Questerre reports Q4 🚀🚀

LATO
QEC 20.03.2020 kl 23:22 8681

Questerre reports on 2019 year-end financial results

President’s Message

Our goal last year was to address the growing importance of ESG for energy companies and particularly our project in Quebec. We partnered with Schlumberger and SNC Lavalin and re-established ourselves as a Clean Tech Energy company. We are very proud of our project and our goal to produce natural gas with zero emissions, zero fresh water usage and zero toxic fluids below ground.

This year we are focused on responding to the impact of low oil prices from the Saudi-Russia dispute and the impact of the coronavirus pandemic. We are reviewing any non-essential capital spending and reducing overheads to preserve our balance sheet strength. We will also continue our work to secure social license for our Clean Tech Energy project.

Highlights
* Focus has turned to addressing the impact of the recent production increases by OPEC and non-OPEC member countries, as well as the coronavirus pandemic
* Closed acquisition to regain ownership and operatorship of our natural gas discovery in Quebec
* Quebec resource assessment includes best estimate of risked economic contingent resources of 1.3 Tcf with a before income tax NPV-10% of $1 billion for approximately 20% of our acreage
* Total proved and probable reserves increased over 20% to 35.3 MMBoe with a before income tax NPV-10% of $237.5 million
* Advancing engineering and negotiating concession agreement for oil shale project in Jordan
* Average daily production of 2,121 boe/d with adjusted funds flow from operations of $14.4 million

With a fourth well completed in the year, the results from Kakwa North continue to exceed our expectations. It contributed to another material increase in our reserves at year-end. While the economics here remain among some of the best in the basin, we expect future drilling will be deferred until prices improve. We could see the carrying value of our assets impaired due to these historically low oil prices if they prove to endure beyond the short term.

We were pleased the Government of Jordan invited us to negotiate the terms of a production license for our oil shale project. This follows the submission of our recently completed exploration program which included the resource assessment as well as the feasibility engineering for this 8 billion barrel deposit. Our ultimate decision to move forward with the project will depend on among other things, the fiscal terms of the concession, final detailed engineering and the long term outlook for oil prices.

As we negotiate the fiscal and other commercial terms of this agreement, we have been looking at options to reduce the up front capital costs and our environmental footprint. We are optimistic about reducing costs based on the recent FEL-2 engineering work completed by Red Leaf on the EcoShale process. We were also pleased to see they redeemed the majority of their preferred shares at a substantial discount and now have over US$30 million in cash essentially unencumbered. This materially improved the value of our shares and we reflected this increase on our balance sheet at year-end.

One of our biggest accomplishments this year was closing the Quebec acquisition. We settled our legal claims against the operator in exchange for operatorship and their assets in Quebec. This was a constructive solution that allows us to stay focused on our multi-Tcf gas discovery in Quebec.

We received final approvals in January 2020 and sent out the required notices to over 50,000 landowners in the Lowlands. This was an excellent opportunity to communicate with stakeholders. We have been very pleased overall with the responses we have received.

On the social license front, our plans are well advanced to engage the community and include their input in our project. We hope to be meeting with key stakeholders over the coming year once the travel restrictions due to the pandemic are lifted. Our approach is to work on social license first and apply for permits second. We believe this approach is simply the new way of doing things. Meaningful consultation means ensuring community acceptance and input before applying for permits.

Our financial results including a net profit of $65.7 million reflect several one-time items related to the Quebec acquisition. These include the non-cash consideration we received on the settlement of the legal claims. This was estimated at approximately $60 million and based on an independent report prepared by a valuation firm. We also realized a gain of $6 million on the forgiveness of debt owing to the vendor.

We believe the combination of the dramatic drop in oil prices and the pandemic will have recessionary impacts similar to the downturn after 9/11. We do not see any systemic risks but believe this may take between 12 to 18 months to normalize.

Our main objective during this time is to preserve financial liquidity. We anticipate the operators at Kakwa will materially scale back their programs and we plan to selectively participate, if at all, as market conditions permit. While the travel restrictions may slow down the pace of our consultations in Quebec.



https://newsweb.oslobors.no/message/499129


https://newsweb.oslobors.no/message/499130

LATO
22.03.2020 kl 15:06 4039

Får håpe denne krisen får myndighetene i Canada og Québec til å gå for clean gas.

Pick Up
22.03.2020 kl 19:39 3779

Lato
Du må snart kjenne din egen begrensning.
Domus
22.03.2020 kl 19:48 3743

Ketchup...please! Ikke begynn igjen !

QEC 2019 medium pluss rapport. Kurs rundt KR 1 forventes ut mars, +/- 5%
Pasifiseres vesentlig av OPEC Pluss på ubestemt tid. Saudi-Bossen har skjult agenda, samt uro og tenners gnissel innad. Mest sannsynlig mislykkes han i det korte bilde.

Russland skylder på araberne for oljekollapsen:
https://finansavisen.no/nyheter/olje/2020/03/22/7510052/russland-skylder-pa-araberne-for-oljekollapsen
---------------------------------------------------------------
Teknisk analyse - søndagens aksjetips:
https://finansavisen.no/nyheter/aksjeanalyse/2020/03/22/7510001/teknisk-analyse-sondagens-aksjetips

Er QEC et av mange selskap man kan laste opp i nå?

https://www.dn.no/makrookonomi/jan-petter-sissener/koronaviruset/kreditt/sissener-mener-dobbel-skvis-har-skapt-kjopsmulighet-i-kredittmarkedet-har-lastet-opp-denne-uken/2-1-778960
--------------------------------

– Oljeprisen, målt i USD, steg markant fredag, for så å falle tilbake igjen mandag. Det er naturlig å anta at dette vil prege oljerelaterte aksjer i dag. Dollaren har styrket seg på nytt gjennom helgen, spesielt mot den norske kronen, noe som kan tenkes å dempe fallet i en rekke norske aksjer i dag, inkludert oljeselskapene.

https://finansavisen.no/nyheter/bors/2020/03/23/7510161/dette-vil-pavirke-oslo-bors


Redigert 23.03.2020 kl 08:01 Du må logge inn for å svare
Asroma87
23.03.2020 kl 08:02 3269

Bliver der ikke skrevet om Questerres regnskabs aflægning i nogle af de norske aviser her til morgen?
Chris85
23.03.2020 kl 08:15 3214

Hva er der å skrive om?
Vuppz
23.03.2020 kl 09:15 2982

Flott kjøpsmulighet :-)
Chris85
23.03.2020 kl 09:22 2932

Det har du sagt siden 2 kr...synd på de som har hørt på deg
XL2016
23.03.2020 kl 09:31 2881

Chris85 - ja, den medfølelsen tenker jeg kom fra hjerterota.

Mange som viser sitt sanne jeg - nå i krisetider.

Tragisk
Chris85
23.03.2020 kl 09:32 2863

Bra. Da er det på tide at du gjør det også
XL2016
23.03.2020 kl 09:41 2820

Får bare gjenta - Tragisk!

Stakkars Lato, han som gledet seg så til 20.mars og kurs minst 2kr..det han fikk var ALL TIME LOW 0,70 ! Og hauseren elly, tidligere danm har blitt borte igjen...bare trist for de dette.

Det har ikke manglet på advarsler om at qec kunne falle veldig mye. Men hausere på HO har tydeligvis ignorert signalene og drømt om 10 eller 100 ganger kurs.
Med nåværende produksjon, så er dette veldig alvorlig.
Null i Quebec og null sjanse i Jordan---- Hva vil kursen være etter neste forsøk på emisjon?
XL2016
23.03.2020 kl 10:44 2602

Faktumet er vel at det jobbes med pilot politisk / administrativt og at man snart vil få en presentasjon, fra Quebec gasskoalisjon ( ref tidligere artikkel ), om nye utvinningsmetoder.

Olja og Corona rammer hardt - så å ignorere dette blir vel noe ubalansert?
Pick Up
23.03.2020 kl 12:20 2406

Myndighetene har helt andre ting å tenke på. Canada er første land som har meldt avbud til OL.




sheepman
23.03.2020 kl 12:48 2326

Hmmm. Hvor har du det fra? Kan ikke se at det jobbes med pilot politisk for tiden...
XL2016
23.03.2020 kl 12:58 2293

Ser man på lobby siden - så er vel det tilfelle Sheepman?

Stevepick XL skrev 🛬🛬
Solgt alt, eller beholdt en beskjeden lyttepost, Stevepick XXL?
Ser ut for at olja trekker stadig raskere sørover (US pint-hint) og alt annet likeså etter hvert i meste laget. Kan det ende med syv magre infront for noen og enhver?

Fakta status totales estimert endrer seg stødig i retning US-sør, EU-vest dgl significant.

Endrer QEC fra ovenfor KR 1 +/- 5%, til 0,50, med 0.30 gardering ila april mnd. Trekker nå ut av QEC stille og rolig innen onsdag og tar inn igjen rundt femtiøringen etter hvert :)
Årsak:
Når globalt behov synker dramatisk pga økende nedstenging globalt, og land-, fjell-, pute-, flåte oljelagre er fulle - kan omså alle ( SA, OPEC Pluss, R, US ) være enige om red prod uten akutt respons i markedene. Det vil ta sin tid å få vinger, hjul og kjøl i siget og basic fart igjen - uker og måneder faktisk.
Redigert 23.03.2020 kl 13:27 Du må logge inn for å svare

QEC krakk mandag.
Omsatt siste OSEBX:
0,7175 -0,11 -13,50%
-
Questerre åpnet
TSE: QEC
0,095 CAD −0,0100 (9,52 %) 1 CAD/NOK 7,80 x 0,095 = 0,741
23. mar., 09:37 EDT
-
Omsatt siste:
Questerre
TSE: QEC
0,095 CAD −0,0100 (9,52 %) 1 CAD/NOK 7.98 x 0,095 = 0,7581
23. mar., 15:39 EDT
--------------------------
Edit:
https://money.cnn.com/data/markets/

USA: Demokratene sier nei til ny krisepakke verdt 1800 mrd. dollar
I Senatet i USAs Kongress har det blitt jobbet gjennom dagen med å få på plass en stimuluspakke til økonomien for å hjelpe bedrifter og personer gjennom de økonomiske konsekvensene av koronavirusutbruddet.
Tidligere på dagen uttalte Demokratenes leder i Senatet Chuck Schumer at han håpet det skulle bli enighet i løpet av dagen, men nå melder storavisen New York Times at Demokratene i kammeret nok en gang sagt nei til forslaget om en krisepakke med en finansiell ramme på 1800 milliarder dollar.
Ifølge avisen oppstod det høylytt krangel og roping da Demokratenes senatorer etterlyste mer beskyttelse til arbeidere og restriksjoner på hjelp til selskaper som er blitt reddet av staten.


Redigert 23.03.2020 kl 22:47 Du må logge inn for å svare
Pick Up
24.03.2020 kl 07:55 1641

(Skrevet for 7 dager siden)

Pick Up
17.03.2020 kl 08:255527

En liten gratis analyse i all beskjedenhet fra meg. Det er jo nå på dagens lave prisnivå at Saudi og Russland virkelig har sjansen til å ta rotta på sin verste konkurrent, USA skiferindustri og produsere for fullt så prisene skrus ned til et nivå som slår ut skifer.
Men hva er alternativet for Russland og Saudi til priskrig? Enighet om prodkutt så amerikansk skiferindustri kan være alene om markedet, produsere for fullt og ta nye verdifulle markedsandeler mens de andre sitter med henda i fanget? Neppe! Hvis nå Russland gjenopptar kontakten med Saudi etter å ha sagt seg uenig i prodkutt, er det for å bli enig om en ny agressiv strategi. Tenker jeg. For å slå ut USA skifer!

Pick Up
24.03.2020 kl 08:00 1620

Oil Majors Are Preparing For $10 OilBy Nick Cunningham - Mar 23, 2020, 8:00 PM CDT

Join Our Community

The wave of oil industry spending cuts continues, with the majors now announcing significant reductions to spending as oil remains stuck in the $20s.  Royal Dutch Shell said on Monday that it would cut spending by 20 percent, or about $5 billion, and also suspend its share buyback plan. French oil giant Total SA and Norway’s Equinor announced similar moves.

ExxonMobil and Chevron have suggested they too would be axing their budgets, with Exxon under particular pressure. Goldman Sachs estimates that Chevron needs $50 per barrel in order to cover spending and its dividend. ExxonMobil, on the other hand, needs something like $70. 

The majors are relatively more insulated from the downturn than small and medium-sized shale drillers because they have downstream refining and petrochemical assets that have typically performed somewhat better than upstream units when prices fall. Refineries, for instance, spend less on oil during the downturn, and low prices also translate into a boost in sales of refined products. 

But the majors do not have that cushion this time around. We are in the midst of a historic meltdown – a supply crisis and a demand event with no precedent. Estimates vary, but oil consumption could be off by 10 million barrels per day (mb/d), or more. It doesn’t matter how cheap crude is, if people are not driving, flying or consuming anything aside from the bare essentials, there is no demand boost from low prices. 

On Monday, Exxon announced that it was cutting production at its Baton Rouge refinery, the company’s second largest in the U.S., because poor demand has filled up storage tanks. Exxon also cut 1,800 contractors from the site. In another example, a major closely-watched petrochemical project in Appalachia may not go forward as the market sours.

The first round of spending cuts from the oil industry is now visible, but a second round is beginning, according to a report from Goldman Sachs. 

Related: Canada Braces For Oil Cuts As Storage Nears Limit

“We see US oil production falling almost 1.4 mn bpd over five quarters post 2Q20 based on reduced drilling (i.e., before considering shut-ins of existing wells that are likely to be needed) with covered company capex down 35% [year-on-year] in 2020,” Goldman Sachs wrote in a note. 

However, budget revisions are not over. The slide in spending, drilling and ultimately in output could deepen as capex cuts grow more pronounced. “There is no sugar coating it, U.S. oilfield activity will collapse with oil prices well below $30 WTI,” Raymond James said on Monday. The initial round of cuts put spending at about 45 percent below 2019 levels, the bank said. “However, the declines will be far more dramatic than these initial cuts and we stress that these announcements skew towards larger cap, better hedged and capitalized operators.” 

“Total U.S. capex is likely to fall in excess of 65% with a WTI price persisting in the $20s,” the investment bank concluded. 

Rystad Energy put out a similar estimate on Monday. E&Ps are likely to cut project sanctioning by up to $131 billion, or about 68% year-on-year, according to the Oslo-based firm. “Upstream players will have to take a close look at their cost levels and investment plans to counter the financial impact of lower prices and demand. Companies have already started reducing their annual capital spending for 2020,” says Audun Martinsen, Rystad Energy’s Head of Energy Service Research.

It's anybody’s guess how low WTI and Brent go. But more than a few analysts have pointed to the potential for storage to max out as a reason why prices have more room to fall. “[N]o one can exactly be sure that production will be shut-in fast enough to not overwhelm our ability to store oil,” JBC Energy said in a note. The firm pointed to refineries cutting processing because they are running out of storage, such as Exxon’s Baton Rouge. “In such an environment, it is as possible for Brent prices to briefly go to $10 per barrel as it was back in 1986 or 1998,” JBC concluded. 

By Nick Cunningham of Oilprice.com


Alltid oppdatert pluss gir vinner muligheter.
I aksjemarkedet gjelder det å være i forkant. "NÅ" brief holder aldri helt ok, som å trå vannet …..

Edit:
QEC Rapport 2019. Grundig markeds fokus og fordypning - micro og macro. Perspektiver fem, ti femten år.
Akkurat nå er det unntakstilstand, - hvilket klassisk tilsier å holde seg unna til markedet vender opp igjen.
Pick Up
24.03.2020 kl 08:13 1573

Verdifulle stikkord i disse tider. Lavt prisede børslokomotiver og utbytteaksjer som ikke brekker ryggen under krisen.
Redigert 24.03.2020 kl 08:14 Du må logge inn for å svare
XL2016
24.03.2020 kl 08:17 1549

Jeg ville sagt

Den som kjøper nå - blir rik.

Binnion har vel 19 mill aksjer og har fortsatt 19 mill aksjer.

Jensi
24.03.2020 kl 08:25 1523

vi er vidner til at QEC bliver kuppet til billig penge !
Desværre for det
Pick Up
24.03.2020 kl 08:26 1520

XL 2016
Hvis JV partner nå stenger ned, får Qec ikke engang glede av den lave oljeprisen. Qecs likividitetsbehov ble omtalt av Binnion i sommer og beskrevet i siste rapport.

PS
I disse koronatider går også Binnions nyervervede skiresort dårlig. Det er ikke bare aksjeposten i Qec som sliter.
Redigert 24.03.2020 kl 08:34 Du må logge inn for å svare
XL2016
24.03.2020 kl 08:52 1440

SPXL, PU, IT, PP, SM og Ch85

Kjøper med begge hender nå?:)) med de gode rådene deres.

Alt faset ut, - solgt i går og dag :)
Lykke til videre!
LATO
24.03.2020 kl 14:36 1074

Lykke til videre!! QEC kommer tilbake og jeg har lagt aksjene i Safe.

Over og ut🎉🎉

Takk, LATO :)
Kommer mye mulig tilbake etter hvert!

God middag!

kronerulling skrev Solgt deg ut?
Ja :) kronerulling

Frågade Jason angående denna mening i rapporten.
We are optimistic about reducing costs based on the recent FEL-2 engineering work completed by Red Leaf on the EcoShale process.

Ett lite försiktigt svar.

Hi

It went quite well. The FEL2 work completed by Red Leaf primarily for the Utah project resulted in a reduction in their costs for the project.
LATO
24.03.2020 kl 22:02 634

Kommer nok etterhvert. Ledelsen er endelig ute av boblen og ser oss aksjonærer.

Men når ligger jeg aksjene i skuffen!

Siste tekniske signaler Overvåk
23 mar.
Stochastic indikerer at instrumentet er oversolgt, og har økt interesse.
Stochastic rundt nivå 20, og økende volum.

Stochastic: 4
Dette kan indikere at aksjen er oversolgt. Dette er teoretisk sett et positivt tegn.

Income StatementQuarterlyAnnual
-35
0
35
70M
Q1 2019
Q2 2019
Q3 2019
Q4 2019
-102
232
566
900%
Q4 2019 (Millions CAD)
Revenue 8.34
Net Income 67.41
Profit Margin 808.42%
Balance SheetQuarterlyAnnual
0
175
350M
Q1 2019
Q2 2019
Q3 2019
Q4 2019
4
6
8%
Q4 2019 (Millions CAD)
Total Assets 318.06
Total Liabilities 49.41
Debt to Assets 5.19%