Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the 
"Company") (TSX,OSE:QEC) is pleased to report that it has closed its 
previously announced offering (the "Offering") of 5,865,000 common 
shares of the Company issued on a "flow-through" basis within the 
meaning of the Income Tax Act (Canada) at a price of $1.55 per Flow-
Through Share, resulting in gross proceeds of $9,090,750, which 
includes the exercise in full of the over-allotment option to sell an 
additional 765,000 Flow-Through Shares.

The Offering was made by a syndicate of underwriters (the 
"Underwriters") led by Canaccord Genuity Corp. and including Cormark 
Securities Inc. Details of the Offering are as set forth in the prospectus of 
the Company dated December 16, 2013 and filed on the Company's 
profile at www.sedar.com.

The gross proceeds of the Offering will be used by the Company to incur 
eligible Canadian exploration expenses ("Qualifying Expenditures") prior 
to December 31, 2014 on Questerre's properties. The Company will 
renounce the Qualifying Expenditures to subscribers of the Flow-
Through Shares for the fiscal year ended December 31, 2013.

The Company intends to use the proceeds of the Offering primarily to 
accelerate its capital program for its liquids-rich Montney acreage in the 
Kakwa-Resthaven area of west central Alberta, Canada.

The Company reported that its prospectus referred to in the stock 
exchange release on 16 December 2013 has been approved by the 
Norwegian Financial Supervisory Authority in accordance with the 
provisions of the Norwegian Securities Trading Act section 7-7 (5) on 
December 23, 2013. The Flow-through Shares issued pursuant to this 
prospectus are validly issued, fully paid up and non-assessable. Upon 
completion of this Offering there are 264,657,291 
Common Shares issued and outstanding.