Questerre Energy Corporation Issues Clarification to Press Release from April 24, 2026

Article content

This News Release is Not for Dissemination or Distribution in the United States of America to United States Newswire Services or United States Persons

Article content

CALGARY, Alberta, April 24, 2026 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) is providing a clarification to its previously disclosed estimated production following the disposition of its Kakwa Central assets.

Article content

Article content

The Company’s original press release issued earlier today reported estimated production of approximately 4,500 boe per day after the disposition. This figure was not based on production volumes, but rather on first quarter 2026 sales volumes of approximately 5,300 boe per day, adjusted for the disposition and forecast declines.

Article content

Article content

First quarter 2026 production is estimated at approximately 6,400 boe per day, which includes volumes under long-term minimum sales contracts. This compares to sales volumes of approximately 5,300 boe per day during the same period. The variance reflects unlifted volumes during the period under these long-term contracts.

Article content

Article content

Amounts not lifted during the period were invoiced in accordance with these contracts and are recognized as deferred revenue. Such amounts will be settled in the future.

Article content

The Company’s revised production estimate following the disposition, including minimum sales commitments, is approximately 5,700 boe per day.

Article content

Except as noted above, all other information in the original press release remains unchanged.

Article content

Jason D’Silva, Chief Financial Officer of Questerre, commented, “We are clarifying our initial disclosure to reflect production volumes. Our estimated corporate production following the disposition of our Kakwa Central assets is approximately 5,700 boe per day.”

Article content

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.

Article content

Article content

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.

Article content

For further information, please contact:

Article content

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email: [email protected]

Article content

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 production estimates following disposition of the Kakwa Centra assets.