Questerre Energy — Capital/Financing Update 2010

Mar 1, 2010

March 1, 2010 - Questerre announces proposed private placement

Calgary, Alberta -- Questerre Energy Corporation

("Questerre" or the "Company") (TSX,OSE:QEC) is

pleased to announce that it intends to complete a

private placement directed towards Norwegian and

international institutional and accredited investors.

The placement will consist of the issuance of between

20 million and 30 million Common Shares of the

Company. The placement will be priced in the context

of the market and will be carried out through a book

building process that will close no later than 08:30

(CET) on March 2, 2010 or earlier at the Company's

discretion. The minimum subscription and allocation

is shares with an aggregate purchase price equivalent

to EUR 110,000. The result of the placement will be

announced prior to start of stock exchange trading on

Oslo Børs on March 2, 2010. The placement is subject

to receipt of all requisite approvals.

Pareto Securities AS, DnB NOR Markets and Arctic

Securities ASA have been appointed as the Company's

financial advisors in connection with this placement.

The Company proposes to use the net proceeds from

this placement to fund the continued assessment of

the Utica shale gas discovery in the St. Lawrence

Lowlands, Quebec.

Questerre Energy Corporation is an independent energy

company focused on shale gas in North America. The

Company is concentrated on establishing commerciality

of its Utica shale gas discovery in the St. Lawrence

Lowlands, Quebec.

For further information, please contact:

Questerre Energy Corporation

Anela Dido, Investor Relations

(403) 777-1185 | (403) 777-1578 (FAX) |Email:

info@questerre.com

This news release contains certain statements which

constitute forward-looking statements or information

("forward-looking statements"). Although the Company

believes that the expectations reflected in our

forward-looking statements are reasonable, our

forward-looking statements have been based on factors

and assumptions concerning future events which may

prove to be inaccurate. Those factors and assumptions

are based upon currently available information

available to the Company. Such statements are subject

to known and unknown risks, uncertainties and other

factors that could influence actual results or events

and cause actual results or events to differ

materially from those stated, anticipated or implied

in the forward looking statements. As such, readers

are cautioned not to place undue reliance on the

forward looking statements, as no assurance can be

provided as to future results, levels of activity or

achievements. The risks, uncertainties, material

assumptions and other factors that could affect

actual results are discussed in our Annual

Information Form and other documents available at

www.sedar.com. Furthermore, the forward-looking

statements contained in this document are made as of

the date of this document and, except as required by

applicable law, the Company does not undertake any

obligation to publicly update or to revise any of the

included forward-looking statements, whether as a

result of new information, future events or

otherwise. The forward-looking statements contained

in this document are expressly qualified by this

cautionary statement.

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. This news release does not

constitute an offer to sell or the solicitation of an

offer to buy securities in any jurisdiction in which

such offer or solicitation would be unlawful.