Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

December 15, 2009 00:49 ET

Questerre Energy Corporation: Second Utica Horizontal Well Commences

CALGARY, ALBERTA--(Marketwire - Dec. 15, 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) updated developments with the pilot horizontal well program for the Utica shale in the St. Lawrence Lowlands, Quebec.

The second horizontal well, Gentilly #2HZ, targeting the middle Utica spud earlier this week. The well is located adjacent to the vertical Gentilly #1 that tested at over 800 mcf/d from this interval. Total measured depth for this well is programmed at 2916m with an 800m horizontal leg.

The first horizontal well, St. Edouard #1H, was successfully drilled and cased to a total measured depth of 3181m including a 1000m leg. The fracture stimulation of the middle Utica interval is scheduled to commence in early January 2010. Subject to weather and equipment, preliminary test results are expected in the first quarter of next year.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, "We are very pleased with the progress of the pilot program. The operator did an excellent job drilling St. Edouard #1A to total depth in a highly over-pressured area. We look forward to the testing of this well in early next year and based on results, an expansion of this program."

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.

This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"). Although the Company believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to the Company. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking statements. As such, readers are cautioned not to place undue reliance on the forward looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

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.

Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil and is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead.

Contact Information

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