Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

August 31, 2009 00:15 ET

QEC Announces St. Edouard #1 Tests Over 2 mmcf/d

CALGARY, ALBERTA--(Marketwire - Aug. 31, 2009) -

NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to report on the Utica test results from the St. Edouard #1 well in the St. Lawrence Lowlands, Quebec.

The primary zone of interest within the middle Utica was fracture stimulated in late July. Over a 10-day test, the well flowed at initial rates of 2.6 mmcf/d with an average rate of over 700 mcf/d on a one-inch choke. The well is currently shut-in for buildup to gather additional pressure data.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, "Another positive result from the middle Utica at St. Edouard #1 correlates with our results across the basin. We have now confirmed effective rock properties and encouraging stable gas rates for an area extending over 100 km from St. David #1 to St. Edouard #1."

Questerre and the operator are currently reviewing potential locations for horizontal wells adjacent to the existing vertical test wells. The Company expects the first horizontal well to be located at the St. Edouard #1 site with spud scheduled this fall.

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.

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.

Contact Information

  • Questerre Energy Corporation
    Anela Dido
    Investor Relations
    (403) 777-1185
    (403) 777-1578 (FAX)
    info@questerre.com