PATERSON, N.J., July 17, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), a Kentucky based operator of energy and mineral related properties, announced today that its wholly owned subsidiary, Gwenco, Inc., has verbally accepted a higher strike price per ton on coal with Logan & Kanawha Co., LLC., a West Virginia company. This increase would amend their continuing purchase order for up to $8 million of coal through December 2008.
Eugene Chiaramonte, Jr., President of Quest, stated, ``We are very excited about this new commitment as the company stands to realize an additional 10% in revenues, and we fully anticipate being able to fulfill the entire order during the course of 2008. We expect to announce initial progress reports on operations next quarter.''
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About Quest Minerals & Mining
Quest Minerals & Mining Corp., or Quest, acquires and operates energy and mineral related properties in the southeastern part of the United States. Quest focuses its efforts on properties that produce quality compliance blend coal.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Quest believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against Quest and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which Quest does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.