Questerre Energy Corporation

Questerre Energy Corporation

March 09, 2007 00:15 ET

Questerre Announces Preliminary Results from Gentilly #1 Well

CALGARY, ALBERTA--(CCNMatthews - March 9, 2007) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) announced today that testing is underway on the Gentilly #1 well in the St. Lawrence Lowlands, Quebec.

The Gentilly #1 well was drilled vertically to a depth of 2,529 m and was rig released on December 15, 2006. The well flowed sweet natural gas from the Trenton Black-River formation at rates of up to 4.5 mmcf/d (750 barrels of oil equivalent). Additional testing is underway to determine if the well is commercial and results are expected in four to six weeks. Questerre and its minority partners hold a 25% interest in the well. Talisman Energy Inc. has earned a 75% interest in the well and is the operator.

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.

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 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.

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