CALGARY, ALBERTA--(Marketwire - March 12, 2013) -
NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC) (OSLO:QEC) is pleased to announce that Dennis Sykora has joined the Board of Questerre.
Mr. Sykora has over 17 years' experience in the oil and gas industry with a focus on the service sector and international operations. He is currently Executive Vice President, General Counsel and member of the Board of High Arctic Energy Services, a publicly traded service company engaged in contract drilling and specialized completion services. Mr. Sykora is based in Calgary, Alberta.
Peder Paus, Chairman of Questerre, commented, "Mr. Sykora is an excellent addition to our Board. With his strong industry experience coupled with a legal and financial background, we believe he will play an important role as we begin to develop our new core area at Kakwa, Alberta."
Before joining High Arctic in 2007, Mr. Sykora was President of international operations for a Canadian-based drilling contractor. Prior thereto, he practiced as a lawyer and chartered accountant with Felesky Flynn, an Alberta-based law firm specializing in taxation, and Ernst & Young. Mr. Sykora holds Bachelor's degrees in Commerce and Law and is a member of the Law Society of Alberta and the Institute of Chartered Accountants of Alberta.
Questerre also announced that it has accepted the resignation of Pat Quinlan from the Board effective immediately. Mr. Quinlan has recently joined the partnership of Ernst & Young and as such is unable to continue to serve on the board of any publicly traded company. The Board would like to thank him for his valuable contribution over the last three years and wish him the best of luck with his future endeavors.
Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is a leader on social license to operate issues for its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec. In conjunction with a supermajor, it is at the leading edge of commercializing a proven process to unlock the massive resource potential of oil shale.
Questerre is a believer that the future success of the oil and gas 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.
This media release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including the potential and future development of the Kakwa area. Although Questerre believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to Questerre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Questerre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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.