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CALGARY, Oct. 12, 2016 /CNW/ - Questerre Energy
Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported
today that the National Assembly in Quebec has approved in principle Bill 106,
An Act to implement the 2030 Energy Policy and amend various
legislative provisions. These amendments include the enactment
of the Petroleum Resources Act that will govern the
development of petroleum resources in Quebec.
Michael Binnion, President and
Chief Executive Officer of Questerre, commented, "We are very
pleased that Bill 106 was approved by a majority vote at the
National Assembly. A modern hydrocarbon law is essential for
industry's future investment in the province, and, more
importantly, our social license to operate. This fall, we are
looking forward to the detailed review of the bill and over 80
amendments proposed as a result of the public consultation
process."
Bill 106 has now been referred to the Committee on Agriculture,
Fisheries, Energy and Natural Resources for detailed review. The
Bill may be amended further and returned to the National Assembly
for second reading. For more information on Bill 106, please visit
http://www.assnat.qc.ca/en/travaux-parlementaires/projets-loi/projet-loi-106-41-1.html.
Questerre Energy Corporation is leveraging its expertise gained
through early exposure to shale and other non-conventional
reservoirs. The Company has base production and reserves in the
tight oil Bakken/Torquay of
southeast Saskatchewan. It is bringing on production from its
lands in the heart of the high-liquids Montney shale fairway. It is a leader on
social license to operate issues for its Utica shale gas discovery in the St. Lawrence
Lowlands, Quebec. It is pursuing
oil shale projects with the aim of commercially developing these
massive resources.
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 media release contains certain statements which constitute
forward-looking statements or information ("forward-looking
statements") including the timing of the detailed review of Bill
106 and the proposed amendments this fall. Although Questerre
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 Questerre.
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 information, 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, Questerre 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.
SOURCE Questerre Energy Corporation