March 28, 2013 at 23:02 PM EDT
Questerre Publishes 2012 Annual Report and AIF

CALGARY, ALBERTA--(Marketwire - March 28, 2013) -

NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Questerre Energy Corporation ("Questerre" or the "Company") (OSLO:QEC) (TSX:QEC) reported that it has filed its Annual Information Form ("AIF") and audited consolidated financial statements and related Management's Discussion and Analysis for the year ended December 31, 2012 with the Canadian securities regulatory authorities on the System for Electronic Document Analysis and Retrieval (SEDAR). The AIF includes the disclosure and reports relating to oil and natural gas reserves data and other oil and natural gas information required pursuant to National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators ("NI 51-101").

The information is also available on the Company's website at www.questerre.com and www.sedar.com. The information has also been filed on the company disclosure system for the Oslo Stock Exchange and can be accessed at www.newsweb.no.

Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is a leader on social license to operate issues for its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec. In conjunction with a supermajor, it is at the leading edge of commercializing a proven process to unlock the massive resource potential of oil shale.

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

This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.

Contact:

Questerre Energy Corporation

Anela Dido

Investor Relations

(403) 777-1185

(403) 777-1578 (FAX)

info@questerre.com

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