Mr. Michael Binnion reports

QUESTERRE SUCCESSFULLY TESTS HCCO TECHNOLOGY IN A COMMERCIAL-SIZED VESSEL AT PX ENERGY

Questerre Energy Corp. has received results from a recent test of its HCCO oil shale technology. The test was carried out at the PX Energy facility in southern Brazil.

For the first time, the technology was tested in a full commercial-sized vessel, rather than the smaller lab-scale reactors used previously. The test is an important step aimed at improving the efficiency, reducing the cost and improving the economics of the PX Energy project -- and ultimately commercializing greenfield oil shale projects.

This test was designed to prove the engineering and technical validity of the company's patented HCCO process at commercial scale -- and it succeeded. The next step is a longer test with a different purpose -- to define the commercial operating assumptions needed to run the process continuously. Based on the results to date, the company plans to implement the technology commercially at the PX Energy facility to reduce the facility's internal fuel oil consumption and strengthen the economics of the PX Energy project. In parallel, the company is already incorporating these results into the design of its planned small-scale commercial demonstration plant for HCCO technology.

Commenting on the results, Michael Binnion, president and chief executive officer of Questerre, noted: "This is an important step forward. For the first time, we have shown that our technology works in a full commercial-sized vessel -- not just in the laboratory. We anticipate this will further bring down our costs and improve the economics of the PX project. It moves us closer to a commercial demonstration of HCCO. It also brings us closer to commercializing the significant resources under Questerre's licences."

Questerre is an energy technology and innovation company focused on responsibly developing oil and gas resources. The company holds a significant natural gas discovery in the Quebec Utica shale, widely recognized as one of the most important undeveloped natural gas resources in Eastern Canada. The company believes society can transition its energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, society can sustain both human progress and the natural environment.

Questerre is a believer that the future success of the energy industry depends on a balance of economics, environment and society. It is committed to being transparent and is respectful that the public must be part of making the important choices for the energy future.

We seek Safe Harbor.