Québec Superior Court suspends provisions of Bill 21
26 Janvier 2024 - 6:51AM
Questerre Energy Corporation (“Questerre” or the “Company”)
(TSX,OSE:QEC) reported today on the ruling by the Québec Superior
Court (Civil Division) on the Company’s application to stay certain
provisions of the Act ending exploration for petroleum and
underground reservoirs and production of petroleum and brine (the
“Act”), for the duration of the judicial proceedings.
Michael Binnion, President, and Chief Executive
Officer of Questerre, commented, “This exceptional ruling in our
favor preserves our legal rights as we continue to work for a
political and business solution to the situation in Québec. We
remain hopeful for a solution that will materially reduce Canadian
greenhouse gas emissions while improving energy security.”
In the ruling issued yesterday, the Justice
assessed the key criteria for a stay and deemed that our
application met these criteria. This included the existence of a
serious legal matter and the serious or irreparable harm if the
request for a stay is refused.
The Attorney General argued that Civil Code of
Québec and the Québec’s Charter of human rights and freedoms
provisions, while protecting the right to property of citizens and
companies against unreasonable use of Government powers, do not
apply if the Government choses to use those same powers to override
them. The Justice noted that the circular nature of the Attorney
General’s argument gave rise to a serious legal matter.
Mr. Binnion added, “The argument of the Attorney
General is, in effect, that the powers of the legislature are
supreme even over laws intended to limit the powers of the
legislature. This would, in effect, nullify the provisions of the
Civil Code and Charter protecting citizens from abuse of Government
powers. It is a hallmark of constitutional democracies that the
Government has limits on its power and the disguised expropriation
of our assets in Québec should be compensated for.”
Recognizing that this is an exceptional measure,
the Justice also ruled that the judgement be enforced even if the
Attorney General files an appeal, also known as ‘provisional
execution’. He noted that Questerre and the other plaintiffs run
the risk of serious and irreparable harm in the absence of this
order for provisional execution.
Questerre is an energy technology and innovation
company. It is leveraging its expertise gained through early
exposure to low permeability reservoirs to acquire significant
high-quality resources. We believe we can successfully transition
our energy portfolio. With new clean technologies and innovation to
responsibly produce and use energy, we can sustain both human
progress and our natural environment.
Questerre is a believer that the future success
of the energy industry depends on a balance of economics,
environment, and society. We are committed to being transparent and
are respectful that the public must be part of making the important
choices for our energy future.
Advisory Regarding Forward-Looking
Statements
This news release contains certain statements
which constitute forward-looking statements or information
(“forward-looking statements”) including the Company’s views on the
ruling and the Attorney General’s arguments on the power of the
legislature. Forward-looking statements are based on several
material factors, expectations, or assumptions of Questerre which
have been used to develop such statements and information, but
which may prove to be incorrect. Although Questerre believes that
the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them because
Questerre can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Further, events or circumstances may cause actual
results to differ materially from those predicted as a result of
numerous known and unknown risks, uncertainties, and other factors,
many of which are beyond the control of the Company, including,
without limitation: certain other risks detailed from time-to-time
in Questerre's public disclosure documents. Additional information
regarding some of these risks, expectations or assumptions and
other factors may be found under in the Company's Annual
Information Form for the year ended December 31, 2022, and other
documents available on the Company’s profile at www.sedar.com. The
reader is cautioned not to place undue reliance on these
forward-looking statements. The forward-looking statements
contained in this news release are made as of the date hereof and
Questerre undertakes no obligations to update publicly or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
For further information, please contact:
Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com
Questerre Energy (TSX:QEC)
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