Petromin Resources Ltd. V.PTR.H

Farm Outs

[optimist31]

Following is NOT a testament for QEC. Rather a different take on how some companies seem to be able to retain a significant ownership on farmouts. Hope PTR personnel will do better in the future as we should have significantly high returns than we seem to be achieving from JV lands. JMHO. By the way - anyone seen the Q1 results? Did I miss them? How much did it cost us for an office with NOBODY HOME??? Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company") is pleased to announce that it has entered into a definitive farm-out agreement for the development of the Beaver River Field (the "Field") in British Columbia. The farm-out with Ampac Petroleum Inc., on behalf of the Ampac Partnership, ("Ampac") will target both the shallow Mattson sands and deeper Nahanni formation at the Field. The first phase of the farm-out will involve the re-entry and re-completion of four existing wells for the Mattson sands. The farm-out agreement also includes two optional wells - one for a previously unidentified Mattson sand and the second to target a new compartment in the deeper Nahanni formation. Ampac will fund and operate the initial phase to earn a 50% interest in four re-entry wells. By drilling the first option well, Ampac will earn 50% of the remaining rights in the Mattson. Ampac will earn a 50% interest in the Nahanni by drilling the second option well. Questerre will hold the remaining 50% interest in the Field.