Questerre Energy — Director's Dealing 2011

Jan 28, 2011

Options issued Jan 26, 2011 - Questerre Energy Corporation

Please find listed below options that were issued to

directors and officers of the Corporation:

Board Members AMOUNT TOTAL OPTIONS

Les Beddoes Jr. 50,000 538,753

Michael Binnion 350,000 6,312,500

Pierre Boivin 200,000 665,000

Russ Hammond 50,000 782,500

Peder Paus 250,000 3,340,000

Pat Quinlan 50,000 350,000

Bjorn Inge Tonnessen 50,000 550,000

Officers

John Brodylo 50,000 1,290,000

Pete Coldham 50,000 885,000

Jason D'Silva 130,000 1,880,000

Paul Harrington 50,000 390,000

Ian Nicholson 50,000 575,000

Maria Rees 50,000 1,455,000

Rick Tityk 50,000 950,000

Total amount to directors and officers = 1,430,000

Others 215,000

Total number of options issued 1,645,000. The

options are exercisable at a price of $1.50. Options

shall vest commencing January 26, 2012 at a rate of

1/12 every quarter over the next three years, and

shall remain in effect for a period of 5 years from

the date of grant of such options.