Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

May 06, 2011 00:15 ET

QEC: MDDEP Announces Interim Regulations for Shale Gas in Quebec

CALGARY, ALBERTA--(Marketwire - May 6, 2011) -

NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that the Ministry of Sustainable Development, Environment and Parks in Québec ("MDDEP") has announced draft regulations for activities during the strategic environmental assessment of shale gas in the province.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, "These new regulations promoting communication and transparency validate our public relations efforts in Québec over the last year. From publishing fact sheets to conducting town hall meetings, we have been a leader in informing the public about our operations well before the BAPE report was published. In principle we are fully supportive of Government's efforts to learn how shale gas can be developed sustainably for the benefit of all stakeholders in Québec."

The proposed regulations require operators to inform and consult the public prior to commencing operations. Consistent with the recommendations from the BAPE report, to increase the understanding of shale gas in the province, MDDEP may have representatives participate in observing the drilling and completion operations. Operators will also be required to provide MDDEP with technical information including:

  • Drilling and completion methods and technology;
  • Water management programs for drilling and completion operations including flowback analysis;
  • Proposed completion fluid composition and volumes; and
  • Sampling water wells within a one kilometer radius of the proposed operations.

The press release from MDDEP can be found online:
http://www.mddep.gouv.qc.ca/infuseur/communique.asp?no=1855.

In conjunction with its partners and the Québec Oil and Gas Association, Questerre will evaluate the detailed regulations when published to determine its potential impact.

Questerre Energy Corporation is an independent energy company focused on shale projects. The Company is leveraging its expertise to commercialize projects like its Utica shale gas discovery in the St. Lawrence Lowlands, Québec. Questerre is committed to the economic development of its resources in an environmentally conscious and socially responsible manner.

This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including implementation of regulations and fiscal regimes, the results from our horizontal wells and the timing and scope of future operations. Although the Company believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to the Company. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking statements. As such, readers are cautioned not to place undue reliance on the forward looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.

Contact Information

  • Questerre Energy Corporation
    Anela Dido
    Investor Relations
    (403) 777-1185
    (403) 777-1578 (FAX)
    info@questerre.com