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To: Andrew~ who wrote (5453)	2/28/2014 7:14:40 AM
From: Andrew~	Respond to of 203382

QEC-T Questerre Grows Reserves by 40% in 2013 2013 Highlights Development drilling delineates Montney resource assessed at over 130 million barrels of oil equivalent with over 40% as condensate Concluded market access agreements for approximately 6,000 boe/d of Montney natural gas and liquids production Proved and probable reserve grew by 40% to 9.04 MMboe with oil, condensate and liquids accounting for 65% of volumes Cash flow from operations of $13.2 million with average daily production of 885 boe/d for the year stockboard.com

To: Andrew~ who wrote (5453)	6/2/2014 1:30:44 PM
From: Goose94	Read Replies (2) \| Respond to of 203382

Questerre Energy (QEC-T) June 2nd, '14 partner Red Leaf Resources Inc. has secured the final permit and is ready to begin its 300,000-barrel commercial demonstration project in the Uinta basin, Utah. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This is an important milestone for Red Leaf and the future of oil shale. We are looking forward to construction beginning for the first commercial scale capsule this summer." With the issuance of the Construction Permit for its EcoShale production capsule by the Utah Division of Water Quality, Red Leaf now has all required permits in place to commence capsule construction. Red Leaf noted that "its initial capsule will be the first commercialization of oil shale in North America. This is a significant step for the oil shale industry given that the Green River Formation -- which underlies Utah, Wyoming and Colorado -- is considered the richest deposit of oil shale resource in the world. The U.S. Geological Survey estimates that the formation holds more than 3 trillion barrels of oil, with more than 77 billion barrels of recoverable oil in the Uinta Basin alone." "Unlike traditional oil shale retorts which require a lot of energy, use a lot of water and produce significant emissions, Red Leaf's EcoShale extraction process was specifically designed to address the environmental challenges associated with oil shale development," said Red Leaf Chief Executive Officer, Adolph Lechtenberger. "There are more than 20 U.S. patents on the EcoShale technology, which extracts oil with lower energy consumption, lower emissions, lower water use and less environmental impact than any oil shale technology deployed in the world today." "In addition to having less environmental impact, the EcoShale process develops a much higher quality product than traditional oil shale production. Our oil is equal to or better than the industry benchmark of light, sweet West Texas Intermediate crude," Lechtenberger continued. "At today's oil prices, the economics of EcoShale are very good." Red Leaf currently holds oil shale leases on school trust lands in Utah, which will be developed under a joint venture with the French energy conglomerate Total S.A. Red Leaf has additional oil shale leases on land leased in Wyoming, which will be developed under a joint venture with Questerre. Questerre currently holds approximately six percent of the equity capital of Red Leaf. In addition, the Company an option to obtain licenses to utilize the EcoShale process. Oil Shale VS Shale Oil Oil shale is often confused in the media with shale oil and shale gas production. When traditional oil and gas is extracted from shale rock formations like those in North Dakota, Pennsylvania and Texas, it is correctly called shale oil and shale gas, not oil shale. Such extraction process involves drilling for the resource. Hydraulic Fracturing or "fracking" often used when drilling for shale gas and shale oil. By contrast, oil shale development is the process by which a solid organic material rich in hydrocarbons called "kerogen" is converted to crude oil, condensate and natural gas through the application of heat. All traditional oil and gas was once kerogen. Over tens of millions of years, heat from the earth's core caused deposits of kerogen to transform into oil and natural gas. Modern oil shale production simply speeds up the natural process of turning kerogen into oil and gas, either by mining the ore and heating it at the surface or heating it underground (in-situ). EcoShale is a surface mining and processing technology.