QEC: Questerre wins first bid round for Nova Scotia exploration rights

Calgary, Alberta - Questerre Energy Corporation ("Questerre" or the "Company")
(TSX, OSE: QEC) reported today that it has been selected as the successful
bidder in the first bid round under the province of Nova Scotia's Subsurface
Energy Research and Development Investment Program.

Questerre is in the final stages of negotiating a Petroleum Exploration
Agreement with the province of Nova Scotia covering lands in the onshore
Cumberland Basin of northern Nova Scotia. The basin is prospective for oil and
natural gas in multiple formations. Subject to final terms, the agreement will
provide Questerre with exclusive exploration rights and the opportunity to
advance commercial discoveries to development.

Michael Binnion, President and Chief Executive Officer of Questerre, commented,
"Over 25 years ago, we acquired a significant land position in Quebec that
ultimately led to our giant Utica gas discovery. Our entry into Nova Scotia
offers a similar opportunity to apply our extensive subsurface expertise in a
new prospective basin."
 
He added, "Winning the first bid round allows us to start building relationships
in Nova Scotia-with local communities and landowners, the Department of Energy,
and research partners such as Dalhousie University. We respect Premier Houston's
efforts to strengthen the province's energy security, and we intend to earn our
place in that effort.

He further added, "Our experience in Quebec gave us more than the subsurface
expertise to evaluate a frontier basin. It also gave us a hard-earned
appreciation that earning public confidence is as important to developing a
resource as understanding the geology."

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
Bjorn Inge Tonnessen, Chairman +47.902.01.289 | Email: [email protected] 
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 Company's conclusion of
the Exploration Agreement with the province of Nova Scotia, the terms of the
Exploration Agreement and its views on the prospectivity of this acreage.

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;
exploration, development, and production risks; volatility in the oil and gas
industry; prices, markets, and marketing of crude oil and natural gas; liquidity
and the Company's substantial capital requirements; prices, markets, and
marketing of crude oil and natural gas; political uncertainty; non-government
organizations; changing investor sentiment; global financial market volatility;
adverse economic conditions; alternatives to and changing demand for petroleum
products; environmental risks; regulatory risks; inability of management to
execute its business plan; competition from other issuers; expiration of
licenses and leases; Indigenous claims; possible failure to realize anticipated
benefits of acquisitions; and reputational risks. 

Additional information regarding some of these risks, expectations or
assumptions and other risk factors may be found in the Company's Annual
Information Form for the year ended December 31, 2025, and other documents
available on the Company's profile at www.sedarplus.ca. Readers are cautioned
not to place undue reliance on these forward looking statements. The
forward-looking statements contained in this news release are made as of the
date hereof and Questerre undertakes no obligations to update publicly or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.
ligations to update publicly or revise\
any forward-looking statements\, whether as a result of new information\, future\
events or otherwise\, unless so required by applicable securities laws.\