Questerre Energy Corporation

Questerre Energy Corporation

January 18, 2007 00:15 ET

Questerre Announces GPP Approval for Vulcan Gas Pool

CALGARY, ALBERTA--(CCNMatthews - Jan. 18, 2007) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSE:QEC) announced receipt of regulatory approval to commence field production in Vulcan.

The operator, Stylus Energy Inc., recently reported that the Alberta Energy and Utilities Board ("AEUB") has approved its Good Production Practice ("GPP") and concurrent production application for the Vulcan Basal Mannville G Pool (the "G Pool"). With the production infrastructure to produce the G Pool in place, the operator will place the shut-in wells in the G Pool on production shortly.

With this production on-stream, Questerre expects its daily production to average approximately 1,600 boe.

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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