Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company")
(TSX,OSE: QEC) reported today on the upcoming drilling program at Kakwa North.

The Company plans to participate in three (1.5 net) wells proposed by the
operator at an estimated cost of $21 million net to Questerre. Subject to
equipment availability, the wells are scheduled to spud early in the fourth
quarter. Completion operations are planned for the first quarter of next year.
Questerre holds a 50% interest in these wells. 

Questerre also reported that the three (0.75 net) new wells on its Kakwa Central
acreage were tied in earlier last month. Gross production from these wells over
the last month is approximately 2,755 boe/d consisting of 6.8 MMcf/d of natural
gas and 1,625 bbl/d of condensate and natural gas liquids. The Company holds a
25% interest in these wells. While the initial rates are encouraging, they are
not indicative of the long-term performance or ultimate recovery.

Michael Binnion, President and Chief Executive Officer of Questerre, commented,
"As we continue to develop the Kakwa area, we are looking forward to the new
wells at Kakwa North. With success, we could see our production grow in the
second half of next year. Additionally, one of these wells will test a deeper
interval in the Montney formation for future development opportunities. As oil
prices remain volatile, we are focused on ensuring our drilling program is well
funded by our existing cash and cash flow." 

Questerre also reported that it has filed with the Québec Superior Court (Civil
Division) (the "Court") an independent expert report (the "Report") that
quantifies the economic losses that may be incurred by the Company should its
licenses to explore for oil and gas be successfully revoked by the Government of
Québec ("GoQ"). 

The independent expert was retained by the Company's litigation counsel on
behalf of the Company to prepare the Report. The Report was prepared in
connection with the legal action to assist the Court. It is solely for use by
Questerre in the legal action. The Report was prepared in accordance with the
Canadian Institute of Chartered Business Valuators ("CICBV") requirements for
both a Comprehensive Valuation Report and an Expert Report as defined in the
CICBV Practice Standards. Based on the scope, and subject to the restrictions,
qualifications, and major assumptions, under various scenarios, all of which are
set forth in the Report, potential economic losses range from approximately $700
million to $4,800 million. The Report must be considered as a whole to avoid
creating a misleading view. The Report has been filed on SEDAR+ and the
NewsPoint service of Oslo Børs. The Report, nor any part thereof, does not form
part of nor is deemed to be incorporated by reference in this news release. 

Questerre notes that there is no guarantee that it will be successful in respect
of its legal action against the Attorney General of Québec, the Minister of
Economy, Innovation and Energy and the GoQ which is currently before the Court
or that, even if successful, there is no guarantee as to the amount of damages
that Questerre may recover, if any. There are no guarantees that the amounts set
out in any of the scenarios of the Report will be accepted by the Court, and
such amounts may be materially different than the amounts ultimately awarded to
and actually recovered by Questerre, if any. Please see "Advisory Regarding
Forward-Looking Statements" below.


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, without
limitation, forward-looking statements pertaining to the Company's plans to
participate in the drilling and completion of three wells at Kakwa North, the
funding of the Company's drilling program, statements related to the revocation
of the Company's licenses to explore for oil and gas in Québec and the
quantification of the Company's economic losses as a result of the same, the
ability to recover such economic losses in any amount or not at all and the
Company's plans to continue to move forward with litigation against the GoQ and
related parties in respect of such litigation. Although management believes that
the expectations reflected in the forward-looking statements are reasonable, it
cannot guarantee future results, the drilling and completion of future wells,
the eventual outcome of the litigation, whether the Company's licenses to
explore for oil and gas will be successfully revoked, amounts or damages or
costs incurred by the Company related to the litigation, what weight, if any,
the Court will give to the Report, if any, the amounts, if any, of any damage
awards to the Company in the event that such license to explore are successfully
revoked, or that the Company will be able to recover any amounts if so awarded.

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
timing and availability of funding, permits and equipment to complete the
Company's drilling program, production from existing wells, whether the
Company's exploration and development activities respecting its prospects will
be successful or that material volumes of petroleum and natural gas reserves
will be encountered, or if encountered can be produced on a commercial basis