Questerre Energy enters mediation with Quebec government

Calgary, Alberta-based energy technology company Questerre Energy Corporation has entered into a mediation protocol with the Attorney General of Quebec and the Quebec Ministry of the Economy, Innovation and Energy, marking a significant step in ongoing court proceedings. This development involves five separate plaintiffs, including Utica Resources Inc. and its affiliates.

The mediation pertains to Quebec Superior Court files 200-17-028534-188, 200-17-033326-224, and 200-17-032721-219. The process will be overseen by a mediator selected through mutual agreement, and mediation sessions will be held in Quebec City. Under the terms of the protocol, the parties have jointly requested a 120-day deferral of the next steps in the court timetable for these cases, effective from the date of signature.

Questerre, known for its focus on responsible oil and gas resource development, stated that the mediation is voluntary and non-binding, with no obligation for any party to reach an agreement. The company emphasized the confidentiality of the process and its intention not to comment further on the proceedings or mediation, except as required by securities law.

"This mediation protocol is a constructive step towards resolving the ongoing legal disputes through dialogue and negotiation," said a Questerre spokesperson. "Our goal is to ensure that any future developments are handled in a transparent and collaborative manner, which aligns with our commitment to sustainable energy practices."

The company's forward-looking statements, included in the press release, caution that despite the positive developments, there are numerous risks and uncertainties that could impact the outcome. These include exploration and production risks, volatile oil and gas prices, and regulatory challenges, among others.

"While we are optimistic about this mediation process, we remain vigilant about the potential risks," the spokesperson added. "Our focus remains on navigating these challenges in a manner that upholds our standards of responsibility and innovation in the energy sector."

Questerre's ongoing efforts in this mediation process reflect its dedication to addressing legal and environmental concerns in a balanced and strategic manner. The company will continue to operate under the guidance of its legal and regulatory obligations, ensuring that its operations align with both corporate and public interests.