Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

February 02, 2010 00:15 ET

Questerre Energy Corporation: Testing Commences on St. Edouard #1A Horizontal Well

CALGARY, ALBERTA--(Marketwire - Feb. 2, 2010) -

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) reported today that production testing has begun on the St. Edouard No. 1A horizontal well in the St. Lawrence Lowlands, Quebec.

St. Edouard is the first horizontal well to target the middle Utica interval. The well was recently successfully completed with 8-stage fracture stimulations in the 1000m long horizontal section. During the completion, micro-seismic monitoring was conducted using the adjacent vertical well, St. Edouard No. 1, to assess effectiveness of the fracs. Initial cleanup and flowback is underway with preliminary results expected near the end of February.

Questerre also reported that drilling operations have been completed on the second horizontal, Gentilly No. 2 in the Lowlands earlier this month. The well was drilled and cased to a measured depth of 2693m including an approximate 700m horizontal lateral.

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"), including the testing of horizontal wells. 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