CALGARY, ALBERTA - Questerre Energy Corporation
(`Questerre` or the `Company`) (TSX: QEC) (OSLO:
QEC) today announced interim results from the
recompletion of it`s Gentilly shale gas well in the
St. Lawrence Lowlands of Quebec. The well flowed
more than 800,000 cubic feet per day on a sustained
basis. This was from one set of stimulated
perforations in the Utica shale only.
The well, which is a re-entry to a previously
drilled Trenton-Black River well, was tested in
early August in the Utica formation. The well was
subsequently tested for 18 days. At the shut-in
point, the well was still cleaning up and pressures
and flow rates were constant or slightly increasing.
Approximately one-half of the fracture stimulation
water has been recovered to date.
Questerre CEO Michael Binnion commented, `This is an
excellent result for a vertical frac, especially
given that only one set of perforations was
stimulated.` Mr. Binnion continued, `There is
obviously a lot more work to do and it will take
time for final results to come in; however, initial
results continue to meet or exceed our expectations.`
Based on the promising results of the tests, the
project`s joint venture partner Talisman Energy Inc.
(`Talisman`) agreed to add another frac to the
testing program. This second fracture stimulation
is now underway. Following an evaluation of the
results of the second fracture stimulation, two
additional fracs of the Lorraine shale will be
conducted. Results of these Lorraine tests are
expected in the fourth quarter.
The Lorraine shale sits on top of the Utica and can
be up to 6,500 feet thick. The Utica shale ranges
between 300 and 1,000 feet. Early indications show
that both the Lorraine and Utica rocks are thick,
porous and appear brittle and over pressured, all of
which are conducive to artificial fracture stimulation.
Questerre and Talisman are considering an increase
in the capital allocated to completing, testing and
evaluating the well. The joint venture partners are
also considering the possibility of accelerating or
increasing the pilot program.
As the first company to acquire leases in this play,
Questerre has secured a more than 830,000-acre
(gross) position in the sweet spot of the Utica
Shale. Questerre also applies its shale gas
expertise to shale gas properties in British Columbia.
About Questerre
Questerre is a Calgary-based independent resource
company actively engaged in the exploration,
development and acquisition of high-impact 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.
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
Tel: (403) 777-1185
Fax: (403) 777-1578
Email: info@questerre.com
Web: www.questerre.com