Calgary, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX, OSE:QEC) is pleased to announce that Talisman Energy Canada (“Talisman”) has elected to exercise its option to drill a test well on the Company’s acreage in the St. Lawrence Lowlands in Quebec.
The election follows the processing and interpretation of the 2-D seismic data acquired by Talisman over this land last winter. Talisman has the right to drill up to four wells to earn a majority interest in over 700,000 acres of land held by Questerre in the St. Lawrence Lowlands.
The well, known as the “Talisman Gentilly #1” well, is expected to spud early this winter subject to regulatory approval, equipment availability, surface access and weather. Subject to Questerre’s review of the seismic data, Questerre and its minority partners may elect to participate in the costs of the well. Questerre and its partners will also receive a carried working interest and a gross overriding royalty on production from Talisman.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Talisman’s commitment validates our work in Quebec over the last five years. I look forward to the commencement of drilling operations early this winter.
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