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Questerre acquires minority interest in Red Leaf
Questerre acquires minority interest in Red Leaf Canada NewsWire CALGARY, May 11...
About this update from Questerre Energy Corporation Class A
[{"type":"text","content":"\n\n\n\nQuesterre acquires minority interest in Red Leaf\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 11, 2017\n\n\n\n/THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS/\n\n\n\nCALGARY, May 11, 2017 /CNW/ - Questerre Energy Corporation (\"Questerre\" or the \"Company\") (TSX,OSE:QEC) announced today that it has made a strategic investment in Red Leaf Resources, Inc. (\"Red Leaf\"). Through an agreement with one of the vendors, Whitehorn Resources Inc. (\"Whitehorn\"), Questerre also has the option to acquire over 280 square km. prospective for oil shale in the Kingdom of Jordan (\"Jordan\"). \n\n\n \n \n\n \nMichael Binnion, President & Chief Executive Officer of Questerre, commented, \"This investment gives us a minority control block in Red Leaf. They now have over US$100 million in cash and are committed to their business plan of commercializing EcoShale technology and supporting their license holders to develop their projects. We will also have access to significant additional oil shale resources in Jordan through our agreement with Whitehorn.\"\n\nHe added, \"Their recent engineering work with Questerre on the use of coker drums as reusable capsules is encouraging for the commercial development of our project in Jordan. Combined with the initial positive results from testing our oil shale using the EcoShale process, this investment could materially accelerate the timeline for our economic feasibility work.\" \n\nAdolph Lechtenberger, Chief Executive Officer of Red Leaf, noted, \"Commercializing the EcoShale process remains our top priority. Over the last year, we have been working with Questerre on their independently assessed multi-billion barrel deposit in Jordan. This is a unique opportunity for both our companies. Red Leaf is in a solid financial position and we look forward to continuing our work to support Questerre in developing this project.\"\n\nQuesterre reported that it has entere...