BRIEF-Questerre completes Saskatchewan shale core hole program

Fri Nov 30, 2012 1:42am EST
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OSLO Nov 30 (Reuters) - Questerre Energy Corporation

* Completed the second core hole drilling program to assess its oil shale licenses in the Pasquia Hills region of Saskatchewan.

* The core data is consistent with a large oil shale resource at Pasquia Hills. Believes the Red Leaf EcoShale In-Capsule process is a competitive advantage to exploit this resource. We will finalize our resource assessment for Pasquia Hills while Red Leaf completes their in-field work at Utah in advance of building their first capsule.

* A total of 653m of continuous core was obtained from six new wells drilled primarily with a heli-portable rig. Approximately 49m of this prospective shale was encountered in all the wells drilled.