UPDATE: Questerre Energy to Develop Shale Opportunities in North America; Shares Up 3%
Questerre Energy Corporation (QEC.TO) started today's session unchanged at 61 cents but has now moved up to 63 cents after a 3% rise, moving further away from year low 59 cents, after announcing that it has entered into a letter of intent to develop oil shale opportunities in North America.
Michael Binnion, President and Chief Executive Officer, commented, "We expect oil from shale will become the foundation of our unconventional oil strategy. Through this letter of intent, we will participate, both directly and indirectly, in the development of an existing oil shale project and a new project both in the western United States. We will also have access to the processes and technology for any oil shale projects developed by Questerre."
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