In his recent speech, Mr. Bouchard suggested many oil & gas companies would welcome investment from Quebec. This follows the recent suggestion from our independent advisor Mr. Boisclair, that Quebec should invest in locally produced natural gas.
This is a very well timed idea. Recent events have resulted in the value of our investment in Quebec diminishing to zero in the market place. This happened in spite of 10 years of investment by Questerre, achieving successes in a highly risky exploration project.
We’ve been open to a significant Quebec investment for years. I have met Caisse de Depot and other Quebec investment institutions many times over the years. They are familiar with the case.
Assuming the political risk is not too high, today represents an incredible chance for Quebec to invest. Although some remains, much of the technical risk has been taken and solved by entrepreneurs and their partners. The value of their effort, energy, risk and investment over many years is severely discounted (assuming we can agree zero is severely discounted). Quebec is in the very best position to judge the political risk and so it’s a very opportunistic time to invest.
This idea would not only represent great value for Quebecers it could save small local companies who have been hurt most by recent events. I have often thought it’s sad that so many ‘Quebec sole risk plays’ have disappointed the international marketplace. Quite simply this idea could also increase international investor confidence in the entire Quebec resource sector.
Quebec investment? Is tomorrow too soon? Let’s meet in the market.