QEC Flows at 1600+ Barrels Per Day Target=6000+per day

At the 9:00 video mark BNN discusses the successful well drilled in BC.
BUYQuesterre EnergyQEC-T2.340A fabulous story. Shale gas has just recently been able to be accessed because of new technology. Have great partners including Talisman (TLM-T) and Forest Oil (FST-N).

BUYQuesterre EnergyQEC-T2.450Company is waiting to see the next phase of drilling. 2 going on right now by the partners, one by Talisman (TLM-T) and one by Forest Oil (FST-N). As they start getting comfort that they can crack the 3 shales and that they are productive after fracking, it then becomes a manufacturing operation

BUYQuesterre EnergyQEC-T3.200Key for them is the million gross acres in Quebec. Has about 30% and partners are Talisman (TLM-T), which knows shale plays and Forest Oil (FST-N). Forest is drilling right now and starting in the fall Talisman will drill their other 3 plays.




http://watch.bnn.ca/the-business-news/october-2008/the-business-news-october-14-2008/#clip102634

Questerre Energy Corporation ("Questerre" or the "Company") (OSE,TSX:QEC) is pleased to announce that Talisman Energy Canada (“Talisman”) has elected to drill the remaining three option wells under its farm-in agreement with Questerre and its minority partner in the St. Lawrence Lowlands, Quebec. The three wells will complete the work program allowing Talisman to earn about a 75% interest in the original 719,000 acre farm-out block. Questerre also retains about a 4¼% gross overriding royalty on production from Talisman. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We were one of the first companies to recognize the potential of the Quebec Lowlands for unconventional gas and have worked for almost ten years to get to this point. We are thrilled that Talisman, which also saw the potential early on, has decided to accelerate the exploration and appraisal program. Our joint land lies right in the heart of the Lowlands between the Yamaska growth fault and Logan’s Line and runs from Quebec City to south of Lac Saint Pierre. We continue to believe this land position proximate to the market has significant natural gas potential.” The three-well program is expected to commence in the latter half of 2008. The wells will test multiple horizons including the Trenton Black-River and the Utica and Lorraine shale sequences. Questerre Energy Corporation is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada. This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company’s plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein. For further information, please contact: Questerre Energy Corporation - Jason D’Silva, VP FinanceTel: (403) 777-1185Fax: (403) 777-1578Email: info@questerre.comWeb: http://www.questerre.com/

Questerre Energy Corporation is engaged in the exploration for, and the development, production and acquisition of scalable natural gas projects. Its major properties include St. Lawrence Lowlands, Quebec; Greater Sierra and Beaver River Field, British Columbia; Antler, Saskatchewan, and Vulcan and Westlock, Southern & Central Alberta.
The St. Lawrence Lowlands area is prospective for natural gas in multiple horizons with targets in the Ordovician Trenton Black-River and the Lorraine and Utica. Its landholdings of over one million gross acres consist of three separate blocks.

The largest block of 711,000 acres is subject to a farm-in and participation agreement with Talisman Energy. The primary zone of interest in the Greater Sierra region is the Devonian Jean Marie.

The region is also prospective for shallower zones, including the Mississippian Debolt and Slave Point formations. In November 2007, it acquired Magnus Energy Inc. In April 2008, the Company acquired Terrenex Ltd.

Share Capitalization
Issued & Outstanding:
Common Shares:179,127,088 (as at May 14, 2008)Stock Options:16,769,170 (avg exercise price $0.61)Insider Position:17,126,231 (9.57%)

Shows 1 Month Of Buy And Sells By Brokerages

This'>http://www.questerre.com/080917_QEC_Presentation.pdf">This is the most current Corporate Presentation

Mutual Fund investors rush for the exits

September withdrawals hit a record $4.5 billion
Oct 16, 2008 04:30 AM

Brett Popplewell Business Reporter

Desperate to escape the vicious bear market, Canadian investors pulled a record $4.5 billion out of mutual funds last month and apparently threw much of that money straight into their bank accounts.

And judging by yet another rout in the markets yesterday, investors are unlikely to put much cash back into funds anytime soon.

The massive outpouring of funds more than doubled the previous record for the highest monthly net outflow since the Investment Funds Institute of Canada (IFIC) began collecting data in 1990.
"There is no doubt that September has been a difficult month for investors of all stripes," said Pat Dunwoody, IFIC's vice-president, member services and communications.

"We welcome recent actions taken by governments to support the global financial system and we expect that these actions will help restore some order to markets going forward," he said.

Confidence was lacking yesterday, however, as the TSX gave back most of Tuesday's surge.
As oil prices sank below $75 (U.S.) a barrel, tumbling energy stocks led a drop of 631 points, or about 6.4 per cent, for the S&P/TSX composite index.

Last month's liquidation of mutual funds came as investor confidence plunged.
Canadians saw their savings and retirement funds dwindle as the S&P/TSX composite index dropped 15 per cent in September.
September was the first month since August 2007 that mutual funds have seen a net outflow. Prior to last month, the highest monthly net outflow from mutual funds was April 2003, when investors pulled $1.7 billion.

In addition to the large scale cashing out of equity mutual funds, money-market funds – commonly regarded as a safe haven – saw $2.5 billion in redemptions last month, down from $944.1 million in net sales in August and $328 million in the year-earlier period.

Once seen as ultra-safe, money-market funds have also been affected by the credit crisis. Last year, some Canadian money market funds were caught with asset-backed commercial paper that had fallen in value and forced some financial institutions to backstop the funds. U.S. money-market funds this year have been similarly hit.

In the past month, meanwhile, chequing and savings accounts rose by 12 per cent.
Usually such accounts increase between 2 per cent to 3 per cent.

"This is the highest rate since the beginning of the decade," said Benjamin Tal, senior economist with CIBC World Markets.

"It's pure risk aversion. During these crisis, people often take their money out of mutual funds and the market and keep it close to home.

Stocks plummet again

Stocks plummet again

STEVE LADURANTAYE
Wednesday, October 15, 2008

Investors abandoned any hopes of a quick recovery to the credit crisis Wednesday, driving North American markets lower on economic data that suggested massive government intervention may not be enough to prevent a recession.

The Dow Jones industrial average closed the day 7.9 per cent lower, or 733.08 points, to 8,577.91, while the broader S&P 500 was down 9 per cent, or 90.23 points, to 907.78. The S&P/TSX closed 6.4 per cent lower, or 631.83 points, to 9,312.83, after gaining 9.8 per cent Tuesday.

“Any euphoria over the notion that government actions are finally attacking the root problems of the crisis is rapidly dissipating as economic data turns south,” UBS wrote in a note to clients. “Systemic problems require systemic solutions which do not lend themselves to rapid resolution.”

September retail sales in the United States posted their biggest monthly drop in more than three years, down 1.2 per cent, compared to the 0.7 per cent decline economists had predicted. Consumer spending accounts for two-thirds of economic activity in the United States.

“The details of this report were simply disturbing,” said Millan Mulraine, an economics strategist at TD Securities. “On the whole, the strains on U.S. consumers are beginning to show, and this report is yet another indication that consumers are beginning to retrench their spending as they navigate against the headwinds coming from a weak domestic economy, tight credit conditions (despite the dramatic easing in monetary policy) and a deteriorating job market.”

Toronto was under pressure to hold onto some of Tuesday's gains, with oil falling $4.09 (U.S.) to $74.54 on expectations of weaker demand as the economy slows. Oil is trading at its lowest level since September, 2007. The energy sector fell 12.3 per cent, while the mining sector fell 9.9 per cent. Only the consumer staples sector posted a gain, up 1.6 per cent as Saputo Inc. gained 5 per cent and George Weston Ltd. gained 5.05 per cent.

© Copyright The Globe and Mail

Pescod Says...Oil and Gas Mergers?

With the drop in oil and gas prices and the near collapse
in stock prices of many oil and gas companies
these days, one wonders if we aren’t near an era of mergers
and acquisitions according to Canaccord’s Terry Peters.
Peters points out that the big guys in the oil and gas
patch; Internationally—Exxon, Shell, BP, Total and
Chevon have approximately $65 billion in cash

This is the full report

QEC Houses

Frantic trading takes toll on gridlocked online brokers

B CARRICK
Globe and Mail Update

October 15, 2008 at 6:00 AM EDT

Investor Alan Harries has been getting consistent service from his online broker during the past weeks of stock market swings, which is to say it's all bad service.
Whether the market is soaring, like it did yesterday, or plunging, as it did last week, Mr. Harries has found his broker to be slow and unreliable.

“When the market is busy, I haven't been able to execute trades,” Mr. Harries, an investor from Peterborough, Ont., with decades of experience in the markets, said yesterday. “I'm extremely frustrated. On a day like last Friday, when you're trying to sell, all you can see is money being lost because you can't make a trade. And then today, you lose the opportunity to make money because your trades won't go through.”

Online brokers say they're handling trading volumes these days that are double the normal level or more. Some websites are bogging down or timing out on clients, and the wait to talk to a trader on the telephone can be close to an hour at worst at some firms.

“This morning, it's been completely insane,” Doug Coulter, president of RBC Direct Investing, said around 10:30 a.m. yesterday as the S&P/TSX composite index soared more than 1,000 points. “I heard that our telephone volumes were up more than 300 per cent.”

It was much the same story over at the online broker TD Waterhouse. “We're unbelievably busy,” said John See, the firm's president. “Last week alone, we had had two of our top three all-time trading days.”

Online brokers are supposed to be a way for do-it-yourselfers who need no advice to get quick, cheap access to the stock market (they also sell bonds and mutual funds, of course).
But the latest round of service glitches highlights the limitation of online brokers: When the markets are crazy, they sometimes can't deliver.

This is a problem that investors haven't had to deal with since 2000, when frenzied trading of technology stocks routinely caused websites to malfunction and phone queues to stretch endlessly. Most online brokers spent big bucks to add new staff and strengthen their technical capabilities and, until recently, investors had reaped the benefit through largely trouble-free trading.

Mr. Harries' experience shows how the recent surge in trading has again swamped online brokers. “Today was an exercise in frustration,” he said after tussling with his broker's online stock-trading service. At one point, he actually submitted a sell order indicating he'd accept less than what other investors were offering to pay for a stock simply to expedite the trade.
The transaction never went through and he ended up using a market order, something savvy investors usually prefer to avoid, to get the trade executed. Market orders mean you'll accept the going market rate for a stock and you can never be sure of what kind of a price you'll end up with.

For individual investors, problems with their online brokers have been compounded by issues related to the Toronto Stock Exchange.

Brokers say there have been sporadic delays in getting trades confirmed and, yesterday, trading in 100 TSX-listed stocks, closed-end funds and exchange-traded funds was halted for two hours. TSX spokesman Jean-Charles Robillard said such halts are prompted by factors such as unusual price moves in a security. All the affected stocks were trading again by 11:30 a.m.
Roughly nine in 10 trades handled by online brokers are submitted over the Internet these days, which reflects the fact that the commissions are much lower than they are for trades placed over the phone with a trader.

Investors have complained lately about problems logging in at their broker's websites and also about having the screen freeze on them as they're submitting trades.

But people who want to talk to a real person have it worse these days. Christopher Wicks, vice-president of investor services at TD Waterhouse, said clients had to wait as long as 49 minutes to speak to someone at the market open yesterday, and then as long as 36 minutes by the later morning.

A heavy volume of calls is part of the issue at TD, but so is the amount of time that clients are spending on the phone. “We're having longer conversations,” Mr. Wicks said. “People are asking questions, expressing their uncertainty and concerns.”

There are a couple of things investors can do to minimize trading problems with an online broker on the kind of busy days we've seen lately. One is, where possible, to avoid trading at the peak periods of the day – market open and market close. If you do want to place a trade around the 9:30 a.m. market open, log in at your broker's website well in advance.

“Right around market open, the number of simultaneous sign-ons is unbelievable,” TD's Mr. See said.

While he admits to some “slowness” at TD Waterhouse these days, Mr. See says today's problems in the online brokerage business are not as bad as they were back in 2000. “What I've told clients is that in some cases, we've bent, but we certainly haven't broken. We haven't had systems go down.”

Who's the best broker?

The Globe and Mail's 10th annual ranking of online brokers will be published on Oct. 25. Check it out to see how 13 firms compare in such areas as fees, resources and customer satisfaction.

Conservative Minority Wins The Election

CAMPBELL CLARK
Globe and Mail Update
October 15, 2008 at 2:30 AM EDT
OTTAWA — Stephen Harper's Conservatives have won a stronger minority government on the strength of gains in Ontario and British Columbia.

But the Tories paid dearly for campaign missteps in Quebec, as their failure to make gains there was a big reason they fell short of outright control of the Commons.
In two and half years of minority government, Mr. Harper had sought to woo Quebeckers, seeing them as the path to a majority government.

With almost all of the results in, the Tories lost one of their 11 seats there. The Bloc Québécois again defied early-campaign predictions of collapse, winning almost two-thirds of the province's seats.

Mr. Harper had called the election on Sept. 7, appealing for a stronger mandate to manage the economy in uncertain times. He won more seats, but not clear control, although as he took the stage in Calgary for his victory speech, he appeared elated, not disappointed, with his larger minority — and struck perhaps the most non-partisan, co-operative tone of his political career.
Mr. Harper pledged to fulfill his party's election platform, but also to govern for Canadians who had voted for other parties, too — and at a time when a faltering economy poses challenges for any government, offered co-operation with opposition MPs.

"This is a time for us all to put aside political differences and partisan considerations and to work cooperatively for the benefit of Canada. We have shown that minority government can work, and at this time of global economic instability we owe it to Canadians to demonstrate this once again," he said.

"We stretch out a hand to all members of all parties, asking them to join together to protect the economy and weather this world financial crisis."

The Conservative gains came largely in Ontario, where near-complete results show them winning 51 of the province's 106 seats — a gain of 10 from when the election was called.
And in B.C., the Tories were on track to pick up four or five seats.

Stéphane Dion's Liberals were poised to drop almost 20 of the seats they held when the election was called — a defeat, but not as bad as some Liberals had feared in mid-campaign.
The Liberals were on track to be knocked down to only six or seven seats west of Ontario. A rare bright spot was a small gain in Quebec, where Justin Trudeau, son of late prime minister Pierre Trudeau, won in Papineau riding.

Jack Layton's NDP was making gains of seven or eight seats — the second-highest tally in the party's history. But it was still not the major breakthrough they had hoped for, and their share of the vote was essentially unchanged from the last election.
But the New Democrats made substantial gains in Northern Ontario, gained a toehold in Newfoundland with Jack Harris's win in St. John's East, and held on to deputy leader Thomas Mulcair's lone Quebec seat in Outremont.

The election results turned not as much on more votes for Mr. Harper's Conservatives, but the softening of Liberal support.

The Conservatives have won about 37 per cent of the popular vote, up one percentage point from 2006.

But Mr. Dion's Liberals garnered the lowest share of popular vote the party had ever tallied — lower than the 28 per cent the John Turner-led Liberals garnered in 1984.
The Grits lost about four percentage points from 2006, leaking a little to the Tories, but also to the Greens.

The results will likely lead some to question whether Mr. Dion's deal with Green Party Leader Elizabeth May, in which he agreed not to run a candidate against her in Central Nova and lobbied for her inclusion in the leaders' debates, was a losing strategy.

Mr. Dion conceded defeat with grace, but appeared to indicate that he expects to lead the Liberals in opposition in coming months, saying he told Mr. Harper in a phone call that he would work with him in the new Parliament to confront the global economic crisis.
"My priority, the priority of the official opposition, will be the economy, will be the economic storm that we see around the world, will be to protect Canadians, our savings, our homes, our jobs, our pensions," he said.

But Mr. Dion's control of his own party has never been solid, and he will almost certainly face pressure to step down.

Two possible front runners, Toronto MPs Bob Rae and Michael Ignatieff, were both re-elected, and the fourth-place finisher from the party's 2006 leadership race, Gerard Kennedy, was elected in Toronto's Parkdale-High Park riding.

For Mr. Harper, it was a mixed bag — a larger caucus, but no majority. He was shut out in Newfoundland, did poorly in Quebec, but won handily from Ontario westward to B.C.
Only one of his cabinet ministers, Michael Fortier, who resigned from the Senate to run for a Commons seat, lost; he was beaten easily by Bloc Québécois incumbent Meilli Faille in Vaudreuil-Soulanges.

Former foreign affairs minister Maxime Bernier, forced out of cabinet for leaving classified documents at the home of former girlfriend Julie Couillard, was handily re-elected in his riding of the Beauce, southeast of Quebec City.

In Saskatchewan, another cabinet minister who gaffed, Gerry Ritz — who made tasteless jokes about the victims of the tainted-meat crisis — was also re-elected.
In Atlantic Canada, the Conservatives gained a few seats but were swept out of Newfoundland by the backlash over the Atlantic Accord.

Green Party Leader Elizabeth May, the first leader of her party ever to take part in national leaders' debates, lost her bid to unseat Tory Defence Minister Peter MacKay in Nova Scotia's Central Nova riding — finishing second, but not close.

But when Mr. Harper forms another Conservative government after tonight, he will do so without a minister or MP in Newfoundland. Premier Danny Williams' Anything But Conservative movement appeared to strike a chord with Newfoundlanders who felt betrayed by Mr. Harper's change in stance on offshore resource revenues.

Mr. Harper lost all three of his Tory seats in Newfoundland, including both St. John's seats, where Loyola Hearn and Norm Doyle did not run again, and Avalon, where MP Fabian Manning was defeated by his Liberal challenger, Scott Andrews.

And in Nova Scotia, MP Bill Casey — who was kicked out of the Conservative caucus for voting against the budget because he believed Mr. Harper broke his promise to leave offshore resource revenues untouched under the Atlantic Accord — won by a huge margin to keep his seat as an Independent.

Still, the Conservatives ticked up elsewhere in Atlantic Canada, eking out small gains by picking up seats from the Liberals in New Brunswick and Nova Scotia and PEI.
In his speech to supporters late in the evening, Bloc Québécois Leader Gilles Duceppe said Quebeckers had rejected the Conservatives' cuts to arts and culture and his hard-line approach to youth justice.

He pointed out that the Bloc won five times as many Quebec seats as Mr. Harper's, and two-thirds of Quebec's ridings.

"That's strong," Mr. Duceppe said. "Without the Bloc Québécois, Stephen Harper would be forming a majority government."

Canadians headed to the polls on a day when the stock market climbed sharply higher. Plummeting markets appeared to shake voters' confidence last week, but while voters trooped out today, the S&P/TSX Composite Index was climbing, closing the day up 9.8 per cent.
In fact, early numbers put voter turnout at about 60 per cent, which would be the lowest in Canadian history

When the election was called Sept. 7, the Conservatives had 127 seats, the Liberals 95, the Bloc Québécois had 45, and the NDP 30. There were 4 independents, including former Liberal Party MP Blair Wilson who briefly sat as a Green Party MP, and 4 vacant seats.

Cramer Says Stop Trading + Pescod Says...Leverage Whacks CLL CEO + More

Source

Most people that are in the markets are quite aware of
the benefits and also the absolute disasters that buying
stocks on margin can cause. In a good and booming
market like we had several months ago, to buy on margin
gave you that extra little leverage and a chance to make
more on your money than before and then paying a small
interest cost.

But in the market crash of the last while, we’ve been
reminded how badly this can work against you. In a market
that falls as much as all of the markets have lately
and included every phase from finance to oil and gas to
mining to you-name-it, leverage works going up and for
the worst, going down. Two items of note here

click here for the whole .pdf report

Crisis hopping

Crisis hopping

Out with the credit crisis, in with the economic crisis. That seemed to be the operating mantra of investors on Tuesday after early gains in major stock market indexes gave way to worries about corporate profits in the months ahead.The Dow Jones industrial average closed at 9310.99, down 76.62 points or 0.8 per cent.

The broader S&P 500 closed at 998.01, down 5.34 points or 0.5 per cent.Many financial firms rose spectacularly for the second day in a row as investors grew more confident that the latest attempts to stabilize the financial system will work. The U.S. government announced earlier in the day that it will help capitalize a number of firms by buying preferred shares.

The firms include Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. Citigroup Inc. rose 18.2 per cent and Bank of America Corp. rose 16.4 per cent, but JPMorgan fell 3.1 per cent.Some stocks that appear to be exposed to the economy, however, fell. Most notably, PepsiCo Inc. fell 11.9 per cent after its third-quarter results missed analyst expectations and it announced severe job cuts. It dragged down Coca-Cola Co., which fell 7.5 per cent.

Yes, both stocks are considered to be economically defensive. But the fear is that if Pepsi is suffering, who knows what's happening to more economically sensitive companies.Meanwhile, concerns about Intel Corp.'s third-quarter results sent the shares down 6.2 per cent. However, the chip-maker edged past analysts' predictions when it released its results after markets closed. Intel reported earnings of $2-billion (U.S.), or 35 cents a share, a 12 per cent increase over last year.

The shares rose 4.3 per cent in after-hours trading.In Canada, the S&P/TSX composite index closed at 9955.66, up 890.5 points or 9.8 per cent. The Toronto market was closed on Monday for the Thanksgiving Day holiday. But if you take both Monday and Tuesday into account, the Dow has risen 10.2 per cent in total, which is roughly in line with the one-day return for the Canadian benchmark index.Among energy producers, Talisman Energy Inc. rose 23.4 per cent and Suncor Energy Inc. rose 11.1 per cent. Among financials, Royal Bank of Canada rose 14.6 per cent and Bank of Montreal rose 12.5 per cent. Manulife Financial Corp. rose 14.5 per cent after the company reassured investors that its capital resources were more than adequate.

Meanwhile, Research In Motion Ltd. rose 9.4 per cent. BCE Inc. rose 2.6 per cent - although the stock is still more than 20 per cent below the agreed-upon takeover price for the telecommunications giant, suggesting that investors are still not convinced that the money needed to complete the deal in December will be available.

Copyright 2001 The Globe and Mail

QEC:Energy Corporation : Liard Basin Shale Well Flows at 10 mmcf/d

Questerre Energy Corporation : Liard Basin Shale Well Flows at 10 mmcf/d
00:15 EDT Tuesday, October 14, 2008

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2008) -
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) and Transeuro Energy Corp. ("Transeuro") announced results from their Liard shale gas program at the Beaver River Field in British Columbia.
The program consisted of a series of mini-fracs and high pressure acid stimulations on the A-5 well. The main objective of the program was to evaluate rock properties of the Liard shales and identify prospective intervals for a possible future fracture stimulation program.
After a minor stimulation, the A-5 well flowed sweet dry natural gas at a stabilized rate of 10 mmcf/d (1,667 boe/d) over a three day test with a wellhead pressure of 3000 psi. The well is being tied-in to the local gathering system to commence a long-term production test. Production is expected to begin before the end of October pending regulatory approval.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, "While too early to evaluate the full contribution from the Liard shales, these initial results are well above our expectations. With over 30 square miles of prospective acreage, existing infrastructure and takeaway capacity, this remains an exciting opportunity."
Questerre intends to place the well on production at restricted rates. The high flowing pressure associated with this well will likely reduce production from the lower pressure A-2 and A-7 wells limiting overall production gains at the field.
The tested interval in A-5 is brittle and highly dolomitic at the top of a thick sequence of organic rich shale. The appraisal strategy is to target the more brittle rock intervals that have higher carbonate and silica content expected to respond favourably to stimulation. The brittle rocks contain free gas and may serve as a pathway for the shale gas to enter the well. The long-term production test is intended to establish how much, if any, contribution will come from the shales.
A-5 is the third well to be put on production from the shale/siltstone intervals at Beaver River. These intervals are collectively more than 2000m thick and, for classification purposes, have been separated into three major intervals. Discovered resource is estimated at over 1 Tcf per square mile based on independent analysis by Netherland, Sewell & Associates, Inc. The two other producing wells, A-7 and A-2, produce from the upper and middle intervals respectively.
Questerre is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada.
This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company's plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein.
Barrel of oil equivalent ("boe") amounts may be misleading, particularly if used in isolation. A boe conversion ratio has been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel and is based on an energy equivalent conversion method application at the burner tip and does not necessarily represent an economic value equivalent at the wellhead.
This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.
FOR FURTHER INFORMATION PLEASE CONTACT:Questerre Energy Corporation
Anela Dido
Investor Relations
(403) 777-1185
(403) 777-1578 (FAX)
Email: info@questerre.com
Website: www.questerre.com

Bush announces new steps for banking industry

Bush announces new steps for banking industry

MARTIN CRUTSINGER
Tuesday, October 14, 2008
WASHINGTON — U.S. President George W. Bush on Tuesday announced a $250-billion (U.S.) plan by the government to directly buy shares in the nation's leading banks, saying the drastic steps were “not intended to take over the free market but to preserve it.”

Mr. Bush, in the latest of a series of statements on the troubled economy, said in a brief Rose Garden statement that the move echoed similar bold moves made overseas in an effort to prevent a global recession.

“These efforts are designed to directly benefit the American people by stabilizing the financial system and helping the economy recover,” he said.

The president made his statement after an early morning meeting with his economic advisers, announcing these steps:

—The federal government will use part of the $700-billion bailout law to inject money into banks “by purchasing equity shares.” Mr. Bush said this will help banks continue to make loans to businesses and individuals.

—The Federal Deposit Insurance Corporation will “temporarily guarantee” most new debt issued by insured banks.

—The FDIC also will expand government insurance to cover all non-interest bearing accounts, aiding small businesses in covering their day to day operations.

—The Federal Reserve will “soon finalize work” on a new program to serve as a buyer of last resort for commercial paper.

More to come

© Copyright The Globe and Mail

NBC and Nobel Prize Winner Economics

The Dow is up about 938 points at the 9,389 level

Dow leaps more than 900 pointsRTGAMWall Street stormed back from last week's devastating losses, sending the Dow Jones industrials soaring a nearly inconceivable 938 points after many governments' plans to support the global banking system reassured distraught investors.

The Dow by far outstripped its previous record for a one-day point gain, 499, reached during the waning days of the dot-com boom in 2000.The market was likely to have a rebound after eight days of precipitous losses that took the Dow down nearly 2,400 points, but no one expected this kind of advance.

Still, back-and-forth trading is likely to continue as Wall Street still contends with a crippled financial system and a struggling economy. So some of Monday's big gains may disappear when trading resumes Tuesday.The Dow is up about 938 points at the 9,389 level. All the major indexes are up more than 11 per cent.

The Standard & Poor's 500 Index jumped 104.06 points, or 11.57 per cent, to finish unofficially at 1,003.31. The Nasdaq Composite Index surged 194.74 points, or 11.81 per cent, to close unofficially at 1,844.25.Copyright 2001 The Globe and Mail

Global Markets Rally

Dow leaps 500 points

Dow leaps
Monday, October 13, 2008

Stocks surged as investors rushed into stocks after eight sessions of devastating losses, hoping that the stock market is finding some footing following pledges by governments to further aid the banking sector, including plans by the Treasury to buy U.S. bank stocks.
In the first half-hour of trading, the Dow Jones industrial average rose 358.10, or 4.24 per cent, to 8,809.29 after rising 500 points in the early going.

Broader stock indicators also jumped. The Standard [amp]amp; Poor's 500 index advanced 41.81, or 4.65 per cent, to 941.03, and the Nasdaq composite index rose 75.52, or 4.58 per cent, to 1,725.03.

© Copyright The Globe and Mail

Wall Street headed for a huge rebound Monday

Wall St. heads for higher openRTGAM

Wall Street headed for a huge rebound Monday as investors, hoping that the stock market is finding some footing after eight sessions of devastating losses, sent stock futures sharply higher.

The market appeared relieved by pledges of further co-ordinated actions by European and U.S. authorities to aid the crippled banking system, including plans by the Treasury to buy U.S. bank stocks.Dow Jones industrial average futures rose 348, or 4.2 per cent, to 8,718. Standard & Poor's 500 index futures rose 42.90, or 4.81 per cent, to 933.90. Nasdaq 100 index futures rose 56.50, or 4.41 per cent, to 1,339.00.

Investors in Asia and later Europe were already buying, grabbing stocks after last week's rout and action by major governments over the weekend to bolster investor confidence.Overseas, Hong Kong's Hang Seng index surged 10.2 per cent.


Markets in Japan were closed for a holiday. In afternoon trading, Britain's FTSE 100 jumped 3.83 per cent, Germany's DAX index rose 6.84 per cent, and France's CAC-40 jumped 4.37 per cent.Copyright 2001 The Globe and Mail

Stocks gone wild

Market News: After the Bell

The close:
Stocks gone wild!

RTGAM

At any given moment on Friday afternoon, investors were either cheering the return of the Dow Jones industrial average or cowering under their desks out of concern that yet another level of support for the index was being crushed.In the end, though, the index closed out the week on a relatively quiet note.

The Dow ended at 8451.19, down 128 points, or 1.5 per cent - its eighth straight decline, but the shallowest setback since the start of the month. The broader S&P 500 closed at 899.23, down 10.69 points, or 1.2 per cent.Some financial firms actually saw some gains, which may come as a relief for those investors who have been seeing visions of the global financial system melting. Citigroup Inc. rose 9.1 per cent and JPMorgan Chase & Co. rose 13.5 per cent.

Morgan Stanley, however, was a notable exception: It tumbled 22.3 per cent on concerns about its health.Still, the carnage during the week was nothing short of amazing. The Dow and the S&P 500 each fell 18.2 per cent. According to Bloomberg News, that's the worst one-week setback since 1933. In Europe, the U.K.'s FTSE 100 fell 21.1 per cent during the week and Japan's Nikkei 225 fell 24.3 per cent.Meanwhile, the Chicago Board Options Exchange volatility index, or VIX, shot above 70 - another record high in what has been a series of record-breaking days and a sure sign that the level of fear among investors is at extreme levels.

In Canada, the S&P/TSX composite index closed at 9065.2, down 534.98, or 5.6 per cent - a sharper decline than that seen in the United States thanks to its heavier exposure to commodities, which plunged as the U.S. dollar rallied.Suncor Energy Inc. fell 6 per cent and EnCana Corp. fell 12.8 per cent after the bottom fell out of crude oil; it traded at $77.70 (U.S.) a barrel, down $8.89. Barrick Gold Corp. fell 12.8 per cent after the price of gold slid to $859 an ounce, down $27.50.Copyright 2001 The Globe and Mail

QEC Houses

Tories show video to play up Dion's language difficulties

Tories show video to play up Dion's language difficulties TheStar.com - Federal Election -

TOM HANSON/THE CANADIAN PRESS
Reporters covering the Conservative Party campaign view a television interview by Liberal leader Stephane Dion that the Tories provided outside the press room in Winnipeg, Oct. 9, 2008.
October 09, 2008 Tonda MacCharlesOttawa Bureau
WINNIPEG–Conservative leader Stephen Harper emerged shortly after a broadcast interview aired showing Liberal leader Stéphane Dion struggling in English to grasp a simple economic question, suggesting his answers showed he was unfit to lead the country.

Harper moved quickly to exploit what the Conservatives said is a damning, embarrassing piece of tape, in which Dion asked for three takes to answer what he would have done about the economy if he were prime minister now.

Harper told reporters that: "When you're managing a trillion-and-a-half-dollar economy, you don't get a chance to do do-overs, over and over again."
Harper said it shows that Dion and the Liberal party "really don't know what they would do about the economy."

"I don't think this is a question of language at all. The question was very clear, it was asked repeatedly. But what's important in the end after all the times the question was put, the answer was, from Mr. Dion, that he does not have a plan, that if he is elected he would spend 30 days trying to create one."

French reporters pointed out that Harper himself had used the incorrect word in French for trillion.
The party arranged for a television set to be brought to the hotel lobby so that party officials and the travelling media could view the scene.

Then, in a first ever for a campaign in which Harper has only made himself available once a day, early on, the campaign delayed its flight, and the Prime Minister met with reporters to say the fact Dion could not grasp a simple economic question betrays his inability to manage the economy.

The interview was aired by ATV, CTV's Atlantic affiliate, and later on by the national political show Mike Duffy Live.

In it, host Steve Murphy asks Dion: "If you were prime minister now, what would you have done about the economy and this crisis that Mr. Harper has not done?"

Dion struggles to understand the question's conditional subjunctive tense.
"If I would have been prime minister two and a half years ago?"
"If you were the prime minister right now?" responds the anchor.

"If I'm elected next Tuesday, this Tuesday is what you're suggesting?" asks Dion.
"No, I'm saying if you hypothetically were prime minister today," Murphy asks.
Dion attempts to answer, stumbling as he describes his 30-day, five point plan for post-election consultations as a "30-50 plan, in fact the plan for the first 80 days once we would have a Liberal government. Can we stop it now," asks Dion. "Because I think I was a bit slow to understand your question. And I don't think it would be good TV."

The anchor agrees to repose the question, and the it descends into a somewhat farcical and embarrassing encounter as Dion and the host try to make themselves understood.
On take two, Dion says: "Again I don't understand the question, because you ask me to be prime minister at which moment? Today? Or since a week or 60 weeks?"

Dion asks for a third take, and tries to understand as an aide explains off-camera what the question is. "Yes but if I would have been prime minister two years ago, I would have had an agenda," he says to his aide. "Let's start again."

On the third "Thank you for coming" by the host Steve Murphy, both Dion and Murphy chuckle and start over a fourth time.

"Give me a first day where I am prime minister that I can figure out what is your question is about," says Dion.

The television station said the Liberal party had asked ATV not to air the tape, but the CTV affiliate, and the national political show Mike Duffy Live played the whole thing.
Once Murphy asks the question again, Dion says: "I will assume that I have been elected today prime minister. The first thing I would do is to consult with the Privy Council office, minister of finance to know exactly in which situation we are according their data."

From that point on, Dion slips more comfortably back into his usual platform speech.
A senior Conservative official said it sounded like something "worthy of an SNL (Saturday Night Live) skit."

Earlier in the day, Harper had hardened his political message to move critical voter support in the final stretch of the campaign.

The Conservative leader conjured up what he believes Canadians will see as a scary prospect: "Prime Minister Dion."

World Markets Crash

"The right time to move out of stocks was a year or so ago, before various stock indexes the world over fell by one-third or more.If you missed that opportunity, you’re hardly alone."



Switching to Cash May Feel Safe, but Risks Remain

The New York Times

09 Oct 2008 11:36 AM ET

It’s a question we’ve all asked in our darker moments of late: Why not just put all of our investments in cash, 100 percent, just for a little while, until things calm down?

Some people already seem to be acting on that instinct. In the first six days of October (through Monday), investors pulled $19 billion out of mutual funds that invest in United States stocks, matching the outflows for the entire month of September, according to TrimTabs Investment Research.

“What clients are looking for is safety,” said John Bunch, president of retail distribution at TD Ameritrade. “They are seeking solutions that are backed by the federal government. Specifically, F.D.I.C-insured money funds and certificates of deposit. All of it is under the umbrella of, ‘Am I safe and insured?’ ”

By fleeing for the comfort of safe and insured, however, investors with a time horizon beyond a few years may be doing real damage to their long-term finances. If you’re tempted to make a big move to cash right now, you’re doing something called market timing. It’s an implied statement that you’ve figured out the right moment to get out of stocks — and will also know the right time to get back in.

So let’s dispense with the first part straightaway.

The right time to move out of stocks was a year or so ago, before various stock indexes the world over fell by one-third or more.
If you missed that opportunity, you’re hardly alone.

But if you sell now, you’ll be locking in your losses. And once you’re in cash, there isn’t much upside. In fact, with interest rates low, you’re likely to lose money in cash, because inflation will probably eat up the after-tax returns you earn from a savings or money-market account.
A guarantee of a small loss may sound good right now. But if you’re not bailing out of stocks once and for all, how will you know when it’s time to get back in? The fact is, any peace of mind you gain by being on the sidelines now will turn into a migraine once you see how much you can harm your portfolio over time by missing just a bit of any rebound.

H. Nejat Seyhun, a professor of finance at the Ross School of Business at the University of Michigan, put together a study in 2005 for Towneley Capital Management, where he tested the long-term damage that investors could do to their portfolios if they missed out on the small percentage of days when the stock market experienced big gains.

From 1963 to 2004, the index of American stocks he tested gained 10.84 percent annually in a geometric average, which avoided overstating the true performance. For people who missed the 90 biggest-gaining days in that period, however, the annual return fell to just 3.2 percent. Less than 1 percent of the trading days accounted for 96 percent of the market gains.

This fall, Javier Estrada, a professor of finance at IESE Business School in Barcelona, published a similar study in The Journal of Investing that looked at equity markets in 15 nations, including the United States. A portfolio belonging to an investor who missed the 10 best days over several decades across all of those markets would end up, on average, with about half the balance of someone who sat tight throughout.

So moving to cash right now is just fine as long as you know precisely when to get back into stocks (even though you didn’t know when to get out of them).
At some point, stocks will indeed fall enough that investors will remove the money from their mattresses and put it to work, causing prices to rise significantly.

But, as Bonnie A. Hughes, a certified financial planner with the Enrichment Group in Miami, put it to me, there won’t be an e-mail message or news release that goes out when this is about to happen. It will be evident only afterward, on the few days when the market surges.
And it gets worse for those who think they won’t have any trouble investing in stocks again later. Medium- or long-term investors who are considering a big move into cash right now are probably making an emotional decision, at least in part.

For those who follow through, the same instincts will probably hurt when trying to figure out when to reinvest in stocks.
“The emotional forces that drove them out of the market aren’t likely to let them back in ‘until things are better,’ ” Dan Danford of the Family Investment Center in St. Joseph, Mo., said in an e-mail message. “And for most people, things won’t feel better again until the market has already moved back up.”

In fact, he added, plenty of people may not allow themselves to get back in until the market has already risen significantly.
That situation is worth considering if you think your mood, or returns, can’t get any worse. “People feel worse missing out on the bounce-back that will inevitably come than they do hanging in there through the down period,” said Elaine D. Scoggins, a certified financial planner with Merriman Berkman Next in Seattle.

The truly downbeat do not see the bounce as inevitable. This outlook is essentially a bet that our current predicament is so different that the equity markets won’t bounce back at all, even though they survived 1929, the Great Depression, 1987 and a major terrorist attack. I do not believe that the markets are in some kind of permanent decline, and I haven’t found an expert who does.
That said, some retirees, or those close to leaving the work force, may be well-off enough to leave stocks behind for now. If the tumult in the economy and the decline in the markets have altered your risk tolerance, then it may make sense to move to a portfolio of Treasury bills, certificates of deposit and money market funds.

Michael G. Coli, 56, of Crystal Lake, Ill., decided to take his 401(k) money out of the market in February. As an investor in his sons’ pizza restaurants, he noticed that an increasing number of customers were relying on credit cards. And as the owner of a winter home in Naples, Fla., he witnessed the housing market dive. Taken together, he decided to pull his retirement money, which he would need in five years, from the Vanguard Balanced Index Fund and move it all into certificates of deposit.

“I had the feeling the economy was not on real firm ground,” Mr. Coli said. “I decided to get out and put it all in C.D.’s, and that is where I’ve been ever since.”

If you can’t afford to live off the proceeds of cash investments (or dividends from your investment in your kids’ pizza joints), you may have no choice but to hold on to whatever stocks you have left. Then, you can hope for a rebound that will allow you to live out your later years more comfortably. Selling now and moving to cash could mean guaranteeing a lower standard of living for the rest of your life, because you’d be locking in your losses.

But if you’re a bit younger, try to think of your investment portfolio in the same way you consider the value of your home, if you own one. After all, if you’re not moving anytime soon, your home is a long-term investment, too.

“Today’s price is not your price. Your price is 10 or 20 years from now,” said Thomas A. Orecchio, of Greenbaum & Orecchio, a wealth management firm in Old Tappan, N.J. “Unfortunately, stock market investors don’t always see things that way.”
Tara Siegel-Bernard contributed reporting.

Copyright © 2008 The New York Times

Canada rated world's soundest bank system: survey

Thu Oct 9, 2008 2:41pm EDT
By Rob Taylor

CANBERRA (Reuters) - Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets.
But Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.

The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa.
The United States was on Thursday considering buying a slice of debt-laden banks to inject trust back into lending between financial institutions now too wary of one another to lend.
The World Economic Forum's Global Competitiveness Report based its findings on opinions of executives, and handed banks a score between 1.0 (insolvent and possibly requiring a government bailout) and 7.0 (healthy, with sound balance sheets).
Canadian banks received 6.8, just ahead of Sweden (6.7), Luxembourg (6.7), Australia (6.7) and Denmark (6.7).
UK banks collectively scored 6.0, narrowly behind the United States, Germany and Botswana, all with 6.1. France, in 19th place, scored 6.5 for soundness, while Switzerland's banking system scored the same in 16th place, as did Singapore (13th).

The ranking index was released as central banks in Europe, the United States, China, Canada, Sweden and Switzerland slashed interest rates in a bid to end to panic selling on markets and restore trust in the shaken banking system.
The Netherlands (6.7), Belgium (6.6), New Zealand (6.6), Malta (6.6) rounded out the WEF's banking top 10 with Ireland, whose government unilaterally pledged last week to guarantee personal and corporate deposits at its six major banks.
Also scoring well were Chile (6.5, 18th) and Spain, South Africa, Norway, Hong Kong and Finland all ending up in the top 20.
At the bottom of the list was Algeria in 134th place, with its banks scoring 3.9 to be just below Libya (4.0), Lesotho (4.1), the Kyrgyz Republic (4.1) and both Argentina and East Timor (4.2).

RANKINGS
1. Canada
2. Sweden
3. Luxembourg
4. Australia
5. Denmark
6. Netherlands
7. Belgium
8. New Zealand
9. Ireland
10. Malta 11. Hong Kong
12. Finland
13. Singapore
14. Norway
15. South Africa
16. Switzerland
17. Namibia
18. Chile
19. France
20. Spain
--------------------------------------------
124. Kazakhstan
125. Cambodia
126. Burundi
127. Chad
128. Ethiopia
129. Argentina
130. East Timor
131. Kyrgyz Republic
132. Lesotho
133. Libya
134. Algeria
SOURCE: World Economic Forum Global Competitiveness Report 2008-2009.