Questerre Energy Corporation

Questerre Energy Corporation

June 08, 2007 02:45 ET

Questerre Energy Corporation: Yamaska Well Update

CALGARY, ALBERTA--(Marketwire - June 8, 2007) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) announced that its partner, Gastem Inc. ("Gastem"), updated the progress of the St. Francois-du-Lac No. 1 well on the Yamaska licenses in the St. Lawrence Lowlands, Quebec. Questerre holds a 7.5% gross overriding royalty convertible into a 20% working interest on these licenses.

The well encountered a high-pressure natural gas kick at a depth of 465m in the Lorraine shales that flowed continuously to flare for several days. The gas kick was brought under control and the well is currently drilling ahead as programmed at 860m. The operator, Gastem, plans to include the interval at 465m in the testing program after drilling is completed.

The primary target for this well is the Utica shale at a depth of 1200m. Target depth is 1800m and the wells will also evaluate the deeper Trenton Black-River for conventional reservoir and gas storage potential.

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.

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