Calgary, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) is pleased to report that field work has commenced on the seismic program in the St. Lawrence Lowlands in Quebec.
With all regulatory and landowner approvals received in January, field surveys began last week. Subject to weather conditions it is anticipated that the data acquisition will be completed by early March.
The 2-D seismic program will be funded and managed by Questerre’s partner, Talisman Energy Canada (“Talisman”). Based on the results of the seismic program, Talisman has the right to drill up to four test wells to earn an interest in over 700,000 acres of land. Talisman will also fund up to 100% of the drilling program. Questerre and its minority partners may participate for up to a 15% interest. Questerre retains a 10% carried interest and a 5% gross overriding royalty.
Questerre’s acreage is prospective for natural gas through several different play types. The primary play developed by the Company over these lands is the Trenton Black River.
Questerre Energy Corporation 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:
Michael R. Binnion, President
Tel: (403) 777-1185
Fax: (403) 777-1578
Email: info@questerre.com
Web: www.questerre.com