ARLINGTON, Texas, Feb. 8, 2005 (PRIMEZONE) -- Quest Oil Corporation, (OTCBB:QOIL) today reports on the recent accomplishments of the Company in response to questions from shareholders. The Company continues to entertain joint venture and acquisition opportunities as well as develop new financial sources for further growth opportunities.
"We have continued to stay focused on our plans to grow within our boundaries and develop and cultivate our energy sources at our pace," said Cameron King, CFO.
"We are exploring many opportunities as far as securing joint venture partners and expanding our sphere of influence in the industry while maintaining our original plans for domestic crude and natural gas sources decreasing our dependency on foreign imports," King added.
With a strong commitment to the exploration and development of oil and natural gas reserves throughout western Canada and the eastern U.S., Quest Oil has successfully undertaken an acquisition program that has, from the onset, targeted high-quality and low-risk oil and gas prospects. Quest Oil has achieved this via key strategic alliance partnerships with veteran, experienced oil and gas professionals in both Canada and the U.S.
In preparation of Quest Oil's aggressive acquisition, development and production schedule, management has secured a relationship with California-based Sussex Avenue Partners. Sussex is a seasoned investor relations firm, engaged to improve shareholder communications and help us reach our goals of increased market capitalization and increased liquidity for shareholders
Quest Oil relies on the expertise of the Company's management, strategic alliance partners and industry consultants to ensure the authenticity of its reporting. The disclosure of Company activities via news releases is fully reviewed by Quest Oil's corporate attorney, legal counsel and third-party engineers prior to dissemination. All statements regarding oil and gas reserves are from arms length, third-party reservoir engineers.
ON BEHALF OF THE BOARD Quest Oil Corporation Rod Bartlett-President
To find out more about Quest Oil Corporation (OTCBB:QOIL), visit our website at www.questoil.com
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Quest Oil Corporation has little or no control.