Questerre Energy Corporation

Questerre Energy Corporation

March 22, 2005 09:24 ET

Questerre Updates Activities in Alberta




MARCH 22, 2005 - 09:24 ET

Questerre Updates Activities in Alberta

CALGARY, ALBERTA--(CCNMatthews - March 22, 2005) - Questerre Energy
Corporation (QEC:TSX) ("Questerre" or the "Company") reported today on
the status of its projects in Alberta.

Questerre has elected to participate for its 50% share of a second
earning well in the Vulcan area. This well follows the Company's
discovery well drilled earlier this year. Drilling operations were
completed this week and Questerre will elect to participate in casing,
completing and production testing this well.

Completion operations on its original discovery well in Vulcan were
finalized in early March. Production testing is currently underway with
a flow and build-up test. Questerre expects results from this well
within the next 2-3 weeks. At Parkland, the operator has recently
commenced completion and testing on Questerre's first well in this area.

Subject to successful production testing, the wells will be tied-in and
placed on production during the second quarter of 2005.

Questerre also reported on the status of drilling operations on the
Simonette well in west central Alberta. The well was targeting oil in
the Swan Hills formation at a depth of 3700m. Drilling was completed
ahead of schedule earlier this week and under AFE. Based on an
evaluation of drilling results, the well did not encounter reservoir in
the Swan Hills formation. In conjunction with the operator and its
partners, Questerre plans to abandon the well. Questerre currently holds
a 23.333% interest in this well.

Michael Binnion, President and Chief Executive Officer, commented, "I am
pleased with the continuing success in the Vulcan and Parkland areas.
While our high-impact exploration well at Simonette was disappointing,
it provided our shareholders exposure to a large upside with a limited
downside. Questerre hopes to continue to have limited financial exposure
to large exploration opportunities while building our cash flow base."

Questerre Energy Corporation is a Calgary-based independent resource
company actively engaged in the exploration for and development,
production and acquisition of large-scale exploration and development
projects in Canada.


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