Questerre Energy (QEC.TO) Buy, Sell or Hold

Questerre Energy (QEC.TO)

0.27

+0.01 (1.92%)

as of Jun 15, 2026, 7:59:50 pm Market Open.

29 watching

HOLD

(Market Call Minute) If you are in it you are speculating on the Utica shell gas play and TLM is going to drill another couple of holes.

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HOLD

Announced they have potential for over 4 PCF of gas. Located in Quebec. Predicated on your belief in gas prices, which will depend on the weather. Given the lack of drilling and the decline rates inventory levels should quickly correct.

WAIT

Natural gas. Thinks this will do reasonably well in the long term. Near-term outlook for natural gas is very poor. Expecting a major drop in natural gas stock prices in April/May. That would be the time to buy.

BUY

Primary asset is their shale play in the Quebec low lands. Partnered with Forrest Oil (FST-N) and Talisman (TLM-T). Talisman is expected to do a few wells this fall, which should create some interesting news. Market is extremely negative on natural gas but he is expecting commodity prices to rise including natural gas.

DON'T BUY

One of the names that will require capital to get to the next level to get into massive production. When you overlay that with poor natural gas prices you have to wonder where the upside is going to be. Likes the company and management.

COMMENT

Natural gas price is low. People are writing it will never go up again. This is when you want to be in it. It might be a year before it goes up but you need something that will not go bust before then. Simplest thing is to own the lowest cost producer with a clean balance sheet. This one sits in the category of “potential gas company” but it could be trapped if they cannot obtain funds. This is a question of timing. (See Top Picks.)

DON'T BUY

Shale gas in Quebec. Results have been encouraging and long-term prospects are very good. Such an early stage and with no infrastructure it could take some time, possibly 8 to 10 years. Speculative. (See Top Picks.)

TOP PICK

While they have some producing natural gas assets in Western Canada, the big story is a shale play in the Quebec low lands, which is not producing currently but is a big resource. Partners are Talisman (TLM-T) and Forrest Oil (FST-N). There should be some good news flow over the summer and into the 3rd quarter.

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BUY

Talisman (TLM-T) just came out with a well in the Utica Shale play producing 1,000,000 MCF, which is actually pretty good because when the display works out they'll do horizontal (multi-fraqing) and will probably be able to produce 3 to 5 times more. All the juniors in this area should benefit.

PAST TOP PICK

(A Top Pick April 29/08. Down 42.1%.) Was concerned last fall about anything in the resource area so he sold this. Still believes in this company and the Utica Shale in Quebec.

HOLD

(Market Call Minute.) There will be more drilling occurring and as the news of the drilling comes out, there will probably be a better price on it.

COMMENT

Partnered with Talisman (TLM-T) and Forrest Oil (FST-N) on Utica shale gas play in Quebec. Biggest of the juniors in this area. Price of gas is somewhat irrelevant for this play as it is a long-time play. It won't happen in the next year or two. Very early stage so it is a risk. If you have tolerance for risk, an interesting way to do it.

DON'T BUY

Partner Forest Oil (FST-N) came out with some poorer data regarding newer wells. Cash position is okay. Wouldn't be surprised to see them do a flow-through issue this year. Will probably be more bullish on this because of their natural gas but he is not there yet. Could be in the summertime.

WAIT

Had a huge run-up last year and then fell apart with the junior market. Did a well-timed financing. Expect to see some results in the near future. Still early stages so he is concerned that they could come out with results that the market would not be happy with. That could provide a buying opportunity.

HOLD

Unconventional gas play. Likes Utica Shale. Early-stage so it is riskier. In the short-term, it doesn't matter because it will not be a meaningful producer until 2010/2011.

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