Questerre Energy Corp (Canada) T.QEC

Alternate Symbol(s): QTEYF

Energy Oil & Gas E&P

Questerre Energy Corporation is an energy technology and innovation company. It is engaged in the acquisition, exploration, and development of oil and gas projects, in specific non-conventional projects such as tight oil, oil shale, shale oil and shale gas. It holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada, as well as in the Kingdom of Jordan (Jordan). Its oil shale assets include its project in Jordan and its investment in Red Leaf Resources Inc. (Red Leaf). It plans to utilize the Red Leaf technology for its project in the Kingdom of Jordan. In Quebec, the project has a comprehensive program to test the carbon storage potential including injection and monitoring wells, compression facilities and a pipeline to an adjacent industrial park. Its Kakwa area is a liquids-rich Montney natural gas resource play situated over 75 kilometers (km) south of Grande Prairie in west central Alberta. Its Antler area is over 200 km southeast of Regina in southeast Saskatchewan.

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Questerre Energy Corp (Canada)

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Post by Banffstockeron Feb 12, 2009 9:52am

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Post# 15773435

LOWLANDS EXPLORATION PROGRAM

Forest Oil:

An avalanche of news. Denver-based natural gas and oil producer Forest Oil had its investors excited again after announcing

some strong drill results from its Haynesville/Bossier shale play. Forest said late Tuesday afternoon that the Moseley 14-1H,

located in Red River Parish, Louisiana, produced into the sales line at a rate of 14 MMcfe/d with 6,500 psi flowing casing

pressure while still cleaning up frac load. Forest has a 100% working interest in this well. Forest holds approximately 3,800 net

acres around the drillsite. Forest has approximately 140,000 gross (106,000 net) acres in the Haynesville/Bossier play and

intends to operate a two rig program to drill 10-12 horizontal Haynesville/Bossier shale wells and participate in 2-3 nonoperated wells during 2009. The company currently has two horizontal Haynesville/Bossier shale wells completing and two drilling. Separately on Wednesday, Forest said it would significantly cut capital spending this year and reduce drilling as energy prices have slumped. Forest also said it was delaying its divestiture program, under which it intends to sell $450-750 million of noncore properties. It hopes to complete the divestitures by the end of 2010 and use the proceeds to reduce debt. As of January 31, Forest's principal amount of outstanding consolidated debt was about $2.8 billion, including around $1.4 billion under combined U.S. and Canadian credit facilities. "We have substantial indebtedness and may incur more debt in the future," Forest said Wednesday. "Our leverage may materially affect our operations and financial condition." Rounding out the barrage of news, Forest said Wednesday it plans to begin a private debt offering to eligible purchasers of $350 million principal amount of senior notes due 2014. Of note, Canaccord Adams expects Forest to announce (the widely anticipated) results from its Quebec Lowlands exploration program in late February (to coincide with its year-end release), or sometime in March.

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First Nations contributions attract investor interest