CALGARY, ALBERTA--(Marketwire - Jan. 22, 2013) -

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) announced today that it has significantly increased its landholdings in the Kakwa-Resthaven area of Alberta.

Michael Binnion, President and Chief Executive Officer, commented, "Following our discovery well, we have been working to grow our initial toehold into a new core area for the Company. I am pleased to report that we now have over 37,600 gross acres, approximately 60 sections, with a 77% working interest equal to 29,000 net acres or 45 net sections. This acreage lies in the heart of the liquids-rich fairway where our initial results have met or exceeded expectations."

Mr. Binnion also commented, "We have been adding land in both the development area adjacent to our three existing wells as well as other acreage on trend where we expect similar high-liquids rates. In our development area, we now have approximately 34 gross sections with a 60% working interest or 12,800 net acres. Targeting what we believe will be the next development area, located approximately 32 km away to the northwest, we have acquired 16,000 net acres. Based on industry activity and reported results, we believe this area has similar potential."

Questerre reported that gross production from its first well continues to be approximately 1100-1300 boe/d with liquids rates of 150-200 bbls/MMcf. Questerre has a 37.5% working interest in this well before payout and a 25% working interest in this well after payout.

Tie-in and commissioning of its second well is complete and the well is scheduled to be on production by early February. Production will be based on available processing capacity at a third party plant. This well flowed 974 bbl/d of condensate and 4.97 MMcf/d of natural gas or 1800 boe/d over the last 24 hours of a 96-hour production test. Questerre has a 25% working interest in this well.

Questerre also updated the status of its third well, the 15-01 well. Following the successful completion of well control operations last week, the well is being prepared to resume production testing. Subject to equipment availability, Questerre expects testing to commence in late February. Questerre has a 100% interest in this well before payout and an 80% interest in this well after payout.

CALGARY, ALBERTA--(Marketwire - Nov. 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) (OSLO:QEC) reported that it has completed the second core hole drilling program to assess its oil shale licenses in the Pasquia Hills region of Saskatchewan.

Michael Binnion, President and Chief Executive Officer, commented, "The core data is consistent with a large oil shale resource at Pasquia Hills. We believe the Red Leaf EcoShale In-Capsule process is a competitive advantage to exploit this resource. We will finalize our resource assessment for Pasquia Hills while Red Leaf completes their in-field work at Utah in advance of building their first capsule."

The program was designed to evaluate the eastern block, known as the Wildcat Hills block, covering 42,572 net acres. A total of 653m of continuous core was obtained from six new wells drilled primarily with a heli-portable rig. Good core was recovered throughout the target Second White Specks shale. Approximately 49m of this prospective shale was encountered in all the wells drilled. This follows the first core hole program that targeted the western block, the Arborfield block, where over 30m of the shale was cored in all the ten wells drilled.

Close to 300 core samples from this program are currently being analyzed for geochemical properties. Testing will include modified Fisher assay analysis to evaluate the potential oil yield and an assessment of the prospective oil shale resource. The results from this program will be integrated with the earlier program to high grade the acreage by the end of this year.

Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is a leader on social license to operate issues for its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec. In conjunction with a supermajor, it is at the leading edge of commercializing a proven process to unlock the massive resource potential of oil shale.