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Calgary, Alberta -- Questerre Energy Corporation
("Questerre" or the "Company") (TSX,OSE:QEC) reported
today that Red Leaf Resources, Inc., ("Red Leaf") has
joint ventured with a US affiliate of Total S.A., one
of the largest international integrated oil companies,
to develop oil shale in Utah.

Red Leaf announced that together with Total, the joint
venture will launch an Early Production System ("EPS")
to demonstrate the commercial scalability of Red
Leaf's EcoShale In-Capsule Process on their oil shale
acreage in the Uinta Basin of Utah. Total will fund an
80% share of the EPS expenses estimated at US$200
million. The EPS follows a successful field pilot. It
is intended to prove the economic and environmental
attributes of the process at a larger scale. Red Leaf
and Total subsequently plan to launch an advanced
commercial project on approximately 11,000 acres of
jointly held acreage for oil shale. Total will also
fund an 80% share of the first US$200 million of the
commercial production phase of operations.

As part of its agreement with Red Leaf, Total has the
right to license the EcoShale technology for use on
other future oil shale projects worldwide and has
become a shareholder of Red Leaf. Questerre recently
invested US$40 million in Red Leaf to acquire just
under 6% of the equity of Red Leaf. Questerre also
entered into a joint venture agreement with Red Leaf
to develop its oil shale acreage in Wyoming and an
agreement to obtain licenses to utilize the Red Leaf
process. Red Leaf also reported that it has completed
its US$100 million equity offering in connection with
the closing of the Total joint venture.

As announced in the press release issued by Red Leaf
on April 18, 2012, "The partnership with Red Leaf
furthers our commitment to developing unconventional
resources", explained John Bannerman, Chief Executive
Officer of Total E&P USA, Inc. "Given the magnitude of
oil shale resources, in particular in the US, we
believe that this project has an important long term
potential for global energy markets. Red Leaf has a
strong technical and scientific team generating
interesting original ideas. We look forward to working
with them to develop leading edge sustainable and
environmentally responsible oil shale extraction
technologies."

Referencing the joint venture, Utah Governor Gary R.
Herbert stated, "As Utah is focused on our long-range,
strategic plan to keep energy prices low and supplies
stable, I'm pleased to see more investment and energy
development happening. We're committed to ensuring
that Utah remains a leader in energy production and
exports."

"From our very beginning, Red Leaf set out to solve
the environmental, produced oil quality and economic
challenges surrounding oil shale development,"
explained Jim Patten, Red Leaf's Chief Executive
Officer. "The EcoShale process resolves critical
issues, including emissions, use of water, the amount
of energy required to emancipate oil from the rock and
surface remediation and reclamation. The Red Leaf
technology also produces a high quality oil at a very
economical cost. We believe that Total's due
diligence in reaching this joint venture validates the
science and technology behind the Red Leaf EcoShale
process."