Questerre updates next steps following ruling on Bill 21

Calgary, Alberta - In response to shareholder inquiries, Questerre Energy
Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) provided an update on
upcoming events following the ruling by the Qubec Superior Court (Civil
Division) last week on the Company's application to stay key provisions of the
Act ending exploration for petroleum and underground reservoirs and production
of petroleum and brine (the "Act"), for the duration of the judicial
proceedings. This application was made to preserve Questerre's rights.

In the meantime, the Company is proceeding with the main hearing on the merits
of the case in accordance with procedural rules in Québec, including its debate
on the constitutional validity of Bill 21. The judicial process is at the
discoveries stage, the next step being pre-trial examinations. The Justice
recently ruled that the examinations will proceed as originally scheduled,
despite the request of the Attorney General for postponement of these
examinations. Following the completion of pre-trial examinations, a date will be
set for the main hearing.

Michael Binnion, President, and Chief Executive Officer of Questerre, reported,
"The exceptional stay of key provisions of the Act and confirmation by the
Justice that there are serious issues to be formally debated and decided upon,
preserves our investment from potentially irreparable harm while we pursue our
legal claims pending final judgement. While our main goal remains to seek a
business and political solution, the protection of our legal position remains a
key priority."

The Company also reported that it has published on its website the official
French and an English translation of the ruling. It can be found online at
https://www.questerre.com/wp-content/uploads/2024/01/2024-01-25-Decision-English
.pdf, or
https://www.questerre.com/wp-content/uploads/2024/01/2024-01-25-Decision-Francai
s.pdf. A copy is also published on the NewsPoint disclosure system of the Oslo
Stock Exchange.

Questerre is an energy technology and innovation company. It is leveraging its
expertise gained through early exposure to low permeability reservoirs to
acquire significant high-quality resources. We believe we can successfully
transition our energy portfolio. With new clean technologies and innovation to
responsibly produce and use energy, we can sustain both human progress and our
natural environment. 

Questerre is a believer that the future success of the energy 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.

For further information, please contact:

Questerre Energy Corporation
Jason D'Silva, Chief Financial Officer
[phone] | [phone] (FAX) |Email: [e-mail]

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements") including the Company's
views on the protection of its legal position. Forward-looking statements are
based on several material factors, expectations, or assumptions of Questerre
which have been used to develop such statements and information, but which may
prove to be incorrect. Although Questerre believes that the expectations
reflected in these forward-looking statements are reasonable, undue reliance
should not be placed on them because Questerre can give no assurance that they
will prove to be correct. Since forward-looking statements address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Further, events or circumstances may cause actual results to
differ materially from those predicted as a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of
the Company, including, without limitation: certain other risks detailed from
time-to-time in Questerre's public disclosure documents. Additional information
regarding some of these risks, expectations or assumptions and other factors may
be found under in the Company's Annual Information Form for the year ended
December 31, 2022, and other documents available on the Company's profile at
www.sedar.com. The reader is cautioned not to place undue reliance on these
forward-looking statements. The forward-looking statements contained in this
news release are made as of the date hereof and Questerre undertakes no
obligations to update publicly or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.

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