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Published on 11/23/2004 in the Prospect News PIPE Daily.

New Issue: Questerre Energy raises C$3.42 million in first tranche of private placement

By Sheri Kasprzak

Atlanta, Nov. 23 - Questerre Energy Corp. said Tuesday it has wrapped up the first tranche of a private placement for C$3.42 million.

The company issued 2,012,500 common shares at C$0.25 each and 9,715,000 flow-through common shares at C$0.30 each.

Dundee Securities Corp. was placement agent in the offering.

Based in Calgary, Alta., Questerre is a resource company focused on the exploration and development of natural gas. The company plans to use the proceeds from the deal for its exploration activities this winter.

Issuer:Questerre Energy Corp.
Issue:Common and flow-through common shares
Amount:C$3.42 million
Placement agent:Dundee Securities Corp.
Settlement date:Nov. 23
Stock price:C$0.27 at close Nov. 23
Flow-through shares
Issue:Flow-through common shares
Shares:9,715,000
Price:C$0.30
Warrants:No
Common shares
Issue:Common shares
Shares:2,012,500
Price:C$0.25
Warrants:No

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