QEC-T:Ready To Run Again! Significant natural fracturing and over-pressured intervals encountered while drilling

UPDATE 1-Clarus starts Questerre Energy with speculative buy


11:08am ET (Reuters)


Oct 16 (Reuters) - Clarus Securities initiated junior oil and gas company Questerre Energy Corp with a "speculative buy" rating, saying the company has the best exposure to the Utica shale, which the brokerage expects would prove to be a commercial resource play.

Analyst Victor Rodberg said Questerre has the largest land position in the Utica shale of Quebec's St. Lawrence Lowlands, with 336,000 net acres in the region which could yield nearly 1,200 potential drilling locations and more than 1.5 trillion cubic feet of recoverable natural gas.

"Owning this stock is an excellent way to participate in this emerging shale play," Rodberg, who set a target price of C$5.85 on the company's stock, wrote in a note to clients.

Rodberg said Questerre, which is partnering Talisman Energy Inc in a pilot program to drill two horizontal wells in Utica, is also sitting on a fully funded balance sheet to see it through the full pilot phase.

Shares of Questerre Energy were down 4 Canadian cents at C$2.46 Friday morning on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Pradeep Kurup)

QEC.TO - QUESTERRE ENERGY COM NPV (TSX)

Date	Open	High	Low	Last	Change	Volume	% Change
11/06/09	2.4200	2.4800	2.4000	2.4300	-0.0700	93890	-2.80%

Composite Indicator	-- Signal --	-- Strength --	-- Direction --
Trend Spotter (TM)	Hold		Falling
Short Term Indicators
7 Day Average Directional Indicator	Sell	Minimum	Strengthening
10 - 8 Day Moving Average Hilo Channel	Hold		Falling
20 Day Moving Average vs Price	Sell	Minimum	Strengthening
20 - 50 Day MACD Oscillator	Buy	Weak	Weakest
20 Day Bollinger Bands	Hold		Falling
Short Term Indicators Average:	20% - Sell
Medium Term Indicators
40 Day Commodity Channel Index	Hold		Falling
50 Day Moving Average vs Price	Buy	Minimum	Weakening
20 - 100 Day MACD Oscillator	Buy	Strong	Weakest
50 Day Parabolic Time/Price	Sell	Weak	Weakening
Medium Term Indicators Average:	25% - Buy
Long Term Indicators
60 Day Commodity Channel Index	Hold		Falling
100 Day Moving Average vs Price	Buy	Average	Weakening
50 - 100 Day MACD Oscillator	Buy	Maximum	Strongest
Long Term Indicators Average:	67% - Buy

Vic Vallance FP Trading Says Unrisked Potential is $41.42 per share

You can buy it today for $2.33 cents and hold on till retirement as a millionaire.

Talisman is the biggest partner looking for billions!

The Company participated in a recent discovery of a potential giant shale gas field in the Lowlands, Quebec with its partners Forest Oil & Talisman Energy. Questerre is also developing a portfolio of assets including resource style plays such as the Bakken/Torquay light oil play in Antler, Saskatchewan and the Jean Marie gas play in Greater Sierra, British Columbia.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The first well in the pilot horizontal well program is a key milestone towards commercializing the Utica shale play. We are looking forward to confirmation from the horizontal wells of the consistently excellent vertical well test results from the middle Utica."