Squa­tex dis­so­ci­ates it­self from QOGA-sup­ported law­suit

Stockwatch Daily - - ENERGY - An anony­mous di­rec­tor re­ports

SQUA­TEX EN­ERGY and Re­sources Inc. is dis­so­ci­at­ing it­self from the al­leged le­gal ac­tions re­cently taken against the govern­ment of Que­bec con­cern­ing the reg­u­la­tion of hy­dro­car­bons.

It was pub­licly stated that this law­suit was made on be­half of Que­bec’s oil and gas com­pa­nies, and that it was sup­ported by the Que­bec Oil and Gas As­so­ci­a­tion (QOGA). How­ever, it should be noted that Squa­tex En­ergy and Re­sources is not part of the QOGA and has never been con­sulted. Squa­tex En­ergy and Re­sources dis­so­ci­ates it­self from the afore­men­tioned sup­port for the pros­e­cu­tion.

Let a chance to the new govern­ment

The new Que­bec govern­ment has just taken of­fice and it is nor­mal for its mem­bers, and par­tic­u­larly the Min­is­ter of En­ergy and Nat­u­ral Re­sources, to take the time to get to know its many files and to po­si­tion them­selves on var­i­ous so­ci­etal is­sues, in­clud­ing the ex­plo­ration and ex­ploita­tion of hy­dro­car­bons.

The man­age­ment of Squa­tex En­ergy and Re­sources means to the govern­ment of Que­bec, the mu­nic­i­pal­i­ties and the cit­i­zens that it in­tends to con­tinue work­ing with its stake­hold­ers, as well as the var­i­ous lev­els of govern­ment, to im­ple­ment projects that are part of a rea­son­able, struc­tur­ing and sus­tain­able man­age­ment of Que­bec’s oil and gas re­sources.

To this end, Squa­tex En­ergy and Re­sources will soon be ask­ing for a meet­ing with the Min­is­ter of En­ergy and Nat­u­ral Re­sources to dis­cuss is­sues re­lated to the oil and gas sec­tor, and, in par­tic­u­lar, to re­view cer­tain reg­u­la­tions pre­sented in June, 2018, by for­mer Min­is­ter Moreau which seem in­ap­pro­pri­ate and de­serve to be re-ex­am­ined and mod­i­fied.

Squa­tex En­ergy and Re­sources’ vi­sion

Squa­tex En­ergy and Re­sources’ man­age­ment firmly be­lieves that it is im­per­a­tive that the devel­op­ment of hy­dro­car­bons in Que­bec be done in ac­cor­dance with the cul­ture and tra­di­tions of Que­bec, par­tic­u­larly in terms of con­sul­ta­tion and so­cial di­a­logue.

In­deed, this tra­di­tion of di­a­logue, rooted in the his­tory of Que­bec, has demon­strated that it al­lows the es­tab­lish­ment of sus­tain­able na­tional ob­jec­tives and con­sis­tent plans for govern­ment ac­tion.

About Squa­tex En­ergy and Re­sources Inc.

The main ac tiv ity of Squa­tex En­ergy and Re­sources is, as op­er­a­tor, to carry out works and stud­ies aim­ing at the eval­u­a­tion and the full devel­op­ment of the oil and gas po­ten­tial of a ter­ri­tory of 656,093 hectares un­der ex­plo­ration li­cence (70 per cent net). Squa­tex En­ergy and Re­sources holds 224,933 hectares of ex­plo­ration per­mits in the St. Lawrence Low­lands and 431,160 hectares of per­mits in the Lower St. Lawrence re­gion.

We seek Safe Har­bor.

Jean Claude Caron, Rene Gui­mond, Rene La­marche, Mario Levesque, Steve Sur­veyer

(SQX) Shares: 123,850,656

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