Calgary, Alberta (FSCwire) - Qwest Diversified Capital Corporation (“QDCC” or the “Company”) is providing further disclosure regarding its reserves as a result of the previously announced disposition of certain assets in the Pigeon Lake area of Alberta. The Company continues to produce and operate from Cardium zone wells in the Bonnie Glen area of Alberta (the “Assets”).

The following tables estimate the Company Interest reserves and associated net present values associated with the Assets as at October 31, 2014, as set out in a reserves report prepared by Sproule Associates Ltd.  The reserves and net present values for the Assets were evaluated at October 31, 2014 as part of a larger Corporate Reserves Evaluation.

Net Reserves Volumes as at October 31, 2014:

Net Present Values of Future Net Revenue as at October 31, 2014 (M$):

Notes:

1.             Based on Sproule Associates October 31, 2014 Price Forecast.

2.             The estimates of future net revenue disclosed herein do not represent fair market value. 

For further information, please contact:

Qwest Diversified Capital Corporation         Qwest Diversified Capital Corporation

Glenn Hamilton                                                           Quinn Kuiken

Chief Financial Officer                                                Manager of Corporate Development

Ph: (403) 262-8444                 investorrelations@qdcc.ca

Note on Reserves Data:

Totals may not add because of rounding. Mbbl, MMcf and Mboe refer to thousand barrels, million cubic feet and thousand barrels of oil equivalent, respectively.

The term boe may be misleading, particularly if used in isolation. A boe conversion of six thousand cubic feet per one barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.  Given that the value ratio based on the current price of oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

ADVISORY STATEMENT

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws.  Such information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “schedule”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “intend”, “could”, “might”, “should”, “believe”, “develop”, “test”, “anticipation” and similar expressions.  In particular, information regarding reserves estimates and future net revenue contained in this news release is forward-looking information because such information involves the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that such reserves can be profitably produced in the future. 

These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect.  Readers are cautioned that actual future operations, operating results and economic performance of the Company are subject to a number of risks and uncertainties, including general economic, market and business conditions and could differ materially from what is currently expected as set out above.  In addition, the acquisition of the Assets remains subject to the satisfaction of certain conditions.  Such conditions may not be satisfied and such acquisition may not be completed.  For more exhaustive information on these risks and uncertainties you should refer to the Company’s most recently filed managements' discussion and analysis which is available at www.sedar.com. 

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date.  While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as may be required by securities laws.

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