Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company")
(TSX,OSE:QEC) reported on the planned Uinta Basin Railway that will serve the
Uinta Basin in Utah including the acreage held by Red Leaf Resources, Inc. ("Red
Leaf"), its investee company. Questerre currently holds a 40% equity interest in
Red Leaf.

Michael Binnion, President & Chief Executive Officer of Questerre, commented,
"It has become less and less common to successfully permit large infrastructure
projects such as railways. We congratulate the Seven County Infrastructure
Coalition in Utah and their partners including Rio Grande Pacific, on securing
the final permit. With plans to end on Red Leaf's lands we think this railway
will materially enhance its value."

The Uinta Basin railway is reported to be the first major freight rail project
built in the United States in the last 30 years. It is expected to improve
access for waxy oil production in the basin to more lucrative markets on the US
Gulf Coast. Subject to a final investment decision, construction of the
approximately 90-mile railway could commence as early as next year and be
operational within two years. Earlier this month, the US Forest Service approved
the final right of way. More information on the Uinta Basin railway can be found
online at https://www.uintabasinrailway.com. 

The recent approval is for the Whitmore Park route proposed by the railway that
includes a proposed terminus on a 7,000-acre parcel of land held by Red Leaf.
Red Leaf acquired this acreage earlier this year as part of a settlement for a
US$50 million secured note including principal and interest. The Red Leaf
acreage is also permitted by the state of Utah for a 44,000 barrel per day
refinery that would upgrade the waxy oil to more valuable products including
feedstock for lubricants. Red Leaf is in discussions with local stakeholders for
a rail loading facility that would move crude oil from tanker trucks to rail
cars that could also serve as the first stage of the larger refinery project.

Questerre is an energy technology and innovation company. It is leveraging its
expertise gained through early exposure to low permeability reservoirs to
acquire significant high-quality resources. We believe we can successfully
transition our energy portfolio. With new clean technologies and innovation to
responsibly produce and use energy, we can sustain both human progress and our
natural environment. 

Questerre is a believer that the future success of the oil and gas industry
depends on a balance of economics, environment, and society. We are committed to
being transparent and are respectful that the public must be part of making the
important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D'Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements") including the Company's
views on the impact of the proposed Uinta Basin Railway on the value of the
lands held by Red Leaf, the timeline for the construction of the railway and Red
Leaf's plans for a transloading facility and possible refinery on its acreage.

Forward-looking statements are based on several material factors, expectations
or assumptions of Questerre which have been used to develop such statements and
information, but which may prove to be incorrect. Although Questerre believes
that the expectations reflected in these forward-looking statements are
reasonable, undue reliance should not be placed on them because Questerre can
give no assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Further, events or circumstances may
cause actual results to differ materially from those predicted as a result of
numerous known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company, including, without limitation: the
implementation of Bill 21 by the Government of Quebec and certain other risks
detailed from time-to-time in Questerre's public disclosure documents.
Additional information regarding some of these risks, expectations or
assumptions and other factors may be found under in the Company's Annual
Information Form for the year ended December 31, 2021, and other documents
available on the Company's profile at www.sedar.com. The reader is cautioned not
to place undue reliance on these forward-looking statements. The forward-looking
statements contained in this news release are made as of the date hereof and
Questerre undertakes no obligations to update publicly or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.