Questerre Energy (QEC) Corporate Presentation summary

Financial and operational highlights

• Funds flow from operations reached $3.4 million, with capital expenditures also at $3.4 million and a working capital surplus of $27.6 million as of Q3 2024.

• Market capitalization stood at $120 million (Feb 2025), with 1,913 boe/d production weighted 58% to oil and liquids.

• Revenue per boe was $53.75, and operating netback was $27.06 per boe.

• Credit facility of $16 million remains undrawn, and daily trading volume averages 0.8 million shares.

Key assets and resource base

• St. Lawrence Lowlands, Quebec: 198 BCM (7 Tcf) gas discovery, with 45 BCM (1.6 Tcf) risked contingent and 153 BCM (5.4 Tcf) prospective resources.

• Western Alberta: Condensate-rich Montney play with current Kakwa production of ~1,400 boe/d and ongoing drilling to increase output.

• SE Saskatchewan/SW Manitoba: Tight oil production from Torquay/Spearfish with strong netbacks.

• Utah and Jordan: Strategic interest in Red Leaf with patented oil shale technology and over 7 billion barrels unrisked discovered resource in Jordan.

Quebec natural gas and LNG export strategy

• Quebec gas discovery is within 10 km of a permitted LNG export facility at Bécancour, with Rabaska as an alternative site.

• LNG export from Quebec to Europe offers a faster route (8 days to Poland) than US or Qatar alternatives.

• Federal and provincial governments show support for diversifying energy markets and LNG exports that meet environmental criteria.

• Small-scale LNG for remote Quebec markets is a potential first step.