Questerre Energy Corporation
TSX : QEC
OSLO STOCK EXCHANGE : QEC

Questerre Energy Corporation

March 10, 2011 00:22 ET

Questerre to Evaluate BAPE Report

CALGARY, ALBERTA--(Marketwire - March 10, 2011) -

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 on the release of the BAPE report in Quebec.

The Minister of Sustainable Development, Environment and Parks in Quebec, Pierre Arcand, published the report of the Commission of the Bureau d'audiences publiques sur l'environment ("BAPE") on the development of the shale gas industry in Quebec. The 323-page report detailed its recommendations to the government and can be found at http://www.bape.gouv.qc.ca/sections/rapports/publications/bape273.pdf.

Mr. Arcand reported that the main recommendation is to conduct a study to assess the strategic environmental considerations of shale gas development. He focused on increasing the understanding of shale gas by all stakeholders, promoting social acceptability by consultation and enhancing the existing regulations.

The Minister confirmed the recommendations including provisions for controlled development while the environmental review is being conducted. Interim regulations will be required and developed in the short term.

In conjunction with the Quebec Oil & Gas Association, Questerre and its partners are analyzing the report and expect the Association will comment on behalf of industry by early next week.

Questerre Energy Corporation is an independent energy company focused on shale gas in North America. The Company is concentrated on establishing commerciality of its Utica shale gas discovery in the St. Lawrence Lowlands, Québec. Questerre is committed to the economic development of its resources in an environmentally conscious and socially responsible manner.

This news release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including implementation of regulations, the results from our horizontal wells and the timing and scope of future operations. 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.

Contact Information

  • Questerre Energy Corporation
    Anela Dido
    Investor Relations
    (403) 777-1185
    (403) 777-1578 (FAX)
    info@questerre.com