Antler, Saskatchewan

The Antler area is approximately 200 km from Regina in southeast Saskatchewan. The primary target is light oil from the Bakken/Torquay formation, a dolomitic siltstone shale sequence at a depth of between 1050 m and 1150 m. Favorable fiscal terms include premium commodity prices for the oil and Crown royalties of 2.5% on the first 100,000 barrels for horizontal wells.

Questerre established a new core area in Antler through the acquisition of Magnus Energy Inc. in late 2007. The Company currently holds over 25,000 (14,800 net) acres of land of which more than 70% is undeveloped. Utilizing a 3-D seismic survey acquired in late 2007, Questerre has identified up to 50 drilling locations with numerous other locations as yet unevaluated

A pilot program was conducted in 2008 to evaluate the benefits of stage fractured horizontal wells to maximize recovery of the underlying oil pool at Antler. This was expanded later in the year with over 15 wells drilled and 17 wells stimulated. While initial results were encouraging, Questerre continued to evaluate new drilling and completion techniques in 2009 in advance of a planned program in 2010.