HOUSTON, Oct. 17, 2005 (PRIMEZONE) -- Quest Oil Corporation (OTCBB:QOIL), through its wholly owned subsidiary Quest Canada Corporation, announced today the startup of the Company's Acadia North "10-22" natural gas well from the Acadia North Project located in Alberta, Canada.
The Company has commenced production at a rate of 2 million cubic feet of gas per day (mmcfd). Gas is being transported through the recently completed pipeline which connects Acadia "10-22" to Altagas's existing natural gas pipeline infrastructure serving residential, utility and industrial markets throughout Western Canada and the U.S.
Project Advisor and petroleum engineer, Richard Johnson stated, "The 10-22 well is currently producing 2 mmcfd and is being held back during its early production to evaluate its performance. Gas production from the well will continue to be controlled so that the well does not damage itself by producing at an excessive rate. The well produced at a stable rate of 5 mmcfpd at a wellhead pressure of 864 psi during AOF testing. Delivery pressure into the gas gathering line is under 200 psi, so the well is capable of much higher production rates. The calculated sandface Open Flow Potential (AOF) of the well is 58 MMCFPD."
The Acadia Project was first announced in December 2004, is located approximately 160 miles east of the City of Calgary, Alberta. Current production is coming from one well at the 10-22- 25-02 W 4M location. Two additional wells at a "15-34" and "6-23" well locations are expected to come online in November, 2005. By year-end, Acadia production is expected to approach 8 mmcfd from 6 producing natural gas wells.
"The successful development of the Acadia Project is an major milestone in Quest's efforts to commercialize its Acadia Project gas position," said Cameron King Quest Oil's President and CEO "We are now making significant investments to grow this business to help meet the increasing need for new sources of natural gas."
ABOUT QUEST OIL CORPORATION
The Company is committed to the exploration and development of economical oil and natural gas reserves globally. Quest management is focused on an acquisition program targeting high quality and low risk prospects. Initially Quest is focused on the development of North American oil and gas resources allowing highly leveraged production opportunities in Alberta and Texas, through its 100% owned subsidiaries Quest Canada Corporation, Wallstin Petroleum LLC and PetroStar Oil Services, Inc.
ON BEHALF OF THE BOARD Quest Oil Corporation "Cameron King" Cameron King MBA - President and CEO
To find out more about Quest Oil Corporation (OTC BB: QOIL), visit our website at www.questoil.com.
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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. All persons considering an investment in Quest Oil Corporation are encouraged to consult with an investment professional and to review Quest's public filings which are available at www.sec.gov.