Calgary, Alberta January 6, 2025 - Questerre Energy Corporation ("Questerre" or
the "Company") (TSX,OSE:QEC) reported today the term sheet for a 50/50 joint
venture to develop Parana Xisto SA ("PX Energy") with a local Brazilian partner
has expired in accordance with its terms.
Questerre remains the 100% owner and operator of PX Energy, an oil shale
production and refining company based in southern Brazil. As a result, the
Company's financial and operating results for the quarter and period ending
December 31, 2025, will include the full consolidation of PX Energy.
The Company further reported that production at PX Energy continues to remain
above 4,400 barrels of oil equivalent per day. The Company anticipates total
production in the fourth quarter of the year, including its production from
Western Canada, is estimated to average between 6,500 and 7,000 barrels of oil
equivalent per day, reflecting continued operational momentum and stable field
performance.
Questerre is an energy technology and innovation company. It is leveraging its
expertise gained through early exposure to low permeability reservoirs to
acquire significant high-quality resources. We believe we can successfully
transition our energy portfolio.
Questerre is a believer that the future success of the energy 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.
For further information, please contact:
Questerre Energy Corporation
Jason D'Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: info@questerre.com
Advisory Regarding Forward-Looking Statements
This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements") within the meaning of
applicable securities laws in Canada. Any statements about Questerre's
expectations, beliefs, plans, goals, targets, predictions, forecasts,
objectives, assumptions, information and statements about possible future
events, conditions and results of operations or performance are not historical
facts and may be forward-looking. Forward-looking information is often, but not
always, made through the use of words or phrases such as "anticipates", "aims",
"strives", "seeks", "believes", "can", "could", "may", "predicts", "potential",
"should", "will", "estimates", "plans", "mileposts", "projects", "continuing",
"ongoing", "expects", "intends" and similar words or phrases suggesting future
outcomes. Forward-looking information in this news release includes but is not
limited to the Company's estimated production for the fourth quarter of 2025.
Although Questerre believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Questerre can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Current
conditions, economic and otherwise, render assumptions, although reasonable when
made, subject to greater uncertainty. Undue reliance should not be placed on
forward-looking information as actual results may differ materially from those
expressed or implied by forward-looking information.
Events or circumstances may cause actual results to differ materially from those
predicted as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company, including,
without limitation: the following risk factors: additional funding
requirements