The best estimate by GLJ of risked Prospective Resources net to Questerre is 0.94 trillion cubic feet (“Tcf”) (157 million barrels of oil equivalent (“boe”)). The Quebec Resource Assessment assesses the Utica shale gas potential within the Company’s 735,910 gross acres in the St. Lawrence Lowlands of Quebec. The Government of Quebec enacted the Petroleum Resources Act in the third quarter of 2018 to govern the development of hydrocarbons in the province. Questerre Energy CEO pitches fracking project in Quebec Open this photo in gallery: A Questerre shale gas exploration well is seen near St. Edouard, Que., in 2010. It operates non-conventional projects, such as tight oil, oil shale, shale oil and shale gas. We are now well positioned to engage the Government and all stakeholders on our Clean Tech Energy project. Calgary, Alberta -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE: QEC) reported today that the Government of Quebec has published the consultation documents for its strategic environmental assessment of oil and gas. The segments of the group are Western Canada; Quebec ; and Corporate and others. Questerre filed a legal brief with the Superior Court of Quebec challenging the validity of the specific Regulations relating to the restrictions. Following a successful vertical test well program in 2008 and 2009, Questerre and its partner, Repsol Oil & Gas Canada Inc. (formerly Talisman Energy Inc.), began a pilot horizontal well program to assess commerciality of the Utica shale in 2010. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. Their partner is Repsol. 1650, 801 Sixth Avenue SWCalgary, AlbertaCanada T2P 3W2tel +1 403 777-1185fax +1 403 777-1578info@questerre.com. Test data from these wells, in conjunction with offset development and studies of the analogous US Utica, supports the prospective commercial development of these resources. Canada T2P 3W2. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. It is leveraging its expertise gained through early exposure to low permeability reservoirs to … Michael Binnion, President and Chief Executive Officer of Questerre, commented “With the acquisition closed, we have regained control and operatorship of our giant natural gas discovery in the Lowlands. All Contacts. Michael Binnion is the President and CEO and founding shareholder of Questerre Energy, established in November 2000. Questerre Energy Corporation is an international energy exploration company headquartered in Calgary, Canada, and listed on the Toronto Stock Exchange and the Oslo Stock Exchange. The best estimate by GLJ of risked Prospective Resources net to Questerre is 0.94 trillion cubic feet (“Tcf”) (157 million barrels of oil equivalent (“boe”)). Last March MDN told you that Questerre Energy, a Canadian driller who has patiently waited for years to begin drilling on their extensive Utica Shale acreage in the St. Lawrence Lowlands of Quebec, Canada, had hammered out an agreement with joint venture partner Repsol to buy out Repsol's ownership interest in 753,000 Utica acres (see Questerre Energy Picks Up Another 753K Utica Acres in Quebec). The Company plans to update this assessment for the newly acquired acreage later this year. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. Once the restrictions in Quebec related to the second COVID-19 wave are lifted, we expect this will revitalize our discussions with key stakeholders.” Questerre is an energy technology and innovation company. The brief also requested a stay and ultimately a judicial hearing to have them set aside.The Company’s motion was made on the basis that the specific Regulations are ultra vires, or beyond the legal power and authority granted to the government by the Petroleum Resources Act, contrary to the independent scientific studies, and moreover they do not meet the consultation requirements detailed in Quebec legislation with respect to the enactment of regulations. This will allow us to follow through on our plans to share profits with local communities. Questerre is an energy technology and innovation company. CALGARY, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the recent launch of the Hydrogen Strategy for Canada by the Federal Government. All anticipated results disclosed herein were prepared by GLJ, which is an independent qualified reserves evaluator. It holds the largest acreage position in the Utica Shale in the Saint Lawrence Lowlands. Our Clean Tech Energy project in Quebec will dramatically reduce full lifecycle emissions and so could benefit from a stronger focus on ESG.”Commenting … In the fall of 2010, the pilot program was suspended while the provincial government initiated an environmental assessment of shale gas development in the province. GLJ prepared an independent resource assessment of the Company’s 735,910 gross (190,800 net) acres in the St. Lawrence Lowlands Quebec that have potential for the Upper Utica Shale effective December 31, 2017 in a report dated March 5, 2018 (the “GLJ Resource Assessment”). You gotta give Questerre Energy Corporation credit–they keep trying, even in the face of total opposition. Pursuant to the LOI, Questerre will acquire the exploration rights to 753,000 net acres in the Lowlands,associated wells and equipment, geological and geophysical data and other miscellaneous assets. Although Questerre believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. “Gross” resources are Questerre’s working interest (operating or non-operating) share before deduction of royalties and without including any royalty interests of Questerre. The updated Quebec Resource Assessment assigned Contingent Resources for approximately 16% of Questerre’s acreage based on the results from several vertical and horizontal wells on the Company’s acreage that have all encountered pay in the Utica as reported by the Company in 2008 to 2010. Based on an independent resource assessment prepared by GLJ Petroleum Consultants Ltd. (“GLJ”) as of December 31, 2017 for the majority of this acreage where the Company holds a working interest, the best estimate of unrisked gross contingent and prospective resources was 3.9 Tcf and 21.3 Tcf respectively. It is equally likely that the actual remaining quantities recovered will be greater or less than the best estimate. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future. It also enacted the associated regulations (the “Regulations”)which include restrictions on oil and gas activities, specifically the prohibition of hydraulic fracturing of shale.