Quebec Government tables Bill 69
07 Juin 2024 - 7:00AM
Questerre Energy Corporation (“Questerre” or the “Company”)
(TSX,OSE: QEC) reported that the Quebec Ministry of Economy,
Innovation and Energy (the “Ministry”) tabled in the Quebec
National Assembly Bill 69, An Act to ensure the responsible
governance of energy resources and to amend various legislative
provisions (“Bill 69”). A copy of the legislation is available
online:
https://www.assnat.qc.ca/en/travaux-parlementaires/projets-loi/projet-loi-69-43-1.html.
As reported by the Ministry, the centerpiece of
the proposed legislation is an integrated energy resource
management plan to promote energy development in Quebec. Among
other things, it will establish for electric power and natural gas
markets, policy directions, objectives and targets regarding
supply, energy infrastructure and innovation.
Michael Binnion, President and Chief Executive
Officer of Questerre, commented, “Bill 69 proposes broad changes to
the regulatory framework to better manage the energy supply and
demand imbalance in Quebec. Proposals to streamline approval
processes are very welcome. It has become clear that premature
aggressive electrification is increasing energy costs for Quebecers
and efforts to rebalance electricity and natural gas markets are
needed. Questerre is advancing an application for carbon capture
and storage that will mitigate the emissions from natural gas
consumption.”
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 oil and gas 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
proposals to streamline approval processes, the impact of premature
aggressive electrification on energy costs in Quebec and the need
to rebalance electricity and natural gas markets. 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, 2023, 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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