Mr. Timo Vuokila reports

ACQUISITION OF COMMON SHARES OF QUESTERRE ENERGY CORPORATION

Mandatum Life Insurance Co. Ltd., a Finnish limited life insurance company, on Aug. 26, 2014, acquired ownership and control of 504,035 common shares of Questerre Energy Corp., representing approximately 0.19 per cent of Questerre's outstanding common shares as a block trade via a stock broker in Oslo (on the Oslo Stock Exchange). As of the date hereof, Mandatum Life owns or controls a total of 26,956,135 common shares of Questerre representing approximately 10.17 per cent of Questerre's outstanding common shares.

The 504,035 common shares of Questerre were acquired by Mandatum Life via a stock broker in Oslo (on the OSE). The total consideration paid by Mandatum Life for the common shares acquired was 3,361,913.45 Norwegian krone, equal to approximately $1.17125 per share, in total approximately $590,352.

Mandatum Life acquired the common shares of Questerre for investment purposes.

Mandatum Life may increase or decrease ownership of, or control over, securities of Questerre depending on market conditions or any other relevant factor.