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Share Name | Share Symbol | Market | Type |
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Ose Corp. | TSXV:OSE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that is has filed a preliminary prospectus with the securities regulators in Canada for its recently announced Canadian equity placement. The placement will consist of the issuance of 7.50 million common shares at $4.70 per common share conducted by a syndicate of underwriters led by Dundee Securities Corporation. In preparing the prospectus, Questerre revised calculations of non-cash items of Depletion and Future Tax Asset as at and for the three months ended March 31, 2008. Accumulated Depletion has increased from $60,548,352 to $61,198,352, an increase of $640,000 and the Future Tax Asset has decreased by $170,000 to $3,209,481 as at March 31, 2008. In connection with the revised calculations, Questerre has filed amended and restated financial statements and management's discussion and analysis as at and for the three months ended March 31, 2008. Questerre's cash flow from operations remains unchanged at $3.94 million for the first quarter of 2008. Subject to filing and receipt of the final prospectus, anticipated to occur in early June, it is expected that the prospectus will facilitate the issuance and listing of the 7.50 million common shares issued in Canada on the Toronto Stock Exchange ("TSX") and Oslo Stock Exchange ("OSE"). Closing of the previously announced Norwegian offering, anticipated to occur this week, will result in an additional 7.50 million common shares being issued in Norway at 23.80 NOK (C$4.70) per common share and listed for trading on OSE upon receipt of the final prospectus. Upon receipt of the requisite documentation, these additional shares will also be listed on the TSX. Questerre is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada. This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company's plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein. This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.
1 Year Ose Corp. Chart |
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