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 report that it has closed its equity offering previously announced
on November 20, 2013.


The offering consisted of the issuance of 23,494,753 common shares of the
Company ("Common Shares") at an issue price of NOK 7.40 or C$1.28 per Common
Share for gross proceeds of approximately NOK 174 million or approximately C$30
million. There are currently 258,792,291 Common Shares issued and outstanding.


The Common Shares are currently tradable on Oslo Bors ("OSE"). The Common Shares
issued are subject to certain resale restrictions in Canada and cannot be traded
in Canada or to the benefit of a Canadian resident for four months and a day
from the distribution date. The transaction was completed in reliance on
exemptions from the EU Prospectus Directive (Directive 2003/71 EC as amended by
Directive 2010/73 EU) and the new Common Shares are listed without application
to the OSE from the date of registration in the VPS.


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.


Pareto Securities AS, RS Platou Market AS and Swedbank First Securities have
acted as managers and bookrunners in connection with this placement of Common
Shares.


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 use of the net proceeds of the offering. 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 timely receipt of the necessary regulatory approvals, the use of net
proceeds 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
(including the receipt, in a timely manner, of the necessary regulatory
approvals), 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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