QEC - Utica Resources sues the Quebec government for $18 Billion

MC Axel
QEC 22.06.2022 kl 22:02 42635

This will in theory price the QEC share to a couple of hundred NOK😁🚀🚀🚀

Quebec Gets Sued: Bill 21: Utica Resources sues the Quebec government for $18 Billion for violating Article 6 of the Quebec Charter of Rights and Freedoms - Energy News for the Canadian Oil & Gas Industry

energynow.ca

Bill 21 constitutes an attack on Utica Resources’ right to “the peaceful enjoyment and free disposition of its property“, a fundamental right protected by the Quebec Charter of Rights and Freedoms (Article 6) and section 952 of the Civil Code of Quebec, which states that “No owner may be compelled to transfer his ownership except by expropriation according to law for public utility and in return for a just and prior indemnity.”

“We will defend our rights so that this disguised expropriation, the public utility of which does not exist, is compensated at the fair value of our properties”, declared Utica’s CEO, Mario LĂ©vesque. “A leading independent expert has concluded that Utica’s properties would generate $67 Billion in future profits (net value of recoverable resources in place), the equivalent of $18 Billion in net present value using the discount rate of the Court.”

“For years, the Quebec government had invited us and others to invest in order to explore and extract Quebec’s oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebec’s regulatory requirements. Then from one day to the next, the government changed its mind for political reasons and effectively expropriated our properties without proper prior compensation. Bill 21 is completely irresponsible and without logic in all regards and goes against the will of a significant majority of Quebecers. It is bad for Quebec, our European allies who desperately need our gas and even for the environment.”

If the government’s actions were to be upheld by the Court, it would mean that there are no property rights in Quebec and Canada. The province and the country would become un-investable and make a mockery of Mr. Legault’s claim that “Quebec is not a banana republic” and Invest in Canada‘s claim that “Canada is the best country for global investment.  Period. “

Utica Resources is a Quebec company whose mission is to participate in the energy transition currently underway by developing a diversified portfolio that includes, in addition to light oil and natural gas, renewable energy projects such as hydrogen and CO2 storage. All our projects are carried out with a view to sustainable development, optimal use of available resources, respect for host communities and maximization of local economic benefits.

https://energynow.ca/2022/06/quebec-gets-sued-bill-21-utica-resources-sues-the-quebec-government-for-18-billion-for-violating-article-6-of-the-quebec-charter-of-rights-and-freedoms/?amp
Redigert 22.06.2022 kl 22:03 Du mÄ logge inn for Ä svare
Slettet bruker
28.06.2022 kl 19:24 4155

Lad os som sagt se, hvem der ler sidst 😉 Uanset hvad kursen gĂžr i morgen eller nĂŠste uge, sĂ„ peger pilen op for QEC og vi er nu laaaaaaangt vĂŠk fra 0,50 NOK 😂
Slettet bruker
28.06.2022 kl 19:12 4169

Ja sikkert, fĂžlger nok etter det vi ser i Canada i kveld som du sier đŸ˜łđŸ«Ł
Slettet bruker
28.06.2022 kl 19:09 4173

GĂ„r bra i Toronto for dere som er opptatt av det.
OPC1000
28.06.2022 kl 19:02 4191

Skal den ikke under 1?
Har du ombestemt deg ?
Carlsen73
28.06.2022 kl 18:58 4207

Det er en relativt ligegyldig detalje. Men hos mig siger kursen altsÄ 1,95.
Cph2500
28.06.2022 kl 18:43 4269

& now 1,94
Later 1- 1,50
👍 nkr
đŸ€Ł
Jensi
28.06.2022 kl 18:11 4341

First 3.-
Then 30.-
then 300 !!!!
👍đŸ’Č
sigj2
28.06.2022 kl 16:43 4482

Hehe sutrekoppen eier ingen skam 🙈
OPC1000
28.06.2022 kl 16:25 4552

Da har vi ventet og sett (jeg tar det pÄ norsk).
Vi venter alle spent pÄ din (bort) forklaring ?
Blir du aldri flau ?
mofi1
28.06.2022 kl 09:52 3319

AngÄende stÞrrelsen pÄ erstatningen er sannsynligheten for hvilken lovanvendelse som vil kunne komme til anvendelse, helt avgjÞrende. Siden Utica Resourses leder an blir det svÊrt spennende Ä se hva myndighetene svarer og hvordan juristene vurderer dette med f.eks. «Fair value» eller realismen i Ä kunne bli fullt ut kompensert for nÄverdiene i bakken.

Det er interessant at Binnion mener dette er verre enn ekspropiasjon, og kaller det en overtakelse.
Redigert 28.06.2022 kl 10:00 Du mÄ logge inn for Ä svare
MC Axel
28.06.2022 kl 09:31 3397

QEC should be +3 NOK a long time ago, based only on the oil and gas price😁 It will come soon!

And with billions in compensations it hard to say how high 30 NOK
MC Axel
28.06.2022 kl 01:22 3698

I especially like this sentence đŸ€— I hope you all can see the significance in this!!!😁

""""""""""""An unofficial English translation of the 114-page Utica lawsuit documents the role the government played in supporting the exploration activity. In 2019 the province’s energy department boasted about the potential. “Eventual production of hydrocarbons in Quebec would reduce imports and improve the balance of trade. This creation of wealth and jobs could be used to the benefit of Quebecers.”"""""""
MC Axel
27.06.2022 kl 23:56 3775

Utica Resources won their first case in court and I think they will win again, although I think the Quebec government will reach a settlement


The government of Quebec Premier Francois Legault, left, faces a lawsuit for its legislation — Bill 21 — described as an act “to end petroleum exploration and production.” PHOTO BY JACQUES BOISSINOT /THE CANADIAN PRESS

n what is shaping up as the first major legal confrontation over government plans to shut down fossil fuel industries in Canada, Montreal-based Utica Resources this week filed a 114-page suit against the Quebec government demanding $18-billion in compensation.

😁
Another company with major gas reserves in the province, Calgary’s Questerre Energy, is also moving forward with legal action seeking multi-billion-dollar compensation. Michael Binnion, Questerre CEO, describes the Quebec shutdown of fossil fuels as worse than expropriation. “I call it confiscation,” he said in an interview. Statistically, he said, “half the Russian exports of gas to Germany could be replaced by our discovery in Quebec.” He said Questerre holds 21 trillion cubic feet (tcf) in resources. A rough rule is that each tcf is worth $1-billion for a total of $21-billion.

Quebec is fucked!😯

""""""""""""An unofficial English translation of the 114-page Utica lawsuit documents the role the government played in supporting the exploration activity. In 2019 the province’s energy department boasted about the potential. “Eventual production of hydrocarbons in Quebec would reduce imports and improve the balance of trade. This creation of wealth and jobs could be used to the benefit of Quebecers.”"""""""

Backed by activists, the province then abandoned the industry and converted to a full-bore net-zero carbon emissions program. The cost of that conversion could be high if the courts support the legal arguments of the industry. Utica describes the fossil fuel shutdown as a breach of Quebec’s charter of rights and civil code, which requires compensation when property rights are violated.

A good point! 👍

As Levesque put it: “For years, the Quebec government had invited us and others to invest in order to explore and extract Quebec’s oil and gas resources. We acted in good faith, found local and foreign investors and respected all of Quebec’s regulatory requirements. Then from one day to the next, the government changed its mind for political reasons and effectively expropriated our properties without proper prior compensation.”

 
https://stockhouse.com/companies/bullboard/t.qec/questerre-energy-corporation?postid=34785749


Redigert 28.06.2022 kl 01:19 Du mÄ logge inn for Ä svare
OPC1000
27.06.2022 kl 23:20 3880

Hva sier du hvis du tar feil ?
Finner pÄ noe annet vrÞvl.
Slettet bruker
27.06.2022 kl 23:14 3904

Ja, en stigning pĂ„ 40% den sidste mĂ„ned kaldes for “pump & dump” 😂 Du er dummere end pap og det beviser du sĂ„ lige igen 😉👏
Mulla3
27.06.2022 kl 22:41 4064

17% opp i kanada i kvell
Slettet bruker
27.06.2022 kl 22:03 4238

3 NOK er jo nĂŠste stop og du ved det godt 😎 MEN den kom aldrig i 0,50 NOK, som du ellers lovede
.husker du, Steviewonderpick đŸ€·â€â™‚ïžđŸ€©
Redigert 27.06.2022 kl 22:47 Du mÄ logge inn for Ä svare
1013
27.06.2022 kl 21:26 4387

MÄske du skulle sÊtte dig ind i aktien inden du solgte. Rekord indtjening forlig om erstatning. Alt sammen inden for de nÊste 3 mÄneder. Kursen kommer kun til at gÄ en vej og det er op.
Slettet bruker
27.06.2022 kl 21:01 4484

Den skulle jo ikke under 2kr igjen men over 3kr
..husker du Elly 😂
Slettet bruker
27.06.2022 kl 20:48 4513

Ja, som nĂŠvnt tidligere i dag, sĂ„ rammer vi 2 NOK allerede i denne uge og det stopper jo langt fra her. QEC er mĂžgbillig pĂ„ dette niveau og selv XL ved godt, hvad klokken har slĂ„et 😂
sigj2
27.06.2022 kl 20:11 4628

Rammer lett 2kr sooon,ikke hĂžr pĂ„ lĂžgnerne.makan til klovner.đŸ€Ą
IncognitoPamda
27.06.2022 kl 18:06 4939

Mulla3 skrev tjent godt i abt?
Nei. Jeg skulle ha solgt og valgte Ä holde. Den har fÄtt juling over lang tid nÄ. Fikk en Þrliten fortjeneste, men det kan virke som det er en stund til noe skjer der. Tenker meg igjen i lÞpet av Äret en gang.
Slettet bruker
27.06.2022 kl 17:53 4992

Oppe med 20% i Canada nu med hvad der svar til 2.04 NOK pĂ„ Oslo BĂžrsen 👍
IncognitoPamda
27.06.2022 kl 17:49 5007

Jeg har ingenting prinsipielt imot emojier, men den type bruken som "Aksjen skal ned 😂😂😂" gjentatte ganger uten begrunnelse er sĂ„ useriĂžst at jeg sliter med Ă„ forstĂ„ hensikten bak.

Jeg er relativt ny til questerre, men jeg synes den er lovende selv om de ikke skulle fÄ den enorme erstatningen de hÄper pÄ.

Jeg hÄper det blir mer konstruktiv kritikk fremover, men da hÄper jeg kanskje pÄ mye.
OPC1000
27.06.2022 kl 17:43 5032

De som Þnsker aksjen ned ville ikke fremstÄtt sÄ "dumme" hvis ikke aksjen gikk sÄ mye opp.
mundus
27.06.2022 kl 17:27 5099

Enig Z4. Pinlig flaut.
Slettet bruker
27.06.2022 kl 16:30 5258

Rene barnehagen her inne. Flaut.
Slettet bruker
27.06.2022 kl 16:30 5213

Der er ikke meget "pump & dump" over en aktie, som er steget 40% den seneste mÄned, sÄ igen udstiller du dig selv, din klaphat :-)......flot stigning igen i dag iÞvrigt:-)
Nummer20
27.06.2022 kl 15:35 5367

Det er slike verdier jeg mener ikke gjenspeiles i kursen pr nÄ. QEC har vel ikke produsert som i dag og med slike inntekter noen gang. Kontroll pÄ gjeld ogsÄ. Egentlig kan QEC bare lene seg tilbake, produsere 2000+ boe/d (2500 i lÞpet av H2), ta erstatningen, og smile hele veien til banken.
comedian
27.06.2022 kl 14:48 5480

ORLEN’s acquisition of Questerre’s JV partner in October 2015 (WTI USD 46/bbl), valued QEC’s 25% stake alone to NOK 2.0/share (after deducting for net debt).
Todays price @ USD 100/bbl, you do the math!
Cph2500
27.06.2022 kl 13:50 5566

Rolig nu
Sommeren er ikke slut endnu ..
Jeg gentager igen under 1 kr inden sommeren slut..
sigj2
27.06.2022 kl 13:40 5625

Hvorfor du si under krona etter sommeren cph??
Æ har tapt ei gru pĂ„ deg.
Hvorfor har du samme nick?
SĂ„ flaut
MC Axel
27.06.2022 kl 13:32 5667

This is better than a lottery ticket, this can give you money tens of times back! 😁

Hold buy and get richđŸ€—