Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company") (TSX, OSE: QEC) is pleased to announce that it has recently drilled two horizontal wells in the Antler area of southeast Saskatchewan. Questerre has a 50% interest in these wells.
The two wells were spud late in the third quarter and were drilled to a vertical depth of 1100m with a 1500m horizontal leg into the Upper Devonian Bakken/Torquay formation. The wells were completed open hole without fracture stimulation and placed on production this week. The average initial flow rate for the two wells was approximately 110 boe/d each.
The total costs for these two wells, net to Questerre, is expected to be approximately $1 million.
Plans are underway to spud two additional horizontal wells and commence a 25 square mile 3-D seismic survey prior to year-end. It is expected the seismic survey will better define the target Bakken/Torquay formation and assist in locating both exploration and development wells for the 2008 drilling program.
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