QEC - Annual / Q - Reports

minsin
QEC 24.03.2023 kl 04:43 48014


Annual 2022 :

Operating & Financial

With three (0.75 net) wells brought on production at Kakwa Central this year, our volumes increased over the last year. The higher volumes also reflect the conversion of the Kakwa North royalty interest into a working interest in the fourth quarter. Higher prices generated adjusted funds flow from operations of $26.3 million. Net of capital investment of $11.6 million in 2022, this resulted in a working capital surplus of $24.5 million. This surplus also includes the refund of $7.7 million in restricted cash from the Quebec Government. Pending a ruling on our claim to have Bill 21 declared invalid, we are segregating these funds internally as we are responsible for reclamation costs under the pre-existing regulations in Quebec.

We only participated in one (0.25 net) of the two (0.50 net) wells drilled by the operator at Kakwa Central this winter. The expected return on our capital for the second well was challenged by lower commodity prices, inflation in well costs and their proposed completion design that might not maximize recoveries. As a result, we expect our production will experience natural declines this year prior to the commencement of the Kakwa North drilling program of up to three (1.5 net) wells late this fall.

Outlook

With our current liquidity, we are well positioned to participate in the proposed drilling at Kakwa North. If the operator drills three (1.5 net) wells, we could see our production materially increase in the second half of next year by over 1,500 boe/d.

We have redoubled our efforts in Quebec. As we follow the legal process, we have met with several European countries on how our project can provide near-zero emissions natural gas delivered through a permitted LNG export facility in Quebec to improve their energy security. We have encouraged them to engage with the Quebec Government on a path forward. We have discussed with Government of Quebec and local business and other groups how our project could be a solution to their energy crisis. Though the timeline and outcome of these initiatives is far from certain, we remain committed to crystallizing value for our discovery. We have also made significant progress with our high impact projects in the Kingdom of Jordan and Utah. Our future is now less dependent on the Quebec Utica.

Highlights
• Strong financial position with a working capital surplus of close to $25 million and an unutilized credit facility of $16 million
• Conversion of royalty interest in Kakwa North farm-in wells add 700 boe/d in the fourth quarter
• Government of Quebec enacts Bill 21 to revoke oil and gas exploration licenses
• Before tax NPV-10% of total proved and probable reserves unchanged at $270 million even with a 10% decrease in volumes to 30 MMBoe
• Average daily production of 1,714 boe/d and adjusted funds flow from operations of $26.3 million

Outlook

With our current liquidity, we are well positioned to participate in the proposed drilling at Kakwa North. If the operator drills three (1.5 net) wells, we could see our production materially increase in the second half of next year by over 1,500 boe/d.

We have redoubled our efforts in Quebec. As we follow the legal process, we have met with several European countries on how our project can provide near-zero emissions natural gas delivered through a permitted LNG export facility in Quebec to improve their energy security. We have encouraged them to engage with the Quebec Government on a path forward. We have discussed with Government of Quebec and local business and other groups how our project could be a solution to their energy crisis. Though the timeline and outcome of these initiatives is far from certain, we remain committed to crystallizing value for our discovery. We have also made significant progress with our high impact projects in the Kingdom of Jordan and Utah. Our future is now less dependent on the Quebec Utica.

https://newsweb.oslobors.no/message/586065
Redigert 10.05.2023 kl 15:23 Du må logge inn for å svare
googleearth11
31.03.2023 kl 14:25 8977

Jeg er uansett kun ute etter trend, og da er Bloomberg mye raskere enn andre nettsteder, inkl TXS.
Peter Sellers
31.03.2023 kl 14:33 8952

@Sveinung takk da er jeg ferdig med saken, ha en fin dag og God Påske!! Ps, for fremtiden ikke kall andre for idioter da er vi heller enige om at vi er uenige, punktum!
sigj2
31.03.2023 kl 15:45 9659

Var dødt i dag ,gøyere når det er fart i gåsa 🦅🦆🦢
minsin
31.03.2023 kl 16:08 9590

Aksjen er uansett på nivåer som før Annual report - dvs markedet er ikke misfornøyd

Tvert imot mener jeg det var i grunnen en knall bra rapport- økt produksjon(1500 boed) kan ventes inneværende år , i forhold til Q3 , Redleaf er visstnok "on track", og potensialet vil synliggjøres før mine beregninger ( 2024)

Volumene i Canada - indikerer noe økt interesse for aksjen

1013
31.03.2023 kl 17:23 9481

Hvad med din spådom om indsiderkøb?
Jensi
31.03.2023 kl 18:24 9469

Jeg er 100% sikker på at vi hører nyt fra red leaf . Før quebec
Tror mere på cadet og de driftige amerikanere i Utah
tynnidioten
31.03.2023 kl 18:53 9494

Du har rett i at aksjen er på nivåer som før Annual report (8 øre lavere)
Men du glemmer er at oljeprisen og børsen har løftet seg markant etter rapporten.
I mitt (forvirrede) hode har aksjen vært svak.
Mulig det er sterkt at den ikke har falt mye mer.
Det er helt utrolig hvordan denne aksjen snakkes opp.
Redigert 31.03.2023 kl 18:54 Du må logge inn for å svare
Stock Walker
31.03.2023 kl 18:56 9562

"....økt produksjon(1500 boed) kan ventes inneværende år ,"
Eneste problem er at Qecs prognoser historisk sett aldri har slått til fordi selskapet ikke har kontroll over samarbeidspartnerne som sitter med operativansvaret og handler som det passer dem best. Det fikk vi nok en gang sett et eksempel på ved siste presentasjon.
Fjellbris
31.03.2023 kl 19:24 9650

Ja, skjønner godt du er forvirret i hode ditt Tynnidioten, du som snakker ned og er negativ til QEC konstant, også som i går før du solgte «trading potten» din på 1,82. Jeg bare lurer på hvor mye negativt du skal poste før du skal selge hovedposten din?🤔 Du skriver videre i ditt innlegg her « Det er helt utrolig hvordan denne aksjen snakkes opp.» Jeg mener heller «det er er helt utrolig hvordan denne aksjen snakkes ned».
Redigert 31.03.2023 kl 19:27 Du må logge inn for å svare
tynnidioten
31.03.2023 kl 19:38 9625

Kan du gi et eksempel på at jeg har «snakket aksjen ned».
Mitt inntrykk er at man er negativ hvis man ikke er med på hausingen.
Stock Walker
31.03.2023 kl 20:28 9492

Kanskje ikke du leste hva vi andre fikk med oss?
We only participated in one (0.25 net) of the two (0.50 net) wells drilled by the operator at Kakwa Central this winter. The expected return on our capital for the second well was challenged by lower commodity prices, inflation in well costs and their proposed completion design that might not maximize recoveries."
1013
31.03.2023 kl 20:58 9423

Ved du hvorfor Qec valgte kun den ene brønd?
Stock Walker
31.03.2023 kl 21:32 9348

Du har nok misforstått. Qec er ikke prod.ansvarlig og har null innflytelse på hvilken brønn som blir valgt. Men pepper' er at Qec nok en gang bommet på sitt prod.mål.
1013
31.03.2023 kl 21:37 9328

Jeg kender Qec bedre end du kan jeg læse. det var et godt valg kun at deltage i en brønd der. afkaster var for lille. så er det meget bedre at bruge pengene med den anden partner hvor det er meget billigere at bore nye brønde.
minsin
10.05.2023 kl 19:55 7834

Dagens børsverdi : 94 mill Cad

Shareholders' Equity as per 31.12.22 : 166 mill Cad
Working Capital 31.3.23 prox/est 30-32 mill Cad

Ca 1/3 del av selskapets aksjeverdi ligger i kontantbeholdningen.

Hvor galt kan det gå i Q1 - selv om produksjonen og inntektene har sviktet litt ??
Fokus mot Q1 vil nok være hva vi kan forvente rundt Bill 21 og ikke minst Utah.

Utifra det MB sa under presentasjonen i Oslo tidligere er jeg nok mest spent på Utah - føler det er på høy tid med litt "kjøtt på beina" i den saken.
Pluss om MB/ Q1 kommer med erstatnings estimat- beregningene bør være ferdige nå, og videre saksgang i saken.





Redigert 10.05.2023 kl 19:58 Du må logge inn for å svare
minsin
09.08.2023 kl 22:39 7168

Ja Gutta og piger hva kan forventes??
Q2 kommer vel i natt i 4-5 tia
tuja
09.08.2023 kl 23:31 6980

Kommer vel ikke før i morgen kveld, fram mot midnatt.
minsin
10.08.2023 kl 00:05 6830

Hehe Bomma litt , nå når jeg sjekka ... vet ikke hvorfor jeg tak feil.
Får skylde på mye og gjøre & ferie modus

Uansett godt at jeg får ett døgn til å studere litt rundt aksjen
unikum
10.08.2023 kl 00:32 6770

God tid til å handle med armer og bein i morgen. Det kan anbefales!
TrumpGold
10.08.2023 kl 08:54 6433

Historikken viser at de fleste kvartalspresentasjoner blir mottatt med et skuldertrekk i markedet og ofte påfølgende kursfall.
googleearth11
10.08.2023 kl 09:07 6344

Virker som om det er litt mer forvetninger nå. I alle fall endel som vil inn nå.
sigj2
10.08.2023 kl 09:19 6249

Var frisk idag sålangt,jeg liker det jeg ser 🤑
TrumpGold
10.08.2023 kl 09:21 6230

Stor kjøpsinteresse igjen i Qec
Det evige dilemma i aksjen, er det reelle godnyheter på gang eller er det nytt pump&dump?
googleearth11
10.08.2023 kl 09:26 6155

Dette er forventninger. Pump & dump kommer sjelden i forbindelse med kvartalstall. Volumet er dessuten for høyt til at dette er P&D.
Redigert 10.08.2023 kl 09:48 Du må logge inn for å svare
Yzf R1
10.08.2023 kl 09:38 6064

Omsatt for 3mil på 30minutt er veldig bra .
Peter Sellers
10.08.2023 kl 10:35 5754

@Yzf R1, la oss håpe nå at vi kan hele veien opp til 2kr ilp av noen uker og etablere oss slik at vi ikke får flere slike dupp som etter forrige melding!
NA2
10.08.2023 kl 10:41 5701

Håper vi nå endelig kan si farvel til ørkenvandringen Googleearth, det hadde vært flott med et skikkelig løft nordover.
Peter Sellers
10.08.2023 kl 11:35 5371

googleearth11 skrev Enig
@ge11, så flott at vi kan være enige for engang skyld!
Kan vi ikke heller for framtiden være enige om at vi er uenige istedenfor å rakke ned på hverandre! Håper vi kan respektere at vi er forskjellige og har forskjellig syn på Qec fra tid til annen uten at vi må "disse" innlegg med noe ubehagelig dritt!! Ha en fin dag ge og jeg håper alle som har aksjer i Qec kanskje går mot litt lysere tider for det har det ikke vært mye av det siste halvåret:))
Billyjojimbob
10.08.2023 kl 12:13 5183

Er det dags for fet reprising ?
kiza42
11.08.2023 kl 00:47 4404

Da er rapporten lagt ut:
https://newsweb.oslobors.no/message/596563

President’s Message
Quebec is holding public consultations on a hydroelectricity shortage in the next two to three years. We are re-engaging with the Government on how our Clean Gas could be part of the solution. Our scalable, shovel- ready project can help mitigate the risks of curtailments and price spikes, all while retaining Quebec’s competitiveness in attracting new industries and helping meet their GHG emissions reductions targets. The Government of Quebec also proposed a stay of enforcement related to Bill 21. There is a hearing scheduled this October to extend this stay.
Red Leaf also advanced both their technology and their permitted wax processing facility in the Uintah Basin in Utah during the quarter. A pre-FEED study on the facility was completed and includes a Class IV capex estimate as well as an estimate to incorporate carbon capture directly in the design. Collaborating with local Jordanian companies, Red Leaf also began the design for a scaled version of their commercial production facility.
Highlights
• Hearing to suspend revocation of licenses under Bill 21 in Quebec scheduled for October 2023
• Red Leaf completes pre-FEED study for wax processing facility in Uintah Basin, Utah
• Average daily production of 1,978 boe/d with adjusted funds flow from operation of $5.3 million
In May, at a speech to the Montreal Chamber of Commerce, Minister Fitzgibbon commented that Quebec’s (hydroelectric) surpluses have ‘melted like glaciers’ and that ‘for the next ten years, it will be tight and choices will have to be made. ’The state-owned utility, Hydro-Quebec, in its 2023-2032 Supply Plan confirmed that surpluses will be depleted after 2026. It further notes it will need more than 100 terawatt hours – more than half its annual generating capacity – to reach the province’s goal of being carbon neutral by 2050.
The public hearings on clean energy development in Quebec are to assess possible solutions including new wind turbines and additional dams which, as Minister Fitzgibbon noted, ‘can easily take 10-15 years’. The Government was focused on energy conservation. In the meantime, residential and industrial consumers could experience price spikes during peak demand periods. Demand would need to be curtailed if additional electricity cannot be imported or alternatives such as natural gas sourced, particularly in the event of a natural disaster or other catastrophe.
Our Clean Gas discovery could help fill this gap, providing a standby source of power during peak demand. As an example, an under-utilized gas power plant in the Becancour area, adjacent to our lands, was used nearly 20 times during the winter of 2021-2022 to meet power needs during peak periods. Clean Gas could also provide power to support the growing energy needs of new industries like battery manufacturers and is a more efficient and inexpensive source of heat for industrial consumers. Moreover, when the market and infrastructure develop in the future, it can produce zero-emissions hydrogen as well.
It also has the potential to match the scale of large hydroelectric dams. We estimate our multi-Tcf natural gas discovery could contain as much energy as several decades of output from Churchill Falls, the second
2023 Second Quarter Report 1

largest hydroelectric dam in Canada. If the gas was used to generate electricity, it could produce as much energy for 60 to 90 years.
As we ramp up our government relations efforts, we responded to the Government’s request for pilot projects to fight climate change. We recently presented our application that was originally submitted nearly two years ago. The application is to test the carbon storage potential of a sub-surface formation covered by our licenses.
Concurrently, we are continuing to protect our legal rights. In June, the Justice agreed to defer a ruling on the Attorney General’s motion to dismiss our claims until a hearing on the merits of our case next year. This deferred ruling will follow the upcoming hearing this October related to suspending certain elements of Bill 21 including the requirement to abandon wells, provide proprietary data to the Government of Quebec and, most importantly, the revocation of our licenses. We are also updating our damages report to assess several scenarios including the value to the Government of Quebec if it developed our discovery on its own.
We were pleased to see Red Leaf begin to engineer the design of a small-scale commercial project for a group of local companies in Jordan. This would be the first demonstration of this technology and among the first of its kind to produce oil at scale and on a continuous basis. We look forward to working with them and leveraging their local expertise that includes engineering design and fabrication capability to reduce overall costs.
There remains strong interest by lubricant manufacturers in the base oil feedstock from Red Leaf’s proposed wax processing facility. In addition to securing offtake agreements with these manufacturers and supply contracts from producers, we also need to engage a qualified engineering firm to manage the construction risks. While the business case remains robust, we are looking for a strategic partner as this is a complex downstream market opportunity. This will also be important to secure project financing.
Operating & Financial
Production volumes averaged 1,978 boe/d for the quarter (2022: 1,909 boe/d) with one (0.25 net) Kakwa well on-stream and 1,884 boe/d for the first half of the year (2022: 1,600 boe/d). With a 30% reduction in realized prices, operating netbacks reduced by 50% to $34 per boe compared to $76 per boe last year. This contributed to adjusted funds flow from operations of $5.3 million for the quarter (2022: $12.2 million) and $9.6 million year to date (2022: $16.5 million).
Net of capital expenditures of $2.5 million in the quarter (2022: $2.8 million), our working capital surplus was $28 million at the end of the period including $35.2 million in cash and equivalents.
Outlook
A strong cash position and our undrawn credit facility are essential to fund future drilling at both Kakwa joint ventures, subject, of course, to commodity prices. We could see up to three (0.75 net) wells spud at Kakwa
2 Questerre Energy Corporation

Central this fall and up to three (1.5 net) at Kakwa North in late 2024 or early 2025. We have also segregated $7 million of our available cash to fund abandonment liabilities in Quebec.
We are still working towards a business and political solution in Quebec. We are hopeful that the Government engages with us on a path forward. But we are mindful they could choose a different course, and sidestep our project, and risk the impact to their economy. To this end, our legal claim allows us to keep all options open towards realizing the ultimate value of our discovery.
Michael Binnion
President and Chief Executive Officer
fervex
11.08.2023 kl 08:31 3969

Det blir vanskelig å tolke denne rapporten negativt. Jeg tror vi skal sidelengs eller kanskje til og med litt opp!
TrumpGold
11.08.2023 kl 08:37 3925

Basert på historikk...ikke undervurdere markedets evne til å tolke informasjon fra Qec negativt.

Time Will show!
Fjellbris
11.08.2023 kl 08:39 3905

10. aug., 22:53|Lene Marita Berg Hermann
Questerre gjenopptar kontakt med Quebec som løsning på ventet kraftmangel
Quebec i Canada gjennomfører for øyeblikket offentlige konsultasjoner om en hydroelektrisk kraftmangel i området de neste to til tre årene.

Det kanadiskbaserte olje- og gasselskapet Questerre opplyser i sin andrekvartalsrapport for 2023 at selskapet vil gjenoppta kontakten med regjeringen angående hvordan selskapets rene gass kan være en del av løsningen.

Selskapet hadde en daglig produksjon på 1,978 boe/d (oljeekvivalenter per dag) i andre kvartal. Den justerte kontantstrømmen fra driften var på 5,3 millioner dollar, opplyser selskapet i rapporten.

Aksjen steg fem prosent torsdag og ble handlet til 1,73 kroner aksjen ved børsstenging. Kun på den siste uken har aksjen steget med nær 10,6 prosent. Selskapet er verdsatt til 742 millioner kroner.

https://www.dn.no/investor/nyhetsstudio/136689
Redigert 11.08.2023 kl 08:41 Du må logge inn for å svare