CALGARY, ALBERTA–(Marketwired – June 12, 2014) – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX:QEC)(OSLO:QEC) announced that, at its annual and special meeting of shareholders held on June 11, 2014 (the “Meeting”), Earl Hickok joined the Board of Questerre.
Peder Paus, Chairman of Questerre, commented, “We are very pleased to have Earl join our Board. His extensive engineering background will be important as we accelerate the development of our Montney acreage in the Kakwa-Resthaven area of Alberta.”
Mr. Hickok is a professional engineer with over thirty years of experience in the upstream oil and gas industry, including operations, engineering and management. He is currently President and Chief Executive Officer of TSO Energy Corp., a private exploration and production company. Prior thereto, he was President, Chief Operating Officer and a Director of TUSK Energy Corp. Mr. Hickok holds a Bachelor of Engineering degree from Lakehead University in Ontario and is a registered professional engineer with APEGA.
Questerre also announced that Les Beddoes has retired from the Board. Mr. Beddoes is one of the founding shareholders of the Company. The Board would like to thank him for his invaluable contribution over the last 14 years.
The Company also reported that at the Meeting, each of the six nominees proposed as directors and listed in its management information circular dated May 14, 2014 (the “Circular”) were elected as directors. The detailed results of the vote are set out below.
|Nominee||Votes For||Votes Withheld|
|Alain Sans Cartier||81,650,968||76,328|
The Company further reported that at the Meeting, shareholders of the Company also confirmed an amendment to the Company’s by-laws relating to advance notice for nomination of directors as set forth in the Circular. A copy of the Circular has been filed on SEDAR at www.sedar.com.
Questerre is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is a leader on social license to operate issues for its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec. In conjunction with a supermajor, it is at the leading edge of commercializing a proven process to unlock the massive resource potential of oil shale.
This media release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including accelerating the development of its Montney acreage in the Kakwa-Resthaven area of Alberta, leveraging the Company’s expertise gained through early exposure to shale and other non-conventional reservoirs, bringing on production in the heart of the high-liquids Montney shale fairway and the commercialization of oil shale. Although Questerre believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to Questerre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Questerre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
This news release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of US persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Questerre Energy Corporation
(403) 777-1578 (FAX)