Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

November 22, 2007 00:15 ET

Questerre Announces $1 Million Private Placement

CALGARY, ALBERTA--(Marketwire - Nov. 22, 2007) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to announce that, subject to regulatory approval, it intends to complete a private placement for gross proceeds of $1 million through Desjardins Securities, a Quebec based investment dealer. The placement will consist of the issuance of 1,000,000 Common Shares on a flow-through basis at $1.00 per Common Share. The placement reflects recent interest in Quebec regarding the Company's assets in the St. Lawrence Lowlands.

Questerre Energy Corporation 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.

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