Questerre Energy Corporation has executed a definitive purchase and sale agreement with a senior exploration and production company to acquire all their assets in Quebec. This follows the letter of intent signed in early 2018 as set out in the Company's press release dated June 4, 2018.
Questerre Energy Corporation reported that the Government of Quebec announced its plans to officially implement or put into practice the Petroleum Resources Act. The Act will govern the development of hydrocarbons in the province of Quebec.
Quebec's Ministry of Energy and Natural Resources has published its proposed regulations to govern oil and gas activities within the province. The draft regulations are required for the implementation of the Petroleum Resources Act, which was enacted as a result of the adoption of Bill 106, An Act to Implement the 2030 Energy Policy and to Amend Various Legislative Provisions in December 2016.
A contentious bill that may expand the opportunities for oil and gas exploration in the province of Quebec has passed the National Assembly.
Questerre Energy Corporation has been recognized as the top publicly traded emerging producer by the Explorers and Producers Association of Canada ("EPAC") for 2015.