Mr. Jason D'Silva reports

QUESTERRE CLOSES SALE OF NON-OPERATED KAKWA CENTRAL ASSETS FOR $23.5 MILLION

Questerre Energy Corp. has successfully closed the previously announced sale of its non-operated minority working interest in its Kakwa Central assets for total consideration of $23.5-million effective May 1, 2026.

Pursuant to a purchase and sale agreement, the consideration includes a cash payment of $23.5-million, the assumption of decommissioning liabilities for the assets as well as the company's commitments under its firm transportation and processing contracts.

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.

Questerre is a believer that the future success of the energy industry depends on a balance of economics, environment and society. The company is committed to being transparent and are respectful that the public must be part of making the important choices for the energy future.