April 24, 2026 - Questerre to sell non-operated Kakwa Central assets for $23.5
million

Calgary, Alberta -- Questerre Energy Corporation ("Questerre" or the "Company")
reported today it has entered into a binding agreement to sell its non-operated
minority working interest in its Kakwa Central assets for total consideration of
$23.5 million.

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. The agreement is scheduled to close on May 1, 2026, and is
subject to receipt of requisite approvals and customary adjustments. Production
from the Kakwa Central assets averaged approximately 650 boe per day during the
first quarter of 2026. Post the disposition, Questerre production is expected to
average over 4,500 boe per day including production from its Kakwa North assets
where it holds a 50% working interest.
 
Michael Binnion, President and Chief Executive Officer of Questerre, commented,
"We invested in Kakwa Central over 14 years ago to extend the condensate rich
window of the Montney. It was a success and we jointly drilled over 40 wells to
develop these lands. This sale strengthens our balance sheet without the
issuance of any equity capital. We are focused on developing our other assets
including our adjacent lands at Kakwa North."

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. We are committed to being
transparent and are respectful that the public must be part of making the
important choices for our energy future.

For further information, please contact:

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

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 closing of the
disposition as scheduled on May 1, 2026, the receipt of requisite approvals and
the Company's production post the disposition. 

Although Questerre believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Questerre can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Current
conditions, economic and otherwise, render assumptions, although reasonable when
made, subject to greater uncertainty. Undue reliance should not be placed on
forward-looking information as actual results may differ materially from those
expressed or implied by forward-looking information. 

Events or circumstances may cause actual results to differ materially from those
predicted as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company, including,
without limitation: the following risk factors: additional funding requirements