QEC Q1 financial report
Ikke den beste produksjonen 1.790 boed er langt under forventet. Men selskapet tjener fortsatt penger, selv om overskuddet ble på svake 0,9 mill. Positivt å ta en mer aktiv rolle i Red Leaf! Endelig en positiv antydning fra Quebecs styresmakter også!
Questerre reports first quarter 2023 results
Calgary, Alberta -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended March 31, 2023.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We are taking a more active role at Red Leaf, our 40% owned investee company, as they develop their core assets: a wax processing facility in the Uintah Basin with environmental permits in place and their patented technology to produce oil from shale that incorporates carbon capture.”
He added, “We have been leading discussions with stakeholders including producers in the basin, prospective purchasers, and financial advisors. These have been very encouraging and support the business case for the wax project. Red Leaf has also been working closely with us and a potential licensee for a small-scale project using their technology in the Kingdom of Jordan.”
We are following the legal process for our claim against the Quebec Government including the preparation of our damage assessment. As our Clean Gas remains a viable option to resolve the impending electricity energy shortage in the province, we are still seeking a business and political solution. During the quarter, the Quebec Ministry of Energy sent us a request for a proposal for pilot projects that would ‘foster carbon neutrality and help attain targets in the fight against climate change.’ This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.”
Highlights
• Red Leaf commissions pre-FEED engineering study for 40,000 bbl/d wax processing facility
• Government of Quebec seeks proposals for pilot projects
• Average daily production of 1,790 boe/d and adjusted funds flow from operations of $4.3 million
Production volumes increased in the first quarter of 2023 to 1,790 boe/d from 1,288 boe/d last year following the conversion of its royalty interest at Kakwa North into a working interest in the fourth quarter of 2022. The impact of higher production volumes was largely offset by the lower crude and natural gas prices during the period. Petroleum and natural gas revenue totaled $10.5 million in the period compared to $9.6 million last year. The Company generated net income of $0.9 million for the quarter (2022: $2.4 million) and adjusted funds flow from operations of $4.3 million unchanged from last year.
The Company incurred capital expenditures of $3.2 million for the period (2022: $4.9 million) and reported a working capital surplus of $25.5 million as of March 31, 2023 (2022: $1.2 million).
The term "adjusted funds flow from operations" and “working capital surplus” are non-IFRS measures. Please see the reconciliation elsewhere in this press release.
Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.
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 news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s views on the prospectivity of discussions regarding Red Leaf’s wax processing facility, that its Clean Gas remains a viable solution for the energy shortage in the province and its desire for a political and business solution to its dispute with the Government of Quebec.
Forward-looking statements are based on several material factors, expectations, or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre 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. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre's public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found under in the Company's Annual Information Form for the year ended December 31, 2022, and other documents available on the Company’s profile at www.sedar.com. 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 Questerre 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.
Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Questerre’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.
(1) For the three-month period ended March 31, 2023, liquids production including light crude and natural gas liquids accounted for 1,022 bbl/d (2022: 814 bbl/d) and natural gas including conventional and shale gas accounted for 4,607 Mcf/d (2022: 2,843 Mcf/d).
Barrel of oil equivalent (“boe”) amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and the conversion ratio of one barrel to six thousand cubic feet is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
This press release contains the terms “adjusted funds flow from operations” and “working capital surplus” which are non-GAAP terms. Questerre uses these measures to help evaluate its performance.
As an indicator of Questerre’s performance, adjusted funds flow from operations should not be considered as an alternative to, or more meaningful than, cash flows from operating activities as determined in accordance with GAAP. Questerre’s determination of adjusted funds flow from operations may not be comparable to that reported by other companies. Questerre considers adjusted funds flow from operations to be a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund operations and support activities related to its major assets.
Three Months Ended March 31,
($ thousands) 2023 2022
Net cash used in operating activities $ 4,648 $ 4,904
Change in non-cash operating working capital (370) (586)
Adjusted Funds Flow from Operations $ 4,278 $ 4,318
Working capital surplus is a non-GAAP measure calculated as current assets less current liabilities excluding risk management contracts and lease liabilities.
Questerre reports first quarter 2023 results
Calgary, Alberta -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended March 31, 2023.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We are taking a more active role at Red Leaf, our 40% owned investee company, as they develop their core assets: a wax processing facility in the Uintah Basin with environmental permits in place and their patented technology to produce oil from shale that incorporates carbon capture.”
He added, “We have been leading discussions with stakeholders including producers in the basin, prospective purchasers, and financial advisors. These have been very encouraging and support the business case for the wax project. Red Leaf has also been working closely with us and a potential licensee for a small-scale project using their technology in the Kingdom of Jordan.”
We are following the legal process for our claim against the Quebec Government including the preparation of our damage assessment. As our Clean Gas remains a viable option to resolve the impending electricity energy shortage in the province, we are still seeking a business and political solution. During the quarter, the Quebec Ministry of Energy sent us a request for a proposal for pilot projects that would ‘foster carbon neutrality and help attain targets in the fight against climate change.’ This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.”
Highlights
• Red Leaf commissions pre-FEED engineering study for 40,000 bbl/d wax processing facility
• Government of Quebec seeks proposals for pilot projects
• Average daily production of 1,790 boe/d and adjusted funds flow from operations of $4.3 million
Production volumes increased in the first quarter of 2023 to 1,790 boe/d from 1,288 boe/d last year following the conversion of its royalty interest at Kakwa North into a working interest in the fourth quarter of 2022. The impact of higher production volumes was largely offset by the lower crude and natural gas prices during the period. Petroleum and natural gas revenue totaled $10.5 million in the period compared to $9.6 million last year. The Company generated net income of $0.9 million for the quarter (2022: $2.4 million) and adjusted funds flow from operations of $4.3 million unchanged from last year.
The Company incurred capital expenditures of $3.2 million for the period (2022: $4.9 million) and reported a working capital surplus of $25.5 million as of March 31, 2023 (2022: $1.2 million).
The term "adjusted funds flow from operations" and “working capital surplus” are non-IFRS measures. Please see the reconciliation elsewhere in this press release.
Questerre is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.
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 news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s views on the prospectivity of discussions regarding Red Leaf’s wax processing facility, that its Clean Gas remains a viable solution for the energy shortage in the province and its desire for a political and business solution to its dispute with the Government of Quebec.
Forward-looking statements are based on several material factors, expectations, or assumptions of Questerre which have been used to develop such statements and information, but which may prove to be incorrect. Although Questerre believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Questerre 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. Further, events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including, without limitation: the implementation of Bill 21 by the Government of Quebec and certain other risks detailed from time-to-time in Questerre's public disclosure documents. Additional information regarding some of these risks, expectations or assumptions and other factors may be found under in the Company's Annual Information Form for the year ended December 31, 2022, and other documents available on the Company’s profile at www.sedar.com. 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 Questerre 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.
Certain information set out herein may be considered as “financial outlook” within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Questerre’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.
(1) For the three-month period ended March 31, 2023, liquids production including light crude and natural gas liquids accounted for 1,022 bbl/d (2022: 814 bbl/d) and natural gas including conventional and shale gas accounted for 4,607 Mcf/d (2022: 2,843 Mcf/d).
Barrel of oil equivalent (“boe”) amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and the conversion ratio of one barrel to six thousand cubic feet is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalent of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
This press release contains the terms “adjusted funds flow from operations” and “working capital surplus” which are non-GAAP terms. Questerre uses these measures to help evaluate its performance.
As an indicator of Questerre’s performance, adjusted funds flow from operations should not be considered as an alternative to, or more meaningful than, cash flows from operating activities as determined in accordance with GAAP. Questerre’s determination of adjusted funds flow from operations may not be comparable to that reported by other companies. Questerre considers adjusted funds flow from operations to be a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund operations and support activities related to its major assets.
Three Months Ended March 31,
($ thousands) 2023 2022
Net cash used in operating activities $ 4,648 $ 4,904
Change in non-cash operating working capital (370) (586)
Adjusted Funds Flow from Operations $ 4,278 $ 4,318
Working capital surplus is a non-GAAP measure calculated as current assets less current liabilities excluding risk management contracts and lease liabilities.
Redigert 11.05.2023 kl 05:45
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hgsd33
11.05.2023 kl 06:30
8523
• Red Leaf commissions pre-FEED engineering study for 40,000 bbl/d wax processing facility
• Government of Quebec seeks proposals for pilot projects
Tolker dette svært positivt, muligens disse besøkene fra Tyskland og EU ikke er helt bortkastet. Så dette blir fremdeles spennende og følge med på fremover.
Noen hundre forventede tønner fra eller til kan mulig skape noe kortsiktig støy. Mener og huske det ble nevnt noe om kompressor problemer etc. for en tid tilbake. Så spørs om alt er 100% up and running ? Uansett er produksjonen økende, men på fallende priser. Så sum summarum er jeg fornøyd med q1.
• Government of Quebec seeks proposals for pilot projects
Tolker dette svært positivt, muligens disse besøkene fra Tyskland og EU ikke er helt bortkastet. Så dette blir fremdeles spennende og følge med på fremover.
Noen hundre forventede tønner fra eller til kan mulig skape noe kortsiktig støy. Mener og huske det ble nevnt noe om kompressor problemer etc. for en tid tilbake. Så spørs om alt er 100% up and running ? Uansett er produksjonen økende, men på fallende priser. Så sum summarum er jeg fornøyd med q1.
googleearth11
11.05.2023 kl 06:34
8476
Nei, produksjonen er fallende fra q4, og kompressorproblemene var i q3. Så selve resultatet er kortsiktig skuffende. Men som jeg også nevner så er det mer positivt på lengre sikt. Sitter trygt og solid i mine 5 år. :-)
hgsd33
11.05.2023 kl 06:55
8469
Hvis en ser på kvartals-produksjonen isolert sett kunne det vært bedre. Men for de av oss som har et litt lenge perpektiv trenger ikke dette ha noe og bety.
Tipper vi får litt kortsiktig støy som nevnt rundt tallene, men som deg sitter jeg trygt og solid på min 3-4 måned 😀
«This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.”
Håper de har et fast track system eller lignende der borte så vi får et svar på hva de tenker innen rimelig tid.
Tipper vi får litt kortsiktig støy som nevnt rundt tallene, men som deg sitter jeg trygt og solid på min 3-4 måned 😀
«This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.”
Håper de har et fast track system eller lignende der borte så vi får et svar på hva de tenker innen rimelig tid.
Redigert 11.05.2023 kl 07:26
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Fremtiden er ekstrem lys for QEC og jeg venter gerne nogle år på øget produktion i Kakwa, pilot projekt i Quebec, Read Lead og Jordan. 😉
Kvike11
11.05.2023 kl 07:37
8198
ja vi er mange der har været med længe.
forstår ikke helt at de nu skal til at søge om nye tilladelser, jeg troede de havde fået et klar nej til alt, kan det være ren spin fra regerings side, så erstatningen forsvinder ud i det blå.
Hvorfor har QEC ikke søgt om de tilladelser for år siden, hvis der kan være en produktion.
Er det noget de aldrig har søgt om, og som de pludselig vil til at producerer,
som de kan udnytte, hvorfor har de ikke udnyttet det før.
Virker lidt sløvt fra selskabets side.
Ellers ok regnskab og muligvis stor indtjening i RED LEAF i fremtiden.
Lad os få noget mere at vide om erstatningstørrelsen, er det samme kontor de skal søge nye tilladelser hos.
Virker som den uendelige spin historie fra regeringsside
forstår ikke helt at de nu skal til at søge om nye tilladelser, jeg troede de havde fået et klar nej til alt, kan det være ren spin fra regerings side, så erstatningen forsvinder ud i det blå.
Hvorfor har QEC ikke søgt om de tilladelser for år siden, hvis der kan være en produktion.
Er det noget de aldrig har søgt om, og som de pludselig vil til at producerer,
som de kan udnytte, hvorfor har de ikke udnyttet det før.
Virker lidt sløvt fra selskabets side.
Ellers ok regnskab og muligvis stor indtjening i RED LEAF i fremtiden.
Lad os få noget mere at vide om erstatningstørrelsen, er det samme kontor de skal søge nye tilladelser hos.
Virker som den uendelige spin historie fra regeringsside
Menigheten snakker stadig om økende produksjon selv om den faller.
Jeg forstår ikke din logikk i at du kan «vente i nogle år på øget produktipn» samtidig som du hevder at aksjen snart skal over 3 ?
minsin
11.05.2023 kl 08:01
7972
Slettet brukerskrev Menigheten snakker stadig om økende produksjon selv om den faller.
Fra 2022 Annual/ Q4 :
"We only participated in one (0.25 net) of the two (0.50 net) wells drilled by the operator at Kakwa
Central this winter. The expected return on our capital for the second well was challenged by lower
commodity prices, inflation in well costs and their proposed completion design that might not
maximize recoveries. As a result, we expect our production will experience natural declines this year
prior to the commencement of the Kakwa North drilling program of up to three (1.5 net) wells late
this fall."
Produksjonen var ventet å falle noe allerede etter Q4
Produksjonen er ventet å øke etter Q2 - altså i Q3
Litt avhengig av hvilken løsning de velger - man da vil produksjonen være i omr 2800-3000 boed
"We only participated in one (0.25 net) of the two (0.50 net) wells drilled by the operator at Kakwa
Central this winter. The expected return on our capital for the second well was challenged by lower
commodity prices, inflation in well costs and their proposed completion design that might not
maximize recoveries. As a result, we expect our production will experience natural declines this year
prior to the commencement of the Kakwa North drilling program of up to three (1.5 net) wells late
this fall."
Produksjonen var ventet å falle noe allerede etter Q4
Produksjonen er ventet å øke etter Q2 - altså i Q3
Litt avhengig av hvilken løsning de velger - man da vil produksjonen være i omr 2800-3000 boed
Redigert 11.05.2023 kl 08:03
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Der er efterhånden meget, som du ikke forstår, når man læser dine indlæg, men vent nu og se, hvem som får ret.
MC Axel
11.05.2023 kl 08:19
7733
Pilot project in Quebec
This is from February this year:
Bjorn Inge Tonnessen says the door is ajar and that "it might happen"
https://m.youtube.com/watch?v=m8i6fvy1EhQ
This is from February this year:
Bjorn Inge Tonnessen says the door is ajar and that "it might happen"
https://m.youtube.com/watch?v=m8i6fvy1EhQ
Kom gjerne med et eksempel på noe jeg ikke har forstått.
Jeg er jo meget konkret på mine spm til deg.
Jeg er jo meget konkret på mine spm til deg.
minsin
11.05.2023 kl 08:29
7617
"During the quarter, the Quebec Ministry of Energy sent us a request for a proposal for pilot projects that would ‘foster carbon neutrality and help attain targets in the fight against climate change.’ This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.”
Det er helt klart at Quebec ser nå på muligheten om å endre eller tilpasse Bill 21 , i med at de har sendt en direkte henvisning til Questerre - der Quebec ønsker ett forslag til ett pilot prosjekt. I høst vil det tydeligvis bli høringsforslag på ny lovgivning, i forbindelse med "clean energy."- strategi
Erstatningssøksmålene mot Quebec - presser på , samtidig som Europa mangler LNG.
Som jeg tidligere har nevnt - så tror jeg ikke på BILL 21 i sin nåværende form.
Tipper Questerres løsning blir den som allerede er skissert - Utskipning over Becancour
Det er helt klart at Quebec ser nå på muligheten om å endre eller tilpasse Bill 21 , i med at de har sendt en direkte henvisning til Questerre - der Quebec ønsker ett forslag til ett pilot prosjekt. I høst vil det tydeligvis bli høringsforslag på ny lovgivning, i forbindelse med "clean energy."- strategi
Erstatningssøksmålene mot Quebec - presser på , samtidig som Europa mangler LNG.
Som jeg tidligere har nevnt - så tror jeg ikke på BILL 21 i sin nåværende form.
Tipper Questerres løsning blir den som allerede er skissert - Utskipning over Becancour
Redigert 11.05.2023 kl 08:52
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MC Axel
11.05.2023 kl 08:34
7552
It is Quebec that has requested QEC to do a pilot project and not the other way around😁
the Quebec Ministry of Energy sent us a request for a proposal for pilot projects that would 'foster carbon neutrality and help attain targets in the fight against climate change.'
This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.
"Government of Quebec seeks proposals for carbon sequestration pilot projects"
the Quebec Ministry of Energy sent us a request for a proposal for pilot projects that would 'foster carbon neutrality and help attain targets in the fight against climate change.'
This was followed by the announcement of a consultation process ahead of new legislation this fall on a new clean energy strategy for the province.
"Government of Quebec seeks proposals for carbon sequestration pilot projects"
1013
11.05.2023 kl 08:47
7469
315 millioner norske kroner i banken. børsværdi 742 millioner norske. fatter ikke denne lave kurs.
googleearth11
11.05.2023 kl 08:54
7402
Slettet brukerskrev Menigheten snakker stadig om økende produksjon selv om den faller.
Hvilken del av meldinga i Årsrapporten 2022 om at produksjonen vil gradvis økes UTOVER HØSTEN 23, er det du ikke forstår? Kaller du Årsrapporten for "Menigheten? Ikke så enkelt dette, gett....
googleearth11
11.05.2023 kl 08:55
7375
Det aller første signalet fra politiske myndigheter om at man KAN være villige til å endre Bill21. :-) Det jubler jeg himmelhøyt over. :-)
minsin
11.05.2023 kl 08:59
7325
Er en helt klar offisiell hentydning på at Quebec vurderer å endre Bill21- ikke tvil i det!
Bare å vente - vi får vel prosjekt planen og mere spesifikt rundt dette i Q2.
Becancour port har jo allerede utskipnings tillatelse for LNG.
På tomta til Quebec ligger allerede ett Gasskraftverk , som paradoksalt nok forsynes det med gass fra andre provinser
Bare å vente - vi får vel prosjekt planen og mere spesifikt rundt dette i Q2.
Becancour port har jo allerede utskipnings tillatelse for LNG.
På tomta til Quebec ligger allerede ett Gasskraftverk , som paradoksalt nok forsynes det med gass fra andre provinser
Redigert 11.05.2023 kl 09:12
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tuja
11.05.2023 kl 09:25
7137
Det er ivertfall ett tydelig stemningsskifte når QEC tar det med i kv.rapporten at energiministeren har kommet med forespørsel om pilot/med karbonfangst/clean tech. Alle vet hvor kursen går når forespørselen blir signert på papiret.
MC Axel
11.05.2023 kl 09:29
7101
Yes, it's incredible! Especially when QEC is encouraged by Quebec to do a pilot study!
Ja og så nøjes vi ikke kun med at passere 3 NOK :-)
Peter Sellers
11.05.2023 kl 09:42
7009
Det mest gledelige i mine øyene fra Q rapporten er som nevnt at myndighetene er villige til å vurdere pilot prosjekt, så la oss håpe det endelig kan skje noe, tvi tvi alle aksjonærer :))
tuja
11.05.2023 kl 10:09
6855
Ser ut som flere etterhvert har fått med seg notisen om henvendelsen fra energiministeren.
smoke
11.05.2023 kl 10:10
6853
Litt tidlig å si, men det ser ut som noen burde stramme lissene på løpeskoa :D
tuja
11.05.2023 kl 10:14
6819
Fra xi:
Syns det begynner å skinne også av QEC's 42%-eide Red Leaf - se https://redleafinc.com/projects/oil-shale-utah/:
By making use of our proprietary HCCO® process on our acreage, Red Leaf plans to realize up to 75,000 barrels per day of blue (or net-zero emissions) oil and rare earth elements from this Utah-sited project.
Employing the company’s oil shale resource in Utah – and utilizing a phased development approach – the first commercial phase of the project is aiming for production of 12,500 barrels per day of oil, with further phases capable of increasing this figure to as much as 75,000 barrels of oil per day.
Red Leaf estimates a resource of 3,500 tons of REEs, including 2,000 tons of heavy rare earths in-place in a single mining interval on our Seep Ridge block, with other intervals yet to be characterized. Over 60 square miles are currently available for mining at outcrop and the company is assessing new technologies that will enable low-cost REE extraction and separation.
Syns det begynner å skinne også av QEC's 42%-eide Red Leaf - se https://redleafinc.com/projects/oil-shale-utah/:
By making use of our proprietary HCCO® process on our acreage, Red Leaf plans to realize up to 75,000 barrels per day of blue (or net-zero emissions) oil and rare earth elements from this Utah-sited project.
Employing the company’s oil shale resource in Utah – and utilizing a phased development approach – the first commercial phase of the project is aiming for production of 12,500 barrels per day of oil, with further phases capable of increasing this figure to as much as 75,000 barrels of oil per day.
Red Leaf estimates a resource of 3,500 tons of REEs, including 2,000 tons of heavy rare earths in-place in a single mining interval on our Seep Ridge block, with other intervals yet to be characterized. Over 60 square miles are currently available for mining at outcrop and the company is assessing new technologies that will enable low-cost REE extraction and separation.
Fjellbris
11.05.2023 kl 10:23
6756
Bare å holde på aksjene folkens👍 Er også veldig fornøyd med rapporten, 315 mill på bok og QEC prises pt a 740 mill. med varslet økende produksjon samt ikke minst nå åpnes det som mange av oss hele tiden har trodd muligens også opp for pilot (alternativet er stor erstatning!).
Limer inn link under fra Investornytt juni 2022 som er like aktuell i dag, tipper vi har avklaring om det blir pilot eller erstatning før sommeren (varslet rettssak erstatning juli). Og mtp energibehov Europa har samt ønske om å løsrive seg 100% fra Putin / Russland, så er der heller ikke noe endret.
…..
https://investornytt.no/gasskrise-i-europa-kan-sende-qusterre-energy-corporation-til-himmels/
Limer inn link under fra Investornytt juni 2022 som er like aktuell i dag, tipper vi har avklaring om det blir pilot eller erstatning før sommeren (varslet rettssak erstatning juli). Og mtp energibehov Europa har samt ønske om å løsrive seg 100% fra Putin / Russland, så er der heller ikke noe endret.
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https://investornytt.no/gasskrise-i-europa-kan-sende-qusterre-energy-corporation-til-himmels/
Redigert 11.05.2023 kl 10:30
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Fjellbris
11.05.2023 kl 10:38
6644
Ps. Som nevnt mange ganger er risk / reward her utrolig god med 315 mill på bok, der emi spøkelset som herjet i aksjen for en del år siden nå er borte. Nedsiden er nå beskyttet av nåværende produksjon som gir god cashflow, selskapet har jo heller ikke gjeld.
Redigert 11.05.2023 kl 11:12
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tuja
11.05.2023 kl 11:34
6341
Tar med denne oppdaterte utrekningen fra xi på verdier i QEC (uten Quebec og Red Leaf):
Oppdatert enkel core-NAV beregning - uten oppside i Quebec eller Red Leaf:
QEC-NAV eks Quebec/Red Leaf:
NAV10% exist production 270
Minimum erst. Quebec 165
Cash Red Leaf 42% 10
NETTO-CASH Q1 25
NAV 470
NAV/aksje kr 8,55
Oppdatert enkel core-NAV beregning - uten oppside i Quebec eller Red Leaf:
QEC-NAV eks Quebec/Red Leaf:
NAV10% exist production 270
Minimum erst. Quebec 165
Cash Red Leaf 42% 10
NETTO-CASH Q1 25
NAV 470
NAV/aksje kr 8,55
googleearth11
11.05.2023 kl 11:36
6327
Kan vi nå få slutt på tesen om at QEC alltid faller etter resultatfremleggelse?
googleearth11
11.05.2023 kl 11:36
6328
Kan vi nå få slutt på tesen om at QEC alltid faller etter resultatfremleggelse?
Fjellbris
11.05.2023 kl 11:37
6305
tuja skrev QEC on the run.
Ja, tror vi snart igjen er på 2 tallet, når markedet våkner og meglerne får finregnet på tall og lest presentasjonen re prises QEC. Ikke minst mtp signaler nå fra energiminister til QEC….
Redigert 11.05.2023 kl 11:38
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njn-
11.05.2023 kl 11:38
6286
Ja! Du fornekter deg ikke med din negative holdning.
Åpner med "Ikke den beste produksjonen" i den beste mest positive rapporten.
Åpner med "Ikke den beste produksjonen" i den beste mest positive rapporten.
Slettet brukerskrev Menigheten snakker stadig om økende produksjon selv om den faller.
Den lave produktion i Q1 var ventet og derfor kan kursen ikke holdes nede med nye meldinger om muligt pilot projekt i Quebec, samt meget positive meldinger omkring Red Leaf.
Må være tungt at side på perronen alene, når toget kører nordpå :-)
Må være tungt at side på perronen alene, når toget kører nordpå :-)