QEC-T: significant natural fracturing and over-pressured intervals encountered while drilling

Questerre Energy Corporation: St. Edouard#1 Tested Gas in TBR; Preparing to Test Shale Intervals

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CALGARY, ALBERTA--(Marketwire - June 25, 2009) -


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) reported today that testing will commence shortly on multiple shale intervals for the St. Edouard #1 well in the St. Lawrence Lowlands, Quebec. This follows a recent open-hole test of the deeper Trenton Black-River ("TBR") interval in this well.


Michael Binnion, President and Chief Executive Officer of Questerre, commented, "With the significant natural fracturing and over-pressured intervals encountered while drilling, we look forward to the stimulation and testing of the shales in St. Edouard #1. This well offsets the Leclercville #1 well that recently tested 900 mcf/d on a stabilized basis from the Utica."


Testing of multiple intervals in the upper shale sequences will begin this summer once equipment and personnel are mobilized.


The TBR carbonate interval was acid stimulated and the well flowed sweet natural gas over a three-day test period with a final rate of 2.2 mmcf/d and wellhead pressure of 2000 psi (14 Mpa) on a 7/32 inch (5.6 mm) choke. No water was produced on this test. The well is currently shut-in for buildup and further testing. Based on an initial review of the pressure data, the Company anticipates the TBR zone in this well will not support the tie-in costs to the distribution system on a stand-alone basis.


Mr. Binnion further added, "The natural fracturing contributed to strong initial flow rates from the TBR. More importantly, the cuttings indicate altered limestone that confirms the potential for the TBR exploration model. While we do not expect to tie-in this well, we believe the TBR remains a valid exploration target and plan to test additional prospects with future wells."


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.


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.


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.



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A Roller Coaster Day Ahead

Whoops, jobs slip
David Berman
RTGAM



If investors are under the impression that the U.S. economy will show steady improvement - week in, week out - they're in for a shock: On Thursday, the Labor Department reported a jump in the number of initial jobless claims, thumping global stock market indexes.

U.S. stock index futures were down with about 40 minutes before markets open, suggesting that stocks will fall at the start of trading. Futures for the Dow Jones industrial average were down 37 points. Futures for the broader S&P 500 were down 7 points.

In Europe, the U.K.'s FTSE 100 was down 1.2 per cent and Germany's DAX index was down 2.1 per cent in afternoon trading. In Asia, Japan's Nikkei 225 rose 2.2 per cent in overnight trading.

To be fair, the European indexes were down from the start of trading, but the U.S. jobless report appears to have made matters worse. Initial claims rose to 627,000 last week, up 15,000 from the previous week and well ahead of expectations for claims of 600,000.

Clearly, the number of laid off Americans seeking benefits is not shrinking at the pace economists have been expecting. Just as disappointing, the previous week's claims - which had been heralded as good news at the time - were revised upward, to 612,000 from 608,000.

"On balance, the fact that initial jobless claims continue to hover above the 600,000 mark does suggest that there is still job destruction embedded in the U.S. labor market, though there is some evidence to suggest that the level is beginning to show signs of stability," said Ian Pollick, economics strategist at TD Securities, in a note, pointing to the consistent range of claims over the past several weeks.

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