QEC Is A Stock You Should Own At These Prices

http://watch.bnn.ca/the-close/september-2008/the-close-september-12-2008/#clip92209

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%)

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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 Finance
Tel: (403) 777-1185
Fax: (403) 777-1578
Email: info@questerre.com
Web: www.questerre.com

September, 2008: 30 days that rocked the world

September, 2008: 30 days that rocked the world

DAVID PARKINSON
Tuesday, September 30, 2008
Perhaps one day, they'll print it on T-shirts: I Went Through the September Wringer of 2008.
With a dizzying, dismal September finally behind the world's financial markets, investors are left surveying the carnage of the most volatile month for stocks in a generation. After a history-making month of failing banks, rescue plans and dashed hopes, investors find themselves looking at a Canadian market worth almost 15 per cent less than it was a month ago – and facing some difficult questions about what comes next.

Veteran market watchers note the markets have seen deeper turmoil over shorter time spans – most recently, the selloffs of October, 1987, and August, 1998, both of which saw 20-per-cent-plus declines.

But what is more worrisome this time is the underlying economic and credit landscape, which offers little support for stocks.

Unlike the plunges that were triggered by financial market woes but came in times of a generally solid underlying economy, this selloff has come amid a severe credit crunch and a global economy lurching toward recession.

“This is a more complicated situation. It has a lot more layerings,” said UBS Securities Canada chief economist George Vasic, a market veteran of nearly three decades.
Even after rebounding more than 450 points Tuesday, the S&P/TSX composite index finished the month down 14.7 per cent – its fourth-worst month since 1980, and its worst September since 1931. The month featured wild mood swings in which one-third of the trading sessions (seven of 21) featured moves of more than 3 per cent.

The end of September also caps a dismal quarter of credit woes and sinking commodity prices that fuelled a 19-per-cent slide in the S&P/TSX composite, its worst quarter in a decade. The index is down 22 per cent from its peak in June.

The month wasn't much kinder to U.S. markets. The S&P 500 fell 9.2 per cent, its third-worst September, and eighth-worst month, since 1950.

Sharp downward corrections in stock markets aren't as rare as many investors imagine. In the past decade alone, the Canadian market has had eight months with losses of more than 7 per cent.

“These things happen more often than people remember,” Mr. Vasic said. “The pain of the past doesn't sting quite as much right now, because you eventually recovered from that pain, but at this moment you're not sure if or when you're going to recover from the current situation.”

And, indeed, stocks have historically rebounded smartly from violent short-term slides. Merrill Lynch analyst Mary Ann Bartels noted that in six of the eight occasions the S&P 500 suffered losses equal to or greater than Monday's 9-per-cent plunge, stocks bounced back the next day and were still above those selloff lows a month later.

But with the global economy still slowing, complicated by the confusion surrounding credit and financial sector woes, this pullback may not follow the typical model.

“Even allowing for the U.S. recession, we do have the fact that U.S. consumers do need to de-lever themselves. So, that would appear to cement the prospects for a weak recovery,” Mr. Vasic said.
And the credit-fuelled turmoil in the global financial sector “is a feature that really hasn't been there in any of the postwar recessions,” he said.

Academics said Tuesday that although we're still in early days, September's events and their accompanying market turmoil could one day make up key chapters in economic and financial text books. The transformation in some of the world's biggest and most powerful financial institutions, government and central bank manoeuvrings and the gut-wrenching reconstruction of the world's credit system could provide valuable lessons for the global economy and financial system.

“This is not the end game, but it's the beginning of the end,” said economist Mahmoud El-Gamal of Rice University. “How the end game plays out really depends on whether there is an international level of co-operation on reconfiguring the international financial system, as well as specific sectors including the investment banks and the hedge funds.

“We don't really know how it's going to go.”
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