January 20, 2022 -Wolinak of Abenaki First Nation and Questerre sign agreement
for energy development

The Council of the First Nation of the Abenakis of Wolinak in Quebec (the
"Abenakis of Wolinak") and Questerre Energy Corporation ("Questerre" or the
"Company") (TSX,OSE:QEC) reported today that they have signed a joint economic
development agreement.

The joint venture will focus on developing a net-zero emissions energy hub in
Quebec. The hub will demonstrate the emerging circular economy through pilot
projects that produce clean energy, including zero-emissions gas, and assess new
carbon recycling technology. These could include the production of methanol,
fertilizer as well as cement additives and other high value products using
captured carbon dioxide. The hub will also evaluate the potential for carbon
dioxide sequestration as well as the production of clean hydrogen using
technology developed by ZEG Power, a Norwegian-based company. Questerre executed
a letter of intent with ZEG Power last year to evaluate their proprietary
leading-edge technology.

Subject to final agreements, the Abenakis of Wolinak will be granted a net
profit interest from development on their traditional territories in the
Becancour area. The Abenakis of Wolinak will also have the opportunity to
acquire a working interest in the exploration licenses from Questerre and
directly participate in future development. The parties have committed to the
use of local contractors where capacity exists, specifically Wolinak contractors
on traditional territories. Based on its previous experience with First Nations
in Western Canada, Questerre will use reasonable efforts to help the Abenakis of
Wolinak build their contracting capacity.

Michel Bernard, Chief of the Council of the First Nation of the Abenakis of
Wolinak, commented, "With the many tragic events in Quebec and Canada, we
believe that reconciliation has to move beyond words and to real action. Action
that makes a difference for First Nations. We are pleased that Questerre has
spent the past few years getting to know us, our history and our land in Quebec.
They are the first company to fully recognize our traditional use territories
and commit to move forward with full consultation and cooperation with our
people. This agreement could bring the prosperity to our Nation and equality for
our people while protecting the environment."
 
Michael Binnion, President and Chief Executive Officer of Questerre, added "The
Abenakis of Wolinak people have a long history in Quebec that pre-dates the
arrival of the French colonists. It is important that any development recognizes
their historic claims and builds a respectful relationship with these First
Nations. Our plans for a net-zero technology hub that incorporates emerging new
carbon technology is the solution to meeting Quebec's ambitious climate goals.
We look forward to deepening our cooperation with the Abenakis of Wolinak and
with all local stakeholders."

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:

Council of the Abenakis of Wolinak
Dave Bernard, General Director
(819) 294-6696 | (819) 294-6697 (FAX) | Email: dbernard@cawolinak.com

Questerre Energy Corporation
Michael Binnion, President & Chief Executive 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
development of a net-zero emissions energy hub in Quebec, the demonstration of
the circular economy through pilot projects that could include high value
products using captured carbon dioxide, the evaluation of carbon dioxide
sequestration, the production of clean hydrogen, and the commitment to the use
of local contractors where capacity exists.

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
effect of COVID-19 on the markets and the demand for oil and natural gas