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Calgary, Alberta - Questerre Energy Corporation
("Questerre" or the "Company") (TSX,OSE:QEC) is
pleased to report on the Utica test results from the
St. Edouard #1 well in the St. Lawrence Lowlands,
Quebec.
The primary zone of interest within the middle Utica
was fracture stimulated in late July. Over a 10-day
test, the well flowed at initial rates of 2.6 mmcf/d
with an average rate of over 700 mcf/d on a one-inch
choke. The well is currently shut-in for buildup to
gather additional pressure data.
Michael Binnion, President and Chief Executive
Officer of Questerre, commented, "Another positive
result from the middle Utica at St. Edouard #1
correlates with our results across the basin. We have
now confirmed effective rock properties and
encouraging stable gas rates for an area extending
over 100 km from St. David #1 to St. Edouard #1."
Questerre and the operator are currently reviewing
potential locations for horizontal wells adjacent to
the existing vertical test wells. The Company expects
the first horizontal well to be located at the St.
Edouard #1 site with spud scheduled this fall.
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.
For further information, please contact:
Questerre Energy Corporation
Anela Dido, Investor Relations
(403) 777-1185 | (403) 777-1578 (FAX) |Email:
info@questerre.com
Calgary, Alberta - Questerre Energy Corporation
("Questerre" or the "Company") (TSX,OSE:QEC) is
pleased to report on the Utica test results from the
St. Edouard #1 well in the St. Lawrence Lowlands,
Quebec.
The primary zone of interest within the middle Utica
was fracture stimulated in late July. Over a 10-day
test, the well flowed at initial rates of 2.6 mmcf/d
with an average rate of over 700 mcf/d on a one-inch
choke. The well is currently shut-in for buildup to
gather additional pressure data.
Michael Binnion, President and Chief Executive
Officer of Questerre, commented, "Another positive
result from the middle Utica at St. Edouard #1
correlates with our results across the basin. We have
now confirmed effective rock properties and
encouraging stable gas rates for an area extending
over 100 km from St. David #1 to St. Edouard #1."
Questerre and the operator are currently reviewing
potential locations for horizontal wells adjacent to
the existing vertical test wells. The Company expects
the first horizontal well to be located at the St.
Edouard #1 site with spud scheduled this fall.
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.
For further information, please contact:
Questerre Energy Corporation
Anela Dido, Investor Relations
(403) 777-1185 | (403) 777-1578 (FAX) |Email:
info@questerre.com
