Welcome To The Questerre Energy HUB On AGORACOM

(Edit this message through the "fast facts" section)

Free
Message: Re: Companies halt shale gas plans in Quebec
http://www.questerre.com/en/investorcenter/press-releases/2010/questerre-updates-activities-in-quebec/ Release in the Sept 30 press release a couple weeks back. Scroll down and read...do your own DD before posting such things... "Questerre updated the timing for completion operations on the Fortierville No. 1 and St. Gertrude No. 1 horizontal wells. The operator has recently advised that, due to higher than expected costs for the completion, it has decided not to contract the necessary equipment this fall as planned. The operator anticipates proceeding with the completions next spring when it believes it can optimize costs and operational efficiencies." And that 2014 means on a full scale production...that doesn't mean that there won't be 50-100 test pilot wells before that like is already planned. Talisman just got the got ahead for a new 10 well pilot pad in the St. Ed region. This out today: http://www.montrealgazette.com/technology/Quebec+will+continue+shale+explorations+despite+poll/3677648/story.html Quebec resource minister Nathalie Normandeau already said there won't be a moratorium on the shale gas. BAPE conferences are debunking all the protestors and that's losing steam with their arguments. Once the report comes out in a few months about the safety of drilling, then it'll be a hard go forward. Talisman CEO John Manzoni a day ago on BNN said that it's all about education and that wells are drilled so far away from the aquifers that it should never cause contamination. Talisman said it costs 25% more to get fracing equipment so they are waiting for break up...not the first time companies have waited after winter to keep going. Forest Oil will drill this winter as they mentioned in there presentation. Quebec are in a heap of debt and they need this resource badly. IMO they won't be waiting for 2014 for full drilling because if they do, these companies that own these leases won't put up the capital. They have to be met half way because Talisman and Forest have properties elsewhere. There has to be incentive and I see Quebec giving them that. Rocco

Oct 15, 2010 04:17PM

Oct 15, 2010 04:20PM

Oct 15, 2010 04:28PM

Oct 15, 2010 04:41PM
Share
New Message
Please login to post a reply