Questerre Energy Corp will sue Quebec for a huge amount 😎👏

Elly
QEC 24.06.2022 kl 06:54 30035

https://www.westernstandard.news/alberta/quebec-facing-billion-in-legal-claims-for-o-g-expropriation/article_5a854ec8-f273-11ec-9e34-1b4befa4004f.html

Utica Resources has filed a lawsuit in Quebec's Superior Court seeking compensation of $18 billion claiming Bill 21 "constitutes an attack" on the firm's fundamental rights.

Quebec-based Utica Resources is a company focused on the sustainable development of a diverse portfolio including light oil, natural gas, and renewable energy projects such as hydrogen and CO2 storage.

Bill 21 — introduced in February by Quebec Premier François Legault and passed by the National Assembly in April — bans oil and gas production in Quebec. Utica Resources, in its Wednesday filing, claimed the bill violates the resource development company's right to "the peaceful enjoyment and free disposition of its property" under Quebec's Charter of Rights and Freedoms.

As well, Utica said the expropriation by the Quebec government under Bill 21 also violates the section of the Civil Code of Quebec that states "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."

Utica said it has determined its net present value of future profits, as estimated by a leading expert, at $18 billion, and is seeking Bill 21 be nullified or the firm be compensated at the assessed value.

“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”, said Utica President and 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.”

Lévesque said the Quebec government has been open to the exploration and development of the province's oil and gas resources and has invited firms to do so for many years.

"We acted in good faith, found local and foreign investors and respected all of Quebec’s regulatory requirements," said Lévesque.

"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, and our European allies who desperately need our gas, and even for the environment.”

Lévesque said if the expropriations are upheld by the Court, it would mean 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's lawsuit challenging the legislation included in Bill 21 — which has yet to be enacted — is one of several lawsuits being brought against the Quebec government. In May, Calgary-based Questerre Energy, also filed a statement of claim against the legislation.

Michael Binnion, CEO of Questerre Energy, told the Western Standard their claim is seeking damages in an amount to be determined at trial, but suggested it will also be in the tens of billions to represent fair value compensation.

Binnion said his company has more than a thirty-year history in the natural gas industry in Quebec and in 2008 drilled a discovery well with 21 trillion cubic feet of gas resources on the company's 1 million acres of land in the province.

"It is by far the largest gas field in North America," said Binnion.

He said Questerre has entered into several different license agreements with the Government of Quebec over the years and has invested roughly $160 million on its contracts and exploration.

"Quebec receives $13 billion in equalization payments yet they won't let an Alberta company develop the gas they have found," said Binnion.

"And, adding injury to injury, they have expropriated our ability to develop our gas resources without fair compensation."

He also said he finds an issue with Alberta treating Quebec companies with trade fairness and investor protections," yet Quebec does not do the same for Alberta companies.

Binnion said he is aware of several other oil and gas companies that plan to also sue the Quebec government for fair-value compensation.


"It is by far the largest gas field in North America" 🚀🚀🚀🚀🚀
Redigert 24.06.2022 kl 06:57 Du må logge inn for å svare
1013
24.08.2022 kl 22:05 3848

har hørt at qec skal i retten den 23 september 2022
6710
24.08.2022 kl 22:08 3828

Er det ikke normal praksis, man oplyser om at man har stoppet Bill 21, eller QEC skal i retten ?
Uanset skal vel Quebec melde ud at loven er sat på vent, indtil retten har vurderet om Bill 21 skal stanses og afprøves i retten eller træde i kraft.
Er der sat en tidsrum for udmelding for rettens beslutning angående dette, eller afventer QEC svar på dette?
Virker så tys-tys, ingen ved om Bill 21 olie&gas er aktiveret eller sat på stop. Ingen skriver om det... Sker der noget bag kulisse, som ligger bag dagens pm fra QEC...
Redigert 24.08.2022 kl 22:10 Du må logge inn for å svare
uptrade
24.08.2022 kl 22:35 3640

Er nok utsatt, og det ser vi på kursen.

Ingen av våre olje kolleger har meldt om spikeren på kisten idag.
Så det blir noen spennende uker foran oss.

I tillegg, vi ser hvem som har posisjonert seg igjen på trådene.. 😉

Fornuften seirer muligens til slutt, blir en spennende høst! Som Domus skrev for noen dager siden, alt er ikke skrevet i stein…Jeg sa / skrev at jeg trodde det var 5% sannsynlighet for at loven ikke ble implementert, ref pga strid om lovlighet samt ikke minst hele verden har forandret seg dramatisk siden forbudet ble foreslått. Gigantisk erstatning som er alternativet vs hjelpe seg selv med gass + Europa mfl, ja om de opprettholder forbudet og påfører skatte betalerne gigantisk erstatning vs enorme inntekter, ja hva sier befolkningen da? Hvem stemmer på slike politikere? Hva sier da Tyskland og Europa som skriker etter energi? «Alle» vil gjøre seg uavhengig av Russlands olje/gass osv osv…Så mye tyder nå på at det jobbes hektisk i kulissene både her og der….
Redigert 24.08.2022 kl 22:41 Du må logge inn for å svare
6710
24.08.2022 kl 22:50 3504

“Jeg sa / skrev at jeg trodde det var 5% sannsynlighet for at loven ikke ble implementert”

5%. Er det tal steget, syntes du?
Jeg er spændt på hvad som kommer her...

Jeg og sikkert mange andre vil gerne have en klokkeklar bekræftigelse på om Bill 21 er blevet stoppet/udsat eller sat i kraft.
Redigert 24.08.2022 kl 22:53 Du må logge inn for å svare

Ja, håpet stiger selvfølgelig nå som forbudet pt. ikke er bekreftet👍👍
njn-
24.08.2022 kl 23:36 3213

Retten tar over når regjeringen har kapitulert, eller rettere sakt.
Bill 21 må først opp i parlamentet for RATIFISERING. (Godkjenning)
De kan også sette den på vent eller slette den.
Hvis den blir vedtatt kommer rettsvesenet inn, med alle tvister.
Men der er vi ikke ennu.
Trodde du kunne saksgangen!
Redigert 25.08.2022 kl 00:02 Du må logge inn for å svare

Kikket litt på regnskapet.
Bokførte verdier er rundt 2,8 kr pr aksje der quebec gass er ført til 0 i verdi i regnskapet.
Questerre kan i dagens marked med andre ord fint stige til 5-6 kr basert på dagens produksjon og verdier.
Med andre ord. Den er ekstremt billig på 2-2,8
Elly
25.08.2022 kl 06:43 2752

Vi kommer til at se 3 NOK ret hurtigt og efterfølgende skal 5-6 NOK nok komme i løbet af året, når værdierne med de tornhøje priser på gas prises ind.
Redigert 25.08.2022 kl 06:43 Du må logge inn for å svare
Prewia
25.08.2022 kl 08:41 2401

Känns lite RAK wibbar över detta, stora värde som marknaden inte bryr sig om,
1013
25.08.2022 kl 08:54 2273

cash flow de næste 12 måneder minimum 270 millioner norske. nye brønde primo 2023, aktien burde minimum koste 5 norske.

Spenningen stiger!
Gevinstsikring eller videre opp? Pretrade foreløpig på uendret
Nummer20
25.08.2022 kl 09:20 2044

Etter mitt syn bør man ikke vurdere gevinstsikring før den fyker over kr 4. Men daytrading samt tidligere skuffende erfaringer med denne aksjen vil nok gjøre at det vil være gevinstsikring på vei oppover.

Hvis Equinor prises til 40 ganger normal inntjening, hvorfor skal ikke QEC prises til i alle fall 10 ganger normal inntjening? Som fremover vi være (forutsetter en mer normalisert olje- og gasspris på CAD $ 90 pr boe): 10 mill CAD $ pr kvartal (med 2500 boe/d og netback på 45 CAD $ pr boe). Dette burde da gi en pris på kr 7 pr aksje. Uten Quebec, uten erstatning, uten Green Leaf.

Jeg ser ikke helt nedsiden i det korte bildet
Redigert 25.08.2022 kl 09:25 Du må logge inn for å svare
MC Axel
15.09.2022 kl 00:12 1159

It is not impossible that we will see QEC above 30 NOK again!


This should strengthen the QEC case against the Quebec government that they stand together and assist First Nations and others!

If the Legault government chooses to ignore First Nations rights, everyone in the world will judge them to be racist


Pursue law suit against Government of Quebec for full fair
value

• Assist partners including First Nations in protecting their rights


https://newsweb.oslobors.no/message/571230
Redigert 15.09.2022 kl 00:16 Du må logge inn for å svare
B-Man
15.09.2022 kl 00:28 1115

Definitivt bull i aksjen-blir spennende i morgen, dagene og ikke minst ukene som kommer.
MC Axel
22.09.2022 kl 09:24 371

Tomorrow is the 23rd and we should have news regarding the compensation case! 😁
tuja
22.09.2022 kl 09:31 340

Government making application to group all claims together for a
summary dismissal – hearing on September 23 2022
Expert witness report on damage valuation to be submitted this fall
MC Axel
22.09.2022 kl 09:35 316

tuja👍

They have a solid case, so I am 100% sure that the case will begin soon unless a settlement is reached, as in the Anti Costa case. The question then is how much they get in compensation (the ekproptionslaw says fair value)