THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) is pleased to announce its plans to consolidate the remaining common equity interest in Red Leaf Resources, Inc. (“Red Leaf”) through an exchange of Red Leaf common shares for Class “A” Common voting shares of Questerre (“Questerre Com ...

Core Viewpoint - Questerre Energy Corporation is focused on completing the acquisition of Parana Xisto SA to enhance its oil shale strategy and improve financial flexibility [1][3]. Group 1: Acquisition Details - The acquisition involves purchasing shares of Parana Xisto SA, a privately held oil shale production and refining company in Brazil [1]. - The acquisition is subject to due diligence, board approval, regulatory approvals from the Toronto Stock Exchange and Oslo Stock Exchange, and third-party approvals [3]. Group 2: Financial Considerations - Financial due diligence has revealed a greater need for both short-term and long-term liquidity since the announcement of the acquisition [2]. - The company is working with financial advisors to arrange a comprehensive agreement with bondholders to ensure recovery of their principal [2]. Group 3: Strategic Importance - The acquisition is seen as strategically valuable for advancing the company's oil shale strategy and expanding its distribution business through refining licenses [3]. - The company remains committed to collaborating with stakeholders to restore financial flexibility and realize the potential of the acquisition [3]. Group 4: Company Overview - Questerre Energy Corporation is based in Calgary and focuses on the responsible development of oil and gas resources across the Americas, integrating advanced technologies with a disciplined capital strategy [4].