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To: Proud Deplorable who wrote (116742)	6/3/2008 11:51:48 PM
From: Rocket Red	Respond to of 313153

cqm.h has 22,000-hectare permit The company will retain a 30-per-cent working interest in the shale play, provided Junex completes its earn-in option as previously announced Cdn Quantum learns Fairlady may settle with Junex 2008-05-23 16:06 ET - News Release Shares issued 4,582,723 CQM.H Close 2008-05-22 C$ 0.19 Mr. Douglas Brett reports Canadian Quantum Energy Corp. has learned a letter of intent to settle litigation between Fairlady Energy Inc. and Junex Inc. regarding the Nicolet property, permit No. 2002RS056, in Quebec, has been signed by the parties. Under the settlement terms, the 22,000-hectare permit, located in the St. Lawrence Lowlands, will be returned to Fairlady and Junex will have the right to earn a 50-per-cent interest in the Utica shales by drilling two exploration wells on the permit within the next 18 months. Upon the finalization of the terms of the above-mentioned letter of intent, Canadian Quantum will complete the 2004 transaction whereby it purchased the Fairlady Quebec properties (including this permit) subject to the litigation being resolved. The company will be pleased to have this litigation resolved, as the area has received considerable interest as of late due to the recent Utica shale drilling results released by Forest Oil. We seek Safe Harbor.

To: Proud Deplorable who wrote (116742)	6/4/2008 12:37:30 AM
From: Rocket Red	Respond to of 313153

Headline: Questerre Closes $35 Million Norwegian Private Placement Symbol: QEC CALGARY, ALBERTA--(Marketwire - June 3, 2008) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that it has closed the Norwegian tranche of its previously announced $75 million financing. The total offering consisted of two tranches of 7,500,000 common shares to be completed in each of Norway and Canada. The Canadian tranche has an over-allotment option of 1,125,000 common shares. A total of 7,500,000 common shares were issued at 23.80 NOK (C$4.70) per common share for gross proceeds of $35.25 million. The placement was more than five times oversubscribed and placed primarily with institutional investors. The Company appointed Pareto Securities AS and DnB NOR Markets ASA as its lead managers and SEB Enskilda as co-manager for the issue. Subject to the filing and receipt of the final prospectus by the securities regulators in Canada, Questerre expects the Canadian tranche to close in early June. Questerre is a Calgary-based independent resource company actively engaged in the exploration, development and acquisition of high-impact exploration and development oil and gas projects in Canada. This news release contains forward-looking information. Implicit in this information are assumptions regarding commodity pricing, production, royalties and expenses, that, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. These forward-looking statements are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in the Company's plans, commodity prices, equipment availability, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee made by the Company that the actual results achieved will be the same as those forecasted herein. This news release does not constitute an offer of securities for sale in the United States. These securities may not be offered or sold in the United States absent registration or an available exemption from registration under the United States Securities Act of 1933, as amended.