QEC_price_chart.jpgOn Friday, Questerre Energy Corp. (TSE:QEC), (PINK:QTEYF) stock lost the next 13.92% of its value on certain environmental responsibility issues.

QEC shares hit a new 52-week low, confirmed by an almost four times the average number of shares traded.

Though the strong arguments presented by the company for its environmentally responsible and socially acceptable approach, one day after the announced by QEC facts sheet for Utica Shale water use the share price fell further down. The power of that fall was as strong as it was in the beginning of the month.

Then, the suspension of any oil and gas mining activities in the basin of the estuary and northwest Gulf of the St. Lawrence River was broadly discussed, following an announcement from the Deputy Prime Minister and the Minister of Natural Resources and Wildlife.

Although Questerre Energy Corp. said that its shale gas assets in the St. Lawrence Lowlands are unaffected by the announcement, investors’ response was immediate and not so positive for QEC stock performance. In a day, QEC tumbled 27.84% down on a volume of almost 4.8 million shares, the average for the stock being 1.4 million.

QEC_from_the_site.pngAll following attempts to restore QEC price level beyond $2 per share were not appreciated by investors. QEC stock is currently worth 35% less than on the last day of September.
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Maybe this week investors will reconsider their attitude towards QEC and will reevaluate the oversold stock. Taking into consideration the company’s good financial standing and the fact that its properties will not be affected by any future governmental or local restrictions, as stated by company’s management, maybe these days QEC stock will make a price reversal and go green.

A not less important factor for QEC stock reevaluation is the fact that Questerre Energy Corp. is dedicated to a business, characterized by some experts as the “the biggest energy innovation of the decade”.