Here's the news. Translated by Google :-)
Questerre Energy: - Huge upside if the findings can be developed
12:13
(SIX): Holberg funds are optimistic about Questerre Energy
entry into the large shale gas field in the Utica Shale
North America. Holberg Funds bought into Questerre via
Holberg Norden's Fund in March.
The Holberg consider the area one of the most promising for
shale gas in North America and believe there is great upside if they
initial findings confirmed and can be commercialized.
- The initial pilot wells have yielded results far beyond
company and market expectations with flow Rates
of 5-6 mmcf / d. More test wells must be drilled to
conclude on the field size and profitability, writes Holberg
The funds in return report for March.
At present, estimates a Questerre share of the Utica area to be
in the area around 700 million barrels of oil equivalent. A good part
uncertainties remain, however: Both of the remaining
test wells, flow rates, CAPEX / well and development in gas prices.
Questerre has risen close to 24 percent in the last three months, but
has fallen nearly 20 percent from the peak of 29.2 million 23 February
years.
23. February Questerre Energy announced that they achieved an initial
rate of six million cubic feet of gas a day on average
for the first month of production at one of the company
test wells on the St. Lawrence Lowlands project in Canada. The
was very much better than expected and led to a violent
price jump of 38 percent the same day.
Today Questerre fall by 1.3 percent to 23.5 million shares.
Marthe Skaar
marthe.skaar @ six.no
SIX News Norway
Tel: +47 23326651
