Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company")
(TSX,OSE:QEC) is providing a clarification to its previously disclosed estimated
production following the disposition of its Kakwa Central assets.
The Company's original press release issued earlier today reported estimated
production of approximately 4,500 boe per day after the disposition. This figure
was not based on production volumes, but rather on first quarter 2026 sales
volumes of approximately 5,300 boe per day, adjusted for the disposition and
forecast declines.
First quarter 2026 production is estimated at approximately 6,400 boe per day,
which includes volumes under long-term minimum sales contracts. This compares to
sales volumes of approximately 5,300 boe per day during the same period. The
variance reflects unlifted volumes during the period under these long-term
contracts.
Amounts not lifted during the period were invoiced in accordance with these
contracts and are recognized as deferred revenue. Such amounts will be settled
in the future.
The Company's revised production estimate following the disposition, including
minimum sales commitments, is approximately 5,700 boe per day.
Except as noted above, all other information in the original press release
remains unchanged.
Jason D'Silva, Chief Financial Officer of Questerre, commented, "We are
clarifying our initial disclosure to reflect production volumes. Our estimated
corporate production following the disposition of our Kakwa Central assets is
approximately 5,700 boe per day."
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 successfully 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. We are committed to being
transparent and are respectful that the public must be part of making the
important choices for our energy future.
For further information, please contact:
Questerre Energy Corporation
Jason D'Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com
Advisory Regarding Forward-Looking Statements This news release contains certain
statements which constitute forward-looking statements or information
("forward-looking statements") within the meaning of applicable securities laws
in Canada. Any statements about Questerre's expectations, beliefs, plans, goals,
targets, predictions, forecasts, objectives, assumptions, information and
statements about possible future events, conditions and results of operations or
performance are not historical facts and may be forward-looking. Forward-looking
information is often, but not always, made through the use of words or phrases
such as "anticipates", "aims", "strives", "seeks", "believes", "can", "could",
"may", "predicts", "potential", "should", "will", "estimates", "plans",
"mileposts", "projects", "continuing", "ongoing", "expects", "intends" and
similar words or phrases suggesting future outcomes. Forward-looking information
in this news release includes but is not limited to production estimates
following disposition of the Kakwa Centra assets.
Although Questerre believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Questerre can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Current
conditions, economic and otherwise, render assumptions, although reasonable when
made, subject to greater uncertainty. Undue reliance should not be placed on
forward-looking information as actual results may differ materially from those
expressed or implied by forward-looking information.
Events or circumstances may cause actual results to differ materially from those
predicted as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company, including,
without limitation: the following risk factors: additional funding requirements