Re: February 23, 2010 - Utica well tests at 12 MMcf/d
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Feb 23, 2010 01:18PM
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Galois. I used google to translate this, I think It's pretty good:
Peder Paus Nicolas is chairman, co-founded and owns 5.4 million Questerre shares.
- It's very exciting that through this test verified our well on your way to the commercialization of the field. There are a lot of work put into this and the large investments that are taken, "said Paus to Hugin Online.
Questerre was founded in 2000, but Binnon and Paus was already in another company, which owned all rights in Quebec. These were brought into the Questerre, and laid the foundation for the company.
- Preliminary Questerre has no debt, and it is very positive. We are holding fairly liquid assets in the bank and we can deal with us through the years with these, "said Paus.
Chairman pointed out that the potential is at 4.2 trillion cubic feet of shale gas, and does not exclude therefore not an issue in the future.
- It's only natural that the company must expand both its capital base and its borrowing base over time. Mon is offered to share issues constantly, but so far we have declined, "he says.
- Do you see any rocks in the sea for Questerre?
- When we and Talisman will build out a new field, there are challenges with the environmental, pipeline and integration with society, "he says.
Chairman pointed out that the Quebec province has been a net importer of gas for $ 15 billion per year. Over time, Questerre could cover a lot of demand in the province.
- How is it that a Norwegian is so active in Canada?
- On my resume it says that I have worked abroad for 30 years. With oil, energy and banking. I have worked with Michael Binnon almost 20 years, "said Paus.
- Are today's top new 2008-top, or will the recovery continue to share?
- It's a very good question. Then the top came in 2008 when it was based on expectations, and had not tested the whole field. It had not taken all the drill samples, analyzed all drill samples or made vertical holes. Now we have made 7.8 a hole, and then we tested the horizontal wells, where we have verified the expectations [from 2008 Journ. ed] on a completely different way, "he says.
- It seems much more sustainable today than then. The time had not defined fairways. As you know, hate a golfer be rough, and now the entire field of Questerre the fairways, chuckles Paus.