Calgary, Alberta ? Questerre Energy Corporation (?Questerre? or the ?Company?) (TSX,OSE:QEC) announced today that the operator will spud the first horizontal well targeting the middle Utica in the St. Lawrence Lowlands this week.
The St. Edouard #1A horizontal well will be situated adjacent to the St. Edouard #1 vertical well that tested at 700 mcf/d from the middle Utica interval. Subject to final results, the well will be fracture stimulated and production tested. During stimulation, the existing vertical well will serve as a monitor for real-time micro-seismic imaging to validate stimulation effectiveness.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, ?The first well in the pilot horizontal well program is a key milestone towards commercializing the Utica shale play. We are looking forward to confirmation from the horizontal wells of the consistently excellent vertical well test results from the middle Utica.?
This news release contains certain statements which constitute forward-looking statements or information (?forward-looking statements?). 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 contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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:
Anela Dido
Investor Relations
Questerre Energy Corporation
1650, 801, 6th Ave SW
Calgary AB T2P 3W2
Phone 403 777 1184
Fax 403 777 1578
