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About Questfire

Diversified assets. Solid cash flow. Oil-focused operations.

Business Growth Strategy

Questfire is working to achieve its Vision of profitable growth by applying an operating strategy and a business growth strategy.

With an asset base diversified by geography, commodity and geology, production of approximately 5,000 boe per day in the first quarter of 2014, and solid funds flow from operations, Questfire’s business growth strategy centres on identifying and pursuing opportunities that will create value for shareholders. To date Questfire has identified and begun pursuing a mix of new production – including multi-zone liquids-rich vertical gas wells, vertical light oil wells and low-risk horizontal conventional heavy-oil wells – plus optimization of producing assets to reduce operating costs per boe. The Corporation will also continue to evaluate further candidates for acquisition, and divestiture of non-core, non-operated production.

Questfire’s management and technical teams have extensive industry experience in many aspects of the upstream oil and natural gas industry, from organic growth via exploration and development drilling, to acquisitions and optimization of producing assets. This experience allows Questfire to go where the opportunities are. An example is the recently completed acquisition of conventional producing assets.

Questfire will remain focused on maintaining a low cost structure. This focus includes limiting its overhead and G&A costs, reviewing and optimizing field operating costs and carefully selecting drilling and recompletion projects to maximize capital efficiencies and limit finding and development costs. The asset base will also be continuously optimized with the goal of reducing non-core assets and building up core areas with low operating costs and high working interest. Maintaining high working interest and operatorship are key operating principles, enabling Questfire to control its operations and achieve its other goals in a timely manner.

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