ARLINGTON, Texas, July 1, 2005 (PRIMEZONE) -- Quest Oil Corporation (OTCBB:QOIL) (www.questoil.com) received notification from the Acadia North project operator, Transaction Oil and Gas, that the rig mobilization will commence July 2, 2005, moving the drill date to July 3, 2005.
Quest Oil has a 100% working interest in the 1,280 acre Acadia North prospect with a net retained interest of 79%. The porous sand ranges from 30 feet to 46 feet thick and contains gas with an estimated reverse of 13 BCF.
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.
ON BEHALF OF THE BOARD Quest Oil Corporation Mr. Cameron King MBA, CFO
To find out more about Quest Oil Corporation (OTCBB:QOIL), visit our website at www.questoil.com.
This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur.