Questerre Energy Corporation

Questerre Energy Corporation

November 11, 2005 00:19 ET

Questerre and Stylus Announce Vulcan Drilling Results

CALGARY, ALBERTA--(CCNMatthews - Nov. 11, 2005) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC) and Stylus Energy Inc. ("Stylus") reported today on the preliminary results of the delineation drilling on their Mannville new pool discovery at Vulcan, Alberta. Questerre and Stylus (Operator) each have a 50% working interest in the two delineation wells drilled to date.

The first delineation well, located at 14-28-15-25W4M (the "14-28 well"), is east of the significant discovery well located at 16-29-15-25W4M (the "16-29 discovery well") and encountered gas. A ten-day test of this well was concluded on November 9, 2005. In the final 9 hours of the test, the well flowed at a stabilized rate of 4.2 million cubic feet per day ("mmcf per day") of natural gas with 11 bbls per mmcf of natural gas liquids on an 8.73 millimetre (11/32 inch) choke. During the test period, the maximum flow rate was restricted to 8.1 mmcf per day. The calculated Absolute Open Flow (AOF) potential of the 14-28 well is estimated at 38.0 mmcf per day.

The second delineation well, located at 6-32-15-25W4M (the "6-32 well"), is northwest of the 16-29 discovery well and was drilled to evaluate the thickness of the oil column. The 6-32 well encountered the target zone. The completion resulted in the production of minor gas with no formation water or commercial quantities of oil.

The purpose of the delineation drilling is to determine the extent of the gas and oil column related to the 16-29 discovery well previously reported by Questerre and Stylus on July 4, 2005. On August 15, 2005, Stylus reported the 16-29 discovery well tested oil at 159 barrels ("bbls") per day and gas at 1.04 mmcf per day for a combined average rate of 332 boe per day.

A third delineation well is expected to commence drilling on November 17, 2005. The objective of this well is to aid in determining the size of the oil pool associated with the 16-29 discovery well. If the third delineation well is a successful oil well, the gas will likely remain shut-in to assist in recovery of the oil.

A 5.5 kilometre gas pipeline to the 16-29 discovery well is 50 percent complete, and the balance of the pipeline installation requires frozen conditions that are expected in late November 2005. Upon completion of the gas pipeline, oil and gas production from the 16-29 discovery well is expected to be on-stream at restricted rates pending an application to the AEUB for Good Production Practice status for the pool.

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.

Stylus Energy Inc. is an Alberta exploration and production company focused in southern and northeastern Alberta. Stylus common shares are listed on the Toronto Stock Exchange under the symbol "STY". Further information with respect to Stylus can be found at its website at

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, 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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