Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

March 25, 2008 00:15 ET

Questerre Energy Corporation: Greater Sierra Wells on Production

CALGARY, ALBERTA--(Marketwire - March 25, 2008) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC) (OSLO:QEC) announced today that the work program at Greater Sierra has been completed ahead of schedule.

Questerre is pleased to report that its partner has completed the tie-in of two horizontal wells drilled this winter. The wells commenced production at a combined initial flow rate of approximately 4.0 mmcf/d (668 boe/d (334 boe/d net)) from the target Jean Marie Formation. Ultimate stabilized production rates will depend on several factors including reservoir deliverability, line pressure and facility constraints.

The Company also reported that the 46 square mile 3-D seismic survey was completed ahead of schedule and under budget. This survey was planned to identify drilling locations for the 2009 winter program. Subject to the results, Questerre expects to participate in 6-8 wells at Greater Sierra next year.

Questerre has completed all of its commitments under the seismic and farm-in agreement and has now earned a 50% interest in 52 sections of land plus the two wells currently on production.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, "We are very pleased the first two wells are initially performing better than expected and that we have now earned our interest in this project. This project greatly increases our drilling inventory of gas prospects."

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.

Contact Information