Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company") (TSX, OSE:QEC) announced today that its production averaged 635 boe per day in the second quarter, more than double the first quarter average rate of 292 boe per day.
Exit production for the second quarter was over 1,000 boe per day or more than triple the exit production for the first quarter of 300 boe per day. The increase in daily production follows the commencement of gas production in Vulcan and tie-in of several wells in the Vulcan and Westlock areas of Alberta.
The Company also reported on its activities in Vulcan, Southern Alberta. Questerre participated in the drilling of three (1.28 net) additional wells in Vulcan since the end of the second quarter. Two (1.0 net) wells were cased as oil wells and the third (0.28 net) well has been cased as a gas well. Completion and testing is expected by the end of the third quarter.
Michael Binnion, President and Chief Executive Officer, commented, “Our production increases reflects our drilling activity in the first half of this year. With our active oil drilling program in Vulcan and Westlock, we are well positioned to meet our target of exiting 2006 with over 1,600 boe per day on production and over 400 boe per day behind pipe.”
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