Re: Yesterday I emailed QEC, and here comes the answers....
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Mar 09, 2011 05:57PM
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Rocco90,
I think what’s needed is a common statement fro bout Questerre and Talisman it could be that the marked do not believe Questerre and think that Talisman will delay the exploration.
It was also an article out from Reuters, maybe you can comment on this, I did not think Dundee will to be so negative, or is it Reuters translation.
By the way you are doing a fantastic job, thank you
(Reuters) - Questerre Energy Corp shares fell as much as 25 percent on Wednesday after the Quebec government halted shale gas exploration in the Canadian province.
Shares of Questerre, which is focused on developing its Quebec shale gas discoveries, were down 37 Canadian cents at C$1.22 by midmorning on the Toronto Stock Exchange after earlier touching C$1.20. Volume was 1.7 million, nearly twice the average over the past three months.
Quebec Environment Minister Pierre Arcand put a ban on new drilling after a report recommended the province needed a complete environmental assessment for shale gas development.
The only drilling that will be allowed during the moratorium will be for research purposes.
Though Quebec has some promising shale gas deposits, development of those finds has faced opposition from groups concerned that drilling will result in pollution and affect the quality of life in nearby communities.
"Ultimately, this means more delays and uncertainties in an already delayed development scenario," Grant Daunheimer, an analyst with Dundee Securities said in a research note. "Given the headlines, we may not see any material news from the play for up to 24 months."