Questerre Publishes 2011 Annual Report and AIF

CALGARY, ALBERTA--(Marketwire - March 30, 2012) -

NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC) (OSE:QEC) reported that it has filed its Annual Information Form ("AIF") and audited consolidated financial statements and related Management's Discussion and Analysis for the year ended December 31, 2011 with the Canadian securities regulatory authorities on the System for Electronic Document Analysis and Retrieval (SEDAR). The AIF includes the disclosure and reports relating to oil and natural gas reserves data and other oil and natural gas information required pursuant to National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators ("NI 51-101").

The information is also available on the Company's website at www.questerre.com and www.sedar.com. The information has also been filed on the company disclosure system for the Oslo Stock Exchange and can be accessed at www.newsweb.no.

Questerre Energy Corporation is an independent energy company focused on non-conventional oil and gas resources. The Company is currently developing a portfolio of oil shale assets in North America. It is also securing a social license to commercialize its Utica natural gas discovery in Quebec. The Company is underpinned by light oil assets and a strong balance sheet. Questerre is committed to the economic development of its resources in an environmentally conscious and socially responsible manner.

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.