** Shares of Canadian oil and gas firm Questerre
surge 9 pct to 6.97 Norwegian crowns after anupgrade of reserves in year-end report ** "Our reserve growth reflects the active drilling programat Kakwa this year and the light oil acquisition at Antler", CEOMichael Binnion says in the statement ** Proven and probable gross reserves grew by 20 pct to18.41 MMBoe in ** On its Utica gas resources in Quebec Binnion said: "Thebest estimate of risked contingent resources net to Questerrefor the Becancour and Lotbiniere project areas is unchanged at214 Bcf" ** Broker Sparebank 1 Markets says: "We have alreadyincluded a reserve upside in our SOTP (sum of the part)valuation. Therefore, we do not make any changes to ourforecasts after the announcement or 2017 reserves. We keep buyand NOK 11/share target price." (Olepetter.skonnord@thomsonreuters.com)