OSE Ose Corp.

Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC)
reported today that is has filed a preliminary prospectus with the securities
regulators in Canada for its recently announced Canadian equity placement. The
placement will consist of the issuance of 7.50 million common shares at $4.70
per common share conducted by a syndicate of underwriters led by Dundee
Securities Corporation.


In preparing the prospectus, Questerre revised calculations of non-cash items of
Depletion and Future Tax Asset as at and for the three months ended March 31,
2008. Accumulated Depletion has increased from $60,548,352 to $61,198,352, an
increase of $640,000 and the Future Tax Asset has decreased by $170,000 to
$3,209,481 as at March 31, 2008. In connection with the revised calculations,
Questerre has filed amended and restated financial statements and management's
discussion and analysis as at and for the three months ended March 31, 2008.
Questerre's cash flow from operations remains unchanged at $3.94 million for the
first quarter of 2008.


Subject to filing and receipt of the final prospectus, anticipated to occur in
early June, it is expected that the prospectus will facilitate the issuance and
listing of the 7.50 million common shares issued in Canada on the Toronto Stock
Exchange ("TSX") and Oslo Stock Exchange ("OSE").


Closing of the previously announced Norwegian offering, anticipated to occur
this week, will result in an additional 7.50 million common shares being issued
in Norway at 23.80 NOK (C$4.70) per common share and listed for trading on OSE
upon receipt of the final prospectus. Upon receipt of the requisite
documentation, these additional shares will also be listed on the TSX.


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.

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