Questerre Energy Corporation reported that it has recently completed the first phase of a core hole program to assess its oil shale licenses in Saskatchewan. The winter program was designed to evaluate the western block, known as the Arborfield block, covering 58,112 net acres. During the first quarter of 2012, over 700m of continuous core was obtained from 10 new wells. The wells were drilled to an average depth of 100m with wireline logs acquired from surface to depth. Good core was recovered throughout the Second White Specks shale, the primary formation of interest. Approximately 30m of the target oil shale formation was encountered in all the wells drilled.
Approximately 400 core samples from these wells are currently being analyzed for geochemical properties. Testing will also include modified Fisher assay analysis to evaluate the potential oil yield and an assessment of the prospective oil shale resource. Questerre is currently permitting a summer program of up to 10 additional wells. These wells will gather core data to evaluate the eastern block, known as the Wildcat Hills block, covering an additional 42,572 net acres. The Company's 100,684 net acres in east central Saskatchewan overlies a well documented oil shale deposit. The Company is primarily targeting the Second White Specks formation on this acreage. The coring program is designed to assess prospective oil shale resource and potential for the application of oil shale mining technology.