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The latest update is out from Questerre ( (TSE:QEC) ).
Questerre Energy Corporation plans to consolidate its ownership in Red Leaf Resources by exchanging Red Leaf common shares for Questerre Common Shares. This move is part of Questerre’s strategy to enhance its oil shale operations, utilizing Red Leaf’s patented HCCO® technology for oil production with integrated carbon capture. The acquisition, valued at US$7.5 million, is expected to strengthen Questerre’s position in the oil shale market, with implications for operations in Utah, Jordan, and Brazil.
The most recent analyst rating on (TSE:QEC) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Questerre stock, see the TSE:QEC Stock Forecast page.
More about Questerre
Questerre Energy Corporation is an energy technology and innovation company focused on leveraging its expertise in low permeability reservoirs to acquire high-quality resources. The company aims to balance economic, environmental, and societal factors in the oil and gas industry, emphasizing transparency and public involvement in energy decisions.
Average Trading Volume: 30,442
Technical Sentiment Signal: Buy
Current Market Cap: C$128.6M
Learn more about QEC stock on TipRanks’ Stock Analysis page.