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Some of the plan;)

The Corporation’s capital program for 2010 is approximately $15 million - $45 million. It is anticipated

that $10 million to $30 million will be incurred drilling and fracture stimulating wells to assess the Utica shale,

construct pipelines and acquire 3-D seismic in the St. Lawrence Lowlands, Québec, with $5 million to $15 million

to be incurred in Antler, Saskatchewan drilling and completing multiple horizontal oil wells.

Subject to the results from wells drilled with its partners in the St. Lawrence Lowlands in 2010, the

Corporation’s focus in 2011 will remain the appraisal of the Utica shale. The Corporation is planning to

incur approximately $50 million - $70 million in costs on drilling and fracture stimulating additional wells,

acquisition of 3-D seismic and construction of pipelines and other production facilities in Québec. Between $5

million - $10 million will likely be spent in Antler, Saskatchewan drilling and completing multiple horizontal wells.

The use of the net proceeds of the Offering by the Corporation is consistent with Questerre’s stated

business objectives, being the establishment of the commerciality of the Utica shale in the St. Lawrence Lowlands

and the development of Questerre’s core areas, including Antler, Saskatchewan. In general, to mitigate the financial

and operational risks associated with these projects, the Corporation seeks industry partners to jointly participate in

their development and the Corporation further diversifies risk through the acquisition and development of lower risk

projects. There is no particular significant event or milestone that must occur for Questerre’s business objectives to

be accomplished.