PX Energy completes emergency maintenance on schedule

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

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CALGARY, Alberta, Aug. 25, 2026 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX, OSE: QEC) reported today that the emergency turnaround at the PX Energy oil shale processing facility in southern Brazil was successfully completed last week. The plant has been online since late August 18, 2026.

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The turnaround was completed on budget and on schedule with zero recordable safety incidents. The maintenance was to repair a critical pipe failure in the furnace that supplies heat to the main processing facility, also known as the retort. The Company also completed additional maintenance work on the retort to restore operating efficiency. For the last six days, the retort has been operating at over 90% efficiency. The Company was able to maintain continuous operation of the atmospheric distillation unit during the turnaround. It anticipates meeting its minimum sales commitments under long term contracts for the month of August despite the unexpected turnaround.

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Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We are pleased the team completed this unscheduled turnaround according to plan. We are looking forward to applying the learnings to mitigate the root cause of this shutdown and to optimize our scheduled turnaround next spring.”

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Questerre is an energy technology and innovation company focused on responsibly developing oil and gas resources. The Company holds a significant natural gas discovery in the Quebec Utica shale, widely recognized as one of the most important undeveloped natural gas resources in Eastern Canada. The Company believes society can successfully transition its energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, society can sustain both human progress and the natural environment.

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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.

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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 expectations regarding the satisfaction of its minimum volume commitments for August 2026 and the application of the learnings to mitigate the root cause of the shutdown and the optimization of the scheduled future plant turnaround.