Calgary, Alberta -- Questerre Energy Corporation
("Questerre" or the "Company") (TSX,OSE:QEC) announced
today it has closed on an acquisition of producing
Bakken/Torquay oil assets and undeveloped land in the
Antler area of southeast Saskatchewan. 

Michael Binnion, President and Chief Executive
Officer, commented, "We are executing our strategy to
develop Antler into a core area for Questerre. This
accretive acquisition replaces low margin gas
production from Beaver River with operated high
netback light oil production. A number of infill and
step-out locations have already been identified."

The Company acquired approximately 100 bbl/d of light
oil production and 6,942 net acres of undeveloped land
located approximately 18 km southeast of its existing
field at Antler. The proved and probable reserves
assigned to this asset by an independent reserve
engineering firm as of March 31, 2011 is 419 mmboe
representing only six percent of the oil in place. The
cash consideration is $13.25 million.

Subject to equipment availability and weather,
Questerre plans to develop this acreage with
additional drilling during the second half of 2011.

Mr. Binnion added, "Developing this acreage will be
another opportunity to validate our drilling,
completion and production practices that have proven
quite successful at our main pool in Antler with
primary recoveries of eight percent of oil in place.
We will also be evaluating the potential for secondary
recovery techniques, such as a waterflood, which, if
successful, could represent significant incremental
recovery of oil in place."

The Company also reported that Talisman has filed a
statement of claim with respect to amounts formally
disputed by Questerre. Questerre has filed its
statement of defense and counterclaim with respect to
this issue. The claim is for $3.9 million and the
entire amount is accounted for in the Company's most
recent financial statements.

Questerre Energy Corporation is an independent energy
company focused on shale projects. The Company is
leveraging its expertise to commercialize projects
like its Utica shale gas discovery in the St. Lawrence
Lowlands, Québec. Questerre is committed to the
economic development of its resources in an
environmentally conscious and socially responsible manner.

For further information, please contact:

Questerre Energy Corporation
Anela Dido, Investor Relations
(403) 777-1185 | (403) 777-1578 (FAX) |Email:
info@questerre.com

This news release contains certain statements which
constitute forward-looking statements or information
("forward-looking statements"), including estimated
production and future development plans. Although the
Company believes that the expectations reflected in
our forward-looking statements are reasonable, our
forward-looking statements have been based on factors
and assumptions concerning future events which may
prove to be inaccurate. Those factors and assumptions
are based upon currently available information
available to the Company. Such statements are subject
to known and unknown risks, uncertainties and other
factors that could influence actual results or events
and cause actual results or events to differ
materially from those stated, anticipated or implied
in the forward looking statements. As such, readers
are cautioned not to place undue reliance on the
forward looking statements, as no assurance can be
provided as to future results, levels of activity or
achievements. The risks, uncertainties, material
assumptions and other factors that could affect actual
results are discussed in our Annual Information Form
and other documents available at www.sedar.com.
Furthermore, the forward-looking statements contain