March 19 (Reuters) - Questerre Energy Corp QEC.TO :
* REPORTS OVER 60% INCREASE IN RESERVES
* RESULTS FROM KAKWA NORTH CONTRIBUTED TO A SIGNIFICANT INCREASE IN OUR RESERVES
* CORPORATE PROVED AND PROBABLE RESERVES GREW BY 63% OR 11.5 MMBOE TO 29.96 MMBOE, NET OF PRODUCTION DURING 2018
* BEFORE TAX NPV-10% ESTIMATED FOR CORPORATE PROVED AND PROBABLE RESERVES USING AVERAGE PRICE FORECAST OF THREE RESERVE ENGINEERING FIRMS IS $228.95 MILLION
* VERY ENCOURAGED BY RESULTS FROM KAKWA NORTH AND POTENTIAL FOR DEVELOPING MULTIPLE MONTNEY INTERVALS
* CURRENTLY WE ARE BEING ASSIGNED RESERVES FOR ONLY TWO INTERVALS IN MONTNEY BUT THIS ACREAGE IS ALSO PROSPECTIVE FOR LOWER MONTNEY WHERE THERE ARE SEVERAL TESTS IN AREA
* RECENTLY NOTIFIED BY AN INDUSTRY OPERATOR OF THEIR PLANS TO LICENSE TWO MULTI-WELL PADS FOR UP TO 54 WELLS DIRECTLY OFFSETTING ONE OF OUR FARM-IN WELLS AT KAKWA NORTH