Questerre Energy Corporation has successfully acquired Red Leaf Resources Inc., gaining access to over several hundred million barrels of oil shale in Utah and several billion barrels in Jordan. The company now owns over 90% of Red Leaf’s common shares and plans to acquire the remaining interest. Additionally, Questerre will pay approximately US$1.6 million to acquire preferred shares from Red Leaf’s majority shareholders. Red Leaf’s assets include patented oil-shale processing technology, mineral leases in Utah, and cash and investments of US$9 million. Questerre aims to leverage its expertise to transition its energy portfolio and believes in a balanced approach to the oil and gas industry.

Read more at GlobeNewswire: Questerre closes acquisition of Red Leaf Resources Inc.