QEC - The energy sector welcomes the court ruling!
There are some minions on this forum and on XI who claim that this court decision did not matter much.
The energy sector in Canada/Quebec does not agree with this, they believe this was a significant victory for the energy sector!
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Mendel Ekstein, President, and Chief Executive Officer of Petrolympic, commented: “We welcome this ruling as a crystal-clear message that the law must be fair.
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Petrolympic welcomes the Québec Superior Court’s decision to suspend provisions of Bill 21
Petrolympic Ltd.
Mon, January 29, 2024
TORONTO, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Petrolympic Ltd. (TSX.V: PCQ) (OTC: PCQRF) (the “Company”) is pleased to report on the decision made by the Québec Superior Court (Civil Division) to stay some provisions of Bill 21, the Act ending exploration for petroleum and underground reservoirs and production of petroleum and brine (the “Act”), for the duration of the judicial proceedings.
In its ruling, the Court concluded to the legitimacy of Petrolympic’s claim that some provisions of the Act represent a serious legal matter which, if not stayed immediately, would cause serious or irreparable harm to the Company.
Mendel Ekstein, President, and Chief Executive Officer of Petrolympic, commented: “We welcome this ruling as a crystal-clear message that the law must be fair. Petrolympic is not fighting Québec here, it is merely standing for its rights against an Act that we consider unfair and that unnecessarily harms the Company’s interests. We are also looking forward beyond the judicial proceedings, as we mean to continue contributing to the development of Québec’s energy resources.”
Apart from its mining assets, Petrolympic holds in Québec an interest in a total of 753,058 hectares (1,860,839 acres) of oil and gas exploration licences in the St. Lawrence Lowlands and in the Gaspe Peninsula/Lower St. Lawrence region.
In the St. Lawrence Lowlands, the Company’s joint venture properties encompass a large part of the prolific Utica shale gas play. A study by the Geological Survey of Canada in 2016 has estimated an original gas in place of 183 Tcf for the whole Utica Shale in the St. Lawrence Lowlands. The Company’s holdings in this area consist of a 30% interest in 216,933 hectares (536,051 acres) through a joint venture with Ressources et Énergie Squatex (“Squatex”), a 12% interest in 8,000 hectares (19,768 acres) through the Farmout Agreement with Canbriam Energy Inc. (now Pacific Canbriam Energy Ltd.), and a 100% interest in 55,951 hectares (138,247 acres).
Read it all here:
https://finance.yahoo.com/news/petrolympic-welcomes-qu-bec-superior-124000564.html
The energy sector in Canada/Quebec does not agree with this, they believe this was a significant victory for the energy sector!
‐---'-----------
Mendel Ekstein, President, and Chief Executive Officer of Petrolympic, commented: “We welcome this ruling as a crystal-clear message that the law must be fair.
------------
Petrolympic welcomes the Québec Superior Court’s decision to suspend provisions of Bill 21
Petrolympic Ltd.
Mon, January 29, 2024
TORONTO, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Petrolympic Ltd. (TSX.V: PCQ) (OTC: PCQRF) (the “Company”) is pleased to report on the decision made by the Québec Superior Court (Civil Division) to stay some provisions of Bill 21, the Act ending exploration for petroleum and underground reservoirs and production of petroleum and brine (the “Act”), for the duration of the judicial proceedings.
In its ruling, the Court concluded to the legitimacy of Petrolympic’s claim that some provisions of the Act represent a serious legal matter which, if not stayed immediately, would cause serious or irreparable harm to the Company.
Mendel Ekstein, President, and Chief Executive Officer of Petrolympic, commented: “We welcome this ruling as a crystal-clear message that the law must be fair. Petrolympic is not fighting Québec here, it is merely standing for its rights against an Act that we consider unfair and that unnecessarily harms the Company’s interests. We are also looking forward beyond the judicial proceedings, as we mean to continue contributing to the development of Québec’s energy resources.”
Apart from its mining assets, Petrolympic holds in Québec an interest in a total of 753,058 hectares (1,860,839 acres) of oil and gas exploration licences in the St. Lawrence Lowlands and in the Gaspe Peninsula/Lower St. Lawrence region.
In the St. Lawrence Lowlands, the Company’s joint venture properties encompass a large part of the prolific Utica shale gas play. A study by the Geological Survey of Canada in 2016 has estimated an original gas in place of 183 Tcf for the whole Utica Shale in the St. Lawrence Lowlands. The Company’s holdings in this area consist of a 30% interest in 216,933 hectares (536,051 acres) through a joint venture with Ressources et Énergie Squatex (“Squatex”), a 12% interest in 8,000 hectares (19,768 acres) through the Farmout Agreement with Canbriam Energy Inc. (now Pacific Canbriam Energy Ltd.), and a 100% interest in 55,951 hectares (138,247 acres).
Read it all here:
https://finance.yahoo.com/news/petrolympic-welcomes-qu-bec-superior-124000564.html
Redigert 30.01.2024 kl 02:03
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MC Axel
30.01.2024 kl 01:29
4025
https://www.wallstreet-online.de/nachricht/17741540-petrolympic-welcomes-the-quebec-superior-court-s-decision-to-suspend-provisions-of-bill-21
https://energynow.ca/2024/01/petrolympic-welcomes-the-quebec-superior-courts-decision-to-suspend-provisions-of-bill-21/?amp
https://energynow.ca/2024/01/petrolympic-welcomes-the-quebec-superior-courts-decision-to-suspend-provisions-of-bill-21/?amp
Redigert 30.01.2024 kl 01:42
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Jensi
30.01.2024 kl 02:13
3958
Og ikke at forglemme at de har et konventionelt fund v rimounski sammen m partneren sqx.
Som vist nok de fandt i 2018 og så blev der stille pga fuld stop.
Snak om en spand vand i hovedet
den her : https://www.petrolympic.com/gaspe-penninsula
Som vist nok de fandt i 2018 og så blev der stille pga fuld stop.
Snak om en spand vand i hovedet
den her : https://www.petrolympic.com/gaspe-penninsula
Redigert 30.01.2024 kl 13:28
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tuja
30.01.2024 kl 08:33
3433
Dette taler sitt tydelige språk. Bull som f...., spør du meg:
The Court also ordered provisional execution despite appeal of this ruling, meaning that the judgement will be enforced even if the Attorney General files an appeal. This exceptional measure aims at preserving the Company’s rights while it continues to work toward a fair solution to the situation.
The Court also ordered provisional execution despite appeal of this ruling, meaning that the judgement will be enforced even if the Attorney General files an appeal. This exceptional measure aims at preserving the Company’s rights while it continues to work toward a fair solution to the situation.
MC Axel
30.01.2024 kl 09:33
3169
It is actually fascinating to see that there are so many who do not understand the importance of court ruling, a bit scary
The share is almost priced as if nothing new has been added...
The decision had both an impact on possible extraction or compensation and QEC and the others stand much stronger regarding their fair compensation
The share is almost priced as if nothing new has been added...
The decision had both an impact on possible extraction or compensation and QEC and the others stand much stronger regarding their fair compensation
MC Axel
31.01.2024 kl 09:53
2622
One can only wonder what people think. The fact that QEC and others won over the state is of no importance. The fact that QEC has hundreds of millions on its account has no meaning, that they make money and get new wells nada meaning
The fact that QEC maintained its rights to extraction or a fair compensation is also of no importance
Not surprised that there are so many people who do so poorly in their day-to-day life
Good luck
P.S. I have an order on 2 NOK sharp
QEC is one of the cheapest on the exchange
The fact that QEC maintained its rights to extraction or a fair compensation is also of no importance
Not surprised that there are so many people who do so poorly in their day-to-day life
Good luck
P.S. I have an order on 2 NOK sharp
QEC is one of the cheapest on the exchange
Redigert 31.01.2024 kl 10:01
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Ikke_viktig
31.01.2024 kl 10:17
2489
Grunnen til at aksjen faller tilbake er fordi traderne ser at dette tar tid. Mange ser for seg at det ikke er avgjort før i 2025-27(ish). Så jeg antar at de tror at når nye meldinger kommer om størrelse på erstatningskrav, endelig dom, åpning for utvinning, osv kommer så skal de få kjøpt på dagens nivåer eller 10-20% opp i kurs.
Til dem har jeg bare en eneste ting å si:
Se hvor fort aksjen gikk på denne meldingen og tenk dere selv hvor mange selgere det vil være på disse meldingene 10-20% opp i kurs:
- De får fair value i erstatning dømt av retten: (100kr+ per aksje)
- De melder krav på 50(?) mrd CAD(800-900kr per aksje)
- Det blir åpnet opp for utvinning
Jeg sier dette en eneste gang: Kjøp når det er billig! Du får ikke tak i aksjer under ti kroner om det åpnes for utvinning, eller de vinner i retten. Og aksjen vil gå bananas når markedet ser hva de krever!
Til dem har jeg bare en eneste ting å si:
Se hvor fort aksjen gikk på denne meldingen og tenk dere selv hvor mange selgere det vil være på disse meldingene 10-20% opp i kurs:
- De får fair value i erstatning dømt av retten: (100kr+ per aksje)
- De melder krav på 50(?) mrd CAD(800-900kr per aksje)
- Det blir åpnet opp for utvinning
Jeg sier dette en eneste gang: Kjøp når det er billig! Du får ikke tak i aksjer under ti kroner om det åpnes for utvinning, eller de vinner i retten. Og aksjen vil gå bananas når markedet ser hva de krever!
MC Axel
31.01.2024 kl 10:21
2464
You don't take into account a settlement like the one Quebec did regarding Anticosti, it took no time and was fair and the industry was happy with the compensation
this win should also be baked into the stock price as it helps preserve the great values in Quebec no matter how long it takes. As it stands the values have been written down to zero and on January 26th they were worth a lot again
this win should also be baked into the stock price as it helps preserve the great values in Quebec no matter how long it takes. As it stands the values have been written down to zero and on January 26th they were worth a lot again
Redigert 31.01.2024 kl 10:39
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MC Axel
31.01.2024 kl 11:06
2308
The court decision was in English, it seems that many people in Norway do not know what a victory is called in English😃
Although they are nice and friendly people🤗❤️
Although they are nice and friendly people🤗❤️
asbjørnsen
31.01.2024 kl 19:41
1794
True. However, what about QEC at TSX?
I dont think its the lanuage. More the history of QEC and a great deal of short term traders....
I've been in and out since 2016. Its been quite the ride....
I dont think its the lanuage. More the history of QEC and a great deal of short term traders....
I've been in and out since 2016. Its been quite the ride....