Thursday, April 30, 2009

Questerre news and link to webcast

Good news for all of the Utica Players.


http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2624820


Questerre's St. David No. 1 well tests at 450 mcf/d


2009-04-30 06:07 ET - News Release

Mr. Anela Dido reports

QUESTERRE ANNOUNCES VERTICAL SHALE WELL SUCCESS

Questerre Energy Corp. has released preliminary test results from its program in the St. Lawrence lowlands of Quebec.

Two prospective shale zones in St. David No. 1 were fracture stimulated in a single operation. On a 17-day test, the well flowed at a stabilized rate of 450 thousand cubic feet per day based on an analysis of the production logs, this flow rate is interpreted to be primarily from a single zone. The well is currently shut-in for buildup to gather additional pressure data.

Michael Binnion, president and chief executive officer of Questerre, commented: "Four hundred and fifty thousand cubic feet per day from a single frac in a vertical well is excellent for an emerging shale play. This result correlates with the over 800,000-cubic-feet-per-day test last August from the same zone in Gentilly No. 1. We look forward to drilling our first horizontal well with multistage fracs targeting this zone, which we are confident will significantly increase the rates."

Questerre also updated the status of recent testing on Gentilly No. 1 and La Visitation No. 1:

The Lorraine formation was successfully frac'd in Gentilly No. 1. Sustained gas flows were achieved encouraging further work to assess this potential.

Three prospective shale zones in La Visitation No. 1 were stage-fracture stimulated early this winter. Two zones in the Utica formation flowed at a preliminary rate of approximately 300,000 cubic feet per day over a five-day test period. Production logging indicates the majority of the flow is from the same zone as the successes at St. David No. 1 and Gentilly No. 1. Testing was affected by flow back of proppant and frac fluids, and further analysis is necessary to fully evaluate the results.

Mr. Binnion added: "Over all, we think this program is delivering tremendous results. We have one zone with three vertical successes over a broad geographic area. While early, this zone exhibits the characteristics required to carry a commercial development. Two other zones show good promise and we expect further engineering work will unlock their potential."

Questerre also reported that the operator has begun work on a seismic acquisition program in the lowlands. The 2-D data will target several areas for prospective pilot pads that could include multiple horizontal wells.

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