?
Redigert 15.07.2022 kl 22:22 Du må logge inn for å svare
16.07.2022 kl 13:08 2437

Noen er kritiske, andre ser det som en meget god kjøpsanledning. Slik vil det alltids være. Jeg er nok i kategori 2. Fortsatt god helg.


Tuja - enig, var godt å få lastet mer i går til snitt 1,50😀
Fortsatt god sommer☀️
MC Axel
18.07.2022 kl 09:41 1995

It's like it's going to be a lawsuit and it's it. QEC and the other companies have a strong case, Quebec itself has encouraged them to invest in their region

It will be an election in October, which may again change everything about Bill21

QEC has written down Quebec to zero a long time ago and is therefore priced in

And oil is above 100 again 😁
18.07.2022 kl 12:24 1821

Seems like someone wants the market to think Questerre is operating with Quebec on the balance sheet. Like you said, both Quebec and the producing assets were devalued during the covid-pandemic and fall in prices. The commodity prices have since recovered but the balance sheet has not been updated to reflect this. Greatly anticipating the Q2 report.
18.07.2022 kl 12:47 1766

Ta deg sammen mann,her er bare å grabbe tilseg det man har råd til 🤑🤑🤑🤑🤑🤑🤑🤑
MC Axel
14.02.2023 kl 15:28 524

I wrote this yesterday, but it is extremely relevant to the QEC lawsuit against Quebec and it looks like the trial will begin soon. Otherwise, it is rumored that the Quebec government is starting to waver regarding LNG, exciting

According to Altai resources announcement 4 days ago

The Honourable Philippe Cantin, J.S.C. has been appointed as case management judge to jointly manage the legal proceedings filed by Altai and other holders of licences that similarly contest the validity of the Act.