Globe says Questerre, Junex lead Quebec's gas rush
2008-06-11 07:03 ET - In the News
Also In the News (C-JNX) Junex Inc
The Globe and Mail reports in its Wednesday edition that one of North America's hottest energy plays is the lower St. Lawrence River region. The Globe's inside poopmeister Andrew Willis writes in the Streetwise column that in three short months, the Quebec gas rush has turned a pair of obscure companies into 10-baggers -- Questerre Energy and Junex have done.
The speed of the ascent, and the sudden appearance of large dealers on financings traditionally done by boutique houses, speaks to the increasingly competitive dynamics of this energy market. This story opens on April Fool's Day, when Denver-based Forest Oil announced promising results after a year-long drilling program in the St. Lawrence Lowlands and Gaspe peninsula. Drilling is in Utica shale. Forest planned a more ambitious drilling program.
Long-dormant Questerre and Junex held drilling rights in the area. Talisman Energy announced a $130-million drilling program in Quebec in late May, and that set the stage for stock sales from the juniors that needed to finance drilling programs.
When Questerre launched a pair of financings in early June and raised $75-million, it named Dundee Securities lead investment bank.
2008-06-11 07:03 ET - In the News
Also In the News (C-JNX) Junex Inc
The Globe and Mail reports in its Wednesday edition that one of North America's hottest energy plays is the lower St. Lawrence River region. The Globe's inside poopmeister Andrew Willis writes in the Streetwise column that in three short months, the Quebec gas rush has turned a pair of obscure companies into 10-baggers -- Questerre Energy and Junex have done.
The speed of the ascent, and the sudden appearance of large dealers on financings traditionally done by boutique houses, speaks to the increasingly competitive dynamics of this energy market. This story opens on April Fool's Day, when Denver-based Forest Oil announced promising results after a year-long drilling program in the St. Lawrence Lowlands and Gaspe peninsula. Drilling is in Utica shale. Forest planned a more ambitious drilling program.
Long-dormant Questerre and Junex held drilling rights in the area. Talisman Energy announced a $130-million drilling program in Quebec in late May, and that set the stage for stock sales from the juniors that needed to finance drilling programs.
When Questerre launched a pair of financings in early June and raised $75-million, it named Dundee Securities lead investment bank.