Questerre and Talisman Accelerate Shale Gas Program in Quebec
12:15 AM ET, July 29, 2009
CALGARY, ALBERTA, Jul 29, 2009 (Marketwire via COMTEX) -- NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Questerre Energy Corporation ("Questerre" or the "Company") (QEC)(OSLO:QEC) is pleased to announce that, with its partner, Talisman Energy Canada ("Talisman"), it plans to spud at least two horizontal wells later this year to test the Utica shale in the St. Lawrence Lowlands, Quebec.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The work done by Talisman to evaluate the shale gas potential of our joint acreage has been invaluable. With the success of our primary zone in all the tested vertical wells we believe the Utica has demonstrated it has the right rock properties."
Mr. Binnion further added, "These encouraging results were instrumental in our commitment to drill horizontal wells targeting this specific zone within the Utica. We look forward to the beginning of the pilot phase with full-length horizontals with multi-stage fracs to prove up the commerciality of this play."
Talisman has completed its earning obligations by drilling and testing four wells to earn a 75% working interest in approximately 720,000 acres in the Lowlands. In addition to an approximate 25% working interest in this acreage, Questerre also retains a 4 1/4% gross overriding royalty on production from Talisman.
Testing of the Utica shale interval in the fourth well, St. Edouard #1 is underway with preliminary results expected in early August. Subject to the final results, Questerre and Talisman will evaluate pilot locations for horizontal wells adjacent to the vertical test wells.
This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company's plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein.
This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.
Questerre is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada.
SOURCE: QUESTERRE ENERGY CORPORATION
Questerre Energy Corporation
Anela Dido
Investor Relations
(403) 777-1185
(403) 777-1578 (FAX)
[email protected]
Med venlig hilsen
Hegu
12:15 AM ET, July 29, 2009
CALGARY, ALBERTA, Jul 29, 2009 (Marketwire via COMTEX) -- NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Questerre Energy Corporation ("Questerre" or the "Company") (QEC)(OSLO:QEC) is pleased to announce that, with its partner, Talisman Energy Canada ("Talisman"), it plans to spud at least two horizontal wells later this year to test the Utica shale in the St. Lawrence Lowlands, Quebec.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The work done by Talisman to evaluate the shale gas potential of our joint acreage has been invaluable. With the success of our primary zone in all the tested vertical wells we believe the Utica has demonstrated it has the right rock properties."
Mr. Binnion further added, "These encouraging results were instrumental in our commitment to drill horizontal wells targeting this specific zone within the Utica. We look forward to the beginning of the pilot phase with full-length horizontals with multi-stage fracs to prove up the commerciality of this play."
Talisman has completed its earning obligations by drilling and testing four wells to earn a 75% working interest in approximately 720,000 acres in the Lowlands. In addition to an approximate 25% working interest in this acreage, Questerre also retains a 4 1/4% gross overriding royalty on production from Talisman.
Testing of the Utica shale interval in the fourth well, St. Edouard #1 is underway with preliminary results expected in early August. Subject to the final results, Questerre and Talisman will evaluate pilot locations for horizontal wells adjacent to the vertical test wells.
This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company's plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein.
This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.
Questerre is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada.
SOURCE: QUESTERRE ENERGY CORPORATION
Questerre Energy Corporation
Anela Dido
Investor Relations
(403) 777-1185
(403) 777-1578 (FAX)
[email protected]
Med venlig hilsen
Hegu
29/7 2009 10:50 collersteen 0
15950 Det lyder godt. Endnu et skridt i retning af en (forhåbentlig særdeles indbringende) validering af casen....
Man kan andet end beundre ledelsen af Questerre for den måde de har formået at styre igennem krisen. Måske timingen af kapitalrejsningen og Lowlands resultaterne var mere held end forstand ift. finanskrisen, men de har indtil nu udnyttet de muligheder der har været for at rejse penge og holde selskabet igang uden at lave en "TSU".
Cash is king.
Man kan andet end beundre ledelsen af Questerre for den måde de har formået at styre igennem krisen. Måske timingen af kapitalrejsningen og Lowlands resultaterne var mere held end forstand ift. finanskrisen, men de har indtil nu udnyttet de muligheder der har været for at rejse penge og holde selskabet igang uden at lave en "TSU".
Cash is king.
30/7 2009 21:18 Gjern 016081 Tilbage fra ferie er det godt at se nyt positivt nyt fra TLM/QEC og så er der mere her, men fra Horn River i British Columbia delstaten i Canada, hvor QEC for kort tid siden købte rettighederne til endnu et areal. Mr. Binnion har vist gjort en god handel til glæde for vi aktionærer fremover. Læg mærke til, at der er godt nyt både vedr. fundne mængder og omkostningerne ved udvindingen.
Er kopieret fra www.agoracom.com:
This can only mean good news for QEC...
Recent Wells Strengthen Apache's Horn River Resource Assessment
HOUSTON, July 30 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE, Nasdaq: APA) said today that recent drilling results at the Horn River shale play of Northeast British Columbia have strengthened earlier estimates that individual horizontal wells in the play potentially can recover 10 billion cubic feet of natural gas.
Three recent wells at Two Island Lake, operated by joint venture partner EnCana, have been brought on line at gross initial production rates of more than 16 million cubic feet (MMcf) per day and continue to produce 8-10 MMcf per day after two to three weeks.
Apache and EnCana pioneered the shale play in the Horn River Basin and each has a 50-percent interest in 425,000 gross acres - the leading acreage position in the play. Apache tested the shale potential in a recompletion of a vertical well in the Ootla area in March 2005. Thus far, the two companies have drilled 28 wells and brought 10 horizontal wells on production, and expect to have 32 wells on production by the first quarter of 2010.
Apache and EnCana have increased fracture stimulations to as many as 14 stages per horizontal section. "Drilling costs have come down as we have gained experience and become more efficient, reducing the time needed to drill a well to as little as 16 days from a planned 30 days when we started," said John Crum, Apache's co-chief operating officer and president - North America. "With the potential to drill 2,000 to 3,000 locations from multi-well pads, we have a tremendous resource at Horn River that will be developed over many years."
The partners also commissioned a new compression and dehydration facility as well as a gas gathering pipeline that connects the Two Island Lake area with the Spectra pipeline system near the proposed Cabin gas plant.
Er kopieret fra www.agoracom.com:
This can only mean good news for QEC...
Recent Wells Strengthen Apache's Horn River Resource Assessment
HOUSTON, July 30 /PRNewswire-FirstCall/ -- Apache Corporation (NYSE, Nasdaq: APA) said today that recent drilling results at the Horn River shale play of Northeast British Columbia have strengthened earlier estimates that individual horizontal wells in the play potentially can recover 10 billion cubic feet of natural gas.
Three recent wells at Two Island Lake, operated by joint venture partner EnCana, have been brought on line at gross initial production rates of more than 16 million cubic feet (MMcf) per day and continue to produce 8-10 MMcf per day after two to three weeks.
Apache and EnCana pioneered the shale play in the Horn River Basin and each has a 50-percent interest in 425,000 gross acres - the leading acreage position in the play. Apache tested the shale potential in a recompletion of a vertical well in the Ootla area in March 2005. Thus far, the two companies have drilled 28 wells and brought 10 horizontal wells on production, and expect to have 32 wells on production by the first quarter of 2010.
Apache and EnCana have increased fracture stimulations to as many as 14 stages per horizontal section. "Drilling costs have come down as we have gained experience and become more efficient, reducing the time needed to drill a well to as little as 16 days from a planned 30 days when we started," said John Crum, Apache's co-chief operating officer and president - North America. "With the potential to drill 2,000 to 3,000 locations from multi-well pads, we have a tremendous resource at Horn River that will be developed over many years."
The partners also commissioned a new compression and dehydration facility as well as a gas gathering pipeline that connects the Two Island Lake area with the Spectra pipeline system near the proposed Cabin gas plant.
