HOUSTON, Oct. 25, 2005 (PRIMEZONE) -- Quest Oil, Inc., (OTCBB:QOIL) is pleased to announce a well-respected firm TSC, has upgraded their equity rating on QOIL. This strong upgrade comes at a time when energy prices are reaching year-over-year record highs. TSC is noted for their work with, account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media.
To view the entire independent research report, please click on the attached URL: http://www.tristatecapital.com or visit: http://www.questoil.com.
Cameron King, President and CEO of Quest Oil, Inc. states, "We are honored to have a quality independent research firm review our overall operations and progress and to provide the resulting upgrade in our stock. This provides further confirmation to our shareholders that our company is headed in the right direction. Now that Quest Oil is a producing Oil and Gas company with strong cash flow from its Acadia well 10-22, currently producing 2.25 million cubic feet per day, it has lessened it's requirement for additional outside capital. In addition, the recent funds received from the $8,000,000 financing, Quest is poised for significant growth," Mr. King further stated.
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 Corp. and Wallstin Petroleum LLC.
ON BEHALF OF THE BOARD Quest Oil Corporation. "Cameron King" Cameron King MBA President/CEO-- Director
To find out more about Quest Oil Corporation (OTC BB: 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.