QEC er nå gruset kursmessig og kraftig oversolgt pga. børsuro. Ikke glem at det er mange spennende triggere og lite som skal til i 2019 før det tar fyr i aksjen igjen. Siste ord er absolutt ikke sagt i Quebeck heller!! Lykke til samt god jul og ha en spennende nytt QEC år med siste oppdatering fra selskapet nå rett før jul! :-)
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Questerre provides corporate update
Calgary, Alberta -- Questerre Energy Corporation (Questerre or the Company)
(TSX,OSE:QEC) reported on recent developments including the impact of a 325,000
barrel a day curtailment of oil production announced by the Government of
Alberta. The curtailment does not apply to the Companys condensate production
in the province.

Michael Binnion, President and Chief Executive Officer of Questerre, noted,
Were very pleased that the discount between condensate prices in Alberta and
the US benchmark West Texas Intermediate (WTI) has reduced by over 50% since
the announcement of the mandatory curtailment.

Alberta

He added, Record discounts before the announcement will impact our condensate
pricing and, as a result, cash flow for the last quarter of this year. We expect
residual impacts from these differentials on cash flow in the first half of 2019
that will also see some operational shut-ins in the first quarter. Differentials
should continue to normalize throughout next year and the main factor for future
cash flows will remain the benchmark WTI price. As a result, we still plan to
participate in up to seven gross wells on our Kakwa joint venture acreage, but
we are closely watching prices to ensure we still make a good return on our
capital.

Commenting on its Kakwa North acreage, Mr. Binnion further added, Step Energy
Services and NCS Multistage, the service companies that completed our wells
here, recently announced the first well was a record setter for depth using a
two inch coiled tubing rig-assisted completion. These wells tested at average
rates of 2,800 boe/d and we have a 5% gross overriding royalty on production
before payout of capital. They should be tied-in and on production early in the
new year. We are looking forward to the operators plans for next year which
could include up to two additional farm-in wells.

The Company is also evaluating drilling locations for its recently acquired 34
(17 net) section block with its partner. The acquisition of this block closed
last month and was financed by Questerres existing cash resources. The block
lies adjacent to both its producing acreage in central Kakwa and Kakwa North.

Quebec

In Quebec, issues regarding local natural gas development and importation of oil
from the rest of Canada have recently garnered significant media coverage.
Commenting on this media coverage, Mr. Binnion said, We support the policy of
requiring social license and the Quebec Oil & Gas Association's best practice of
3% profit sharing with local communities. We have consistently indicated we do
not intend to pursue development in communities that do not support it. In spite
of polling that consistently shows a majority of Quebecers support local natural
gas development, there still remains a significant requirement for
consultation.

He further noted, We are also confident about our legal position and motion on
the legality of the regulations announced and implemented by the previous
government in the context of the election. Questerre and other industry players
are open to a constructive resolution that respects the policy and law while
giving confidence to the public.


Jordan

Reporting on its project in Jordan, he commented, We are looking forward to
negotiations with the Kingdom of Jordan for our concession early in the new
year. In the meantime we are continuing the work with our partners on the
engineering to improve the economics of developing this multi-billion barrel
resource.

In closing, he added, It has been a very challenging time in markets for
producers and service companies. We have maintained a strong working capital
position heading in 2019 while making a material land acquisition and achieving
excellent well results in Kakwa in the fourth quarter. We are very excited that
a clean tech approach to natural gas development will be a game changer for
Quebec and for social acceptability."

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 pursuing oil shale projects with the
aim of commercially developing these massive resources.

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
Jason DSilva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com