Calgary, Alberta -- Questerre Energy Corporation 
("Questerre" or the "Company") (TSX, OSE: QEC) is 
pleased to report on the test results from its fifth 
horizontal well at 05-23-63-6W6M (the "05-23 Well") in 
the Kakwa-Resthaven area of west central Alberta.

The 05-23 Well is approximately two miles west of the 
existing producing wells on its joint venture acreage 
and 70m to 100m deeper vertically. The well was 
successfully completed with a seven-stage slick water 
fracture stimulation in the 1400m horizontal section. 
The well was tested for a 170-hour period thereafter.

Over the last 24 hours of the production test, the 
well flowed 815 bbl/d of condensate and 3.7 MMcf/d of 
natural gas against anticipated gathering system 
pressure of approximately 2000 kPa (290 psi) on choke 
sizes ranging from half inch to one inch. During the 
entire test, the well flowed at an average condensate 
to natural gas rate of 195 bbls per MMcf. The well 
will be tied into the local gathering system shortly. 
Questerre holds a 25% working interest in the 05-23 
Well.

The Company also reported that its next joint venture 
well located at 16-25-63-5W6M (the "16-25 Well") has 
reached total measured depth of 4680m. Production 
casing is being run into the 16-25 well and, subject 
to equipment availability and weather, completion 
operations are scheduled to begin next month. Drilling 
time from spud to total measured depth for the 16-25 
Well took approximately 34 days, 12 days shorter than 
previous wells on its joint venture acreage.

Drilling and completion costs are demonstrating 
learning curve benefits earlier than originally 
expected. Questerre estimates current well drilling 
and completion costs at less than $8 million. This is 
a cost savings of approximately 25% of the initial 
well costs of $10 million. Questerre expects further 
material savings will be realized in the future 
through pad drilling and additional efficiencies. 

Questerre updated the testing of the 15-01 Well, 
recently designated as the 09-01-62-6W6M Well (the 
"09-01 Well").

A chemical soak and squeeze on the Montney formation 
was successful in re-establishing gas flows and high 
pressure on surface. The flow from the 09-01 Well 
included very anomalous hydrogen sulphide rates. 

Michael Binnion, President and Chief Executive Officer 
of Questerre, commented, "We were pleased we were able 
to re-establish high pressure high rate flow from the 
09-01 Well. The high sour and low liquids rates are 
unusual and could reflect contribution from another 
zone. Based on these results, we are reviewing a 
possible new up-hole gas discovery."

Due to the high pressure and sour gas rates 
encountered, well control and safety was the main 
priority during these operations. Furthermore, 
regulatory restrictions on testing of critical sour 
wells limit Questerre's ability to conduct an extended 
cleanup and flow back for the 09-01 Well. Further 
testing of this well will require critical sour 
processing facilities and pipelines. Currently there 
are no such sour facilities in the immediate area. As 
a result, the 09-01 Well is currently suspended as a 
potential gas producer while the Company evaluates 
options for producing the well and new drilling on 
this block.

On its joint venture acreage to the north where the 
Company holds a 25% working interest, the operator 
reported that it has contracted a drilling rig for one 
year and the next well on this acreage is expected to 
spud in November.

The operator also reported that equipment installation 
of the joint central compression and condensate 
stabilization facility is underway. The facility has a 
capacity of 15 MMcf/d plus associated liquids. It is 
designed to address the existing production 
constraints and is anticipated to be on-stream prior 
to the end of 2013.

Questerre Energy Corporation is leveraging its 
expertise gained through early exposure to shale and 
other non-conventional reservoirs. The Company has 
base production and reserves in the tight oil 
Bakken/Torquay of southeast Saskatchewan.  It is 
bringing on production from its lands in the heart of 
the high-liquids Montney shale fairway. It is a leader 
on social license to operate issues for its Utica 
shale gas discovery in the St. Lawrence Lowlands, 
Quebec. In conjunction with a supermajor, it is at the 
leading edge of commercializing a proven process to 
unlock the massive resource potential of oil shale.

Questerre is a believer that the future success of the 
oil and gas industry depends on a balance of 
economics, environment and society. We are committed 
to being transparent and are respectful that the 
public must be part of making the important choices 
for our energy future.
For further information, please contact:

Questerre Energy Corporation
Anela Dido, Investor Relations
(403) 777-1185 | (403) 777-1578 (FAX) |Email: 
[email protected]

This media release contains certain statements which 
constitute forward-looking statements or information 
("forward-looking statements"), including the initial 
results from the 05-23 Well, the timing of completion 
operations for the 16-25 Well, the expectation of 
further reduction in drilling and completion costs for 
wells drilled in the area, the possibility of a new 
up-hole gas discovery in the 09-01 Well, the Company's 
options to produce this well and further drilling, and 
the on-stream date for the new central compression and 
condensate stabilization facilities. Although the 
initial rates from the 05-23 Well are very 
encouraging, production test results are not 
necessarily indicative of long-term performance or 
ultimate recovery from the 05-23 Well. In the future, 
the joint venture plans to release 30 day initial 
production rates from future wells drilled in the 
area, the results of which are expected to be more 
reflective of longer term performance. Although 
Questerre 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 Questerre.  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 information.  As such, readers 
are cautioned not to place undue reliance on the 
forward looking information, 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, 
Questerre 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.

Barrel of oil equivalent ("boe") amounts may be 
misleading, particularly if used in isolation. A boe 
conversion ratio has been calculated using a 
conversion rate of six thousand cubic feet of natural 
gas to one barrel of oil and is based on an energy 
equivalent conversion method application at the burner 
tip and does not necessarily represent an economic 
value equivalent at the wellhead.

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.