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May 6, 2019 – Questerre updates progress on Clean Tech Energy research in Quebec
Calgary, Alberta — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) updated the progress on its clean tech energy research project to produce energy with near zero emissions, zero use of toxic fluids below ground and zero use of drinking water. If successful it will be world leading and a complete game changer for the environment, for society and the economy.
Michael Binnion. President and Chief Executive Officer of Questerre, commented, “Some say our goals of clean tech energy production are impossible. I say to achieve the impossible we have to have a new way of thinking.”
Questerre is working collaboratively with all stakeholders to achieve these aspirational goals. Recent history has shown that traditional oil and gas development and old approaches to sustainability are not socially acceptable in Quebec.
The Company has listened to stakeholders and communities’ concerns about climate, health, water and noise impacts. It believes that incremental improvements on the old technologies and processes proposed almost ten years ago are not sufficient to secure the social acceptability needed. A genuine approach to sustainability that balances people, planet and profit is the only way forward in today’s world. Questerre continues to consult with interested stakeholders on innovation, approaches, and ideas to create a socially acceptable approach.
Questerre has submitted a request to the Government of Quebec to consider a science-based research project for clean tech energy production. This research would be into new processes and clean technologies that could achieve near zero emissions energy production on an economic basis. The research would assess not only the viability but also different methods to apply dozens of new technologies in one comprehensive process. In light of recent comments in the media, Questerre confirms that it is not in discussions with the Ministry of Energy and Natural Resources in Quebec relating to a development project.
Questerre 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 natural gas discovery in the St. Lawrence Lowlands, Quebec. It is pursuing oil shale projects with the aim of commercially developing these significant 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.
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
Advisory Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively “forward-looking statements”) within the meaning of applicable securities laws. In particular and without limitation, this news release contains forward-looking statements concerning:. The Company’s views that if successful, the Company’s clean tech energy project would be a world leading, game changer for the environment, society and the economy, the Company’s belief that traditional oil and gas development and old approaches to sustainability are not socially acceptable in Quebec, its belief that incremental improvements to old technologies and processes are insufficient to secure social acceptability required and its belief that a genuine approach to sustainability that balances people and the planet and the profit is the only way forward. Forward-looking statements typically uses words such as “anticipate”, “believe”, “project”, “expect”, “goal”, “plan”, “intend” or similar words suggesting future outcomes, statements that actions, events or conditions “may”, “would”, “could” or “will” be taken or occur in the future.
Forward-looking statements are based on a number of material factors, expectations or assumptions of the Company which have been used to develop such statements and information but which may prove to be incorrect. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company 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. Additional information regarding some of these risks, expectations, assumptions and other factors may be found in the Company’s Annual Information Form and Management’s Discussion and Analysis prepared for the year ended December 31, 2018. 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 the Company 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.