OSE Ose Corp.

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES
OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS


Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC) (OSLO:QEC)
is pleased to announce that it intends to complete a private placement directed
towards Norwegian and international institutional investors.


The placement will consist of the issuance of up to 23.5 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 on or before
08:00 (CET) on November 21, 2013. The minimum subscription and allocation is for
Common Shares with an aggregate purchase price equivalent to EUR 100,000. The
result of the placement will be announced prior to start of stock exchange
trading on Oslo Bors ("OSE") on November 21, 2013. The placement is subject to
receipt of all requisite approvals, including the approval by the Board of
Directors and by the Toronto Stock Exchange ("TSX"). The Common Shares issued
are subject to certain retail restrictions in Canada and cannot be traded in
Canada or to the benefit of a Canadian resident for four months from the
delivery date. The transaction is completed in reliance on exemptions from the
Prospectus Directive (Directive 2003/71 EC as amended by Directive 2010/73 EU)
and the new shares will be listed without application to the OSE from the date
of registration in the VPS. 


Pareto Securities AS, RS Platou Market AS and Swedbank First Securities have
been appointed as managers and bookrunners in connection with this placement. 


The Company intends to use the net proceeds to primarily fund the development of
its liquids-rich Montney acreage in the Kakwa-Resthaven area of west central
Alberta, Canada.


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 media release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements") including statements
concerning the pricing and terms of the placement, the book building process,
the timing of results of the placement and the use of net proceeds of the
placement. Although Questerre 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, including the timing of pricing and terms of the placement,
the placement results and closing, the use of net proceeds, the timing of
receipt of required regulatory approvals and assumptions concerning the success
of future drilling activities. Those factors and assumptions are based upon
currently available information available to Questerre. 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 information, 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,
Questerre 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 is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States or to or for the
account or benefit of US persons (as such terms are defined in Regulation S
under the United States Securities Act of 1933, as amended (the "U.S. Securities
Act")), absent registration or an exemption from registration. The securities
offered have not been and will not be registered under the U.S. Securities Act
or any state securities laws and, therefore, may not be offered for sale in the
United States, except in transactions exempt from registration under the U.S.
Securities Act and applicable state securities laws. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Questerre Energy Corporation
Anela Dido
Investor Relations
(403) 777-1185
(403) 777-1578 (FAX)
info@questerre.com

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