ARLINGTON, Texas, Aug. 1, 2005 (PRIMEZONE) -- Quest Oil Corporation (OTCBB:QOIL), is pleased to announce that the Company has been informed by its operator, Transaction Oil and Gas Ventures, Inc., that drilling has commenced on the Acadia North Gas Project, Alberta. The 3,000 foot "15-34" natural gas well was spud July 31, 2005 and is drilling to the top of the Viking Sand.
Quest anticipates the drilling and casing to take approximately one week. Once production casing has been installed to depth, Quest will log and pressure test both wells for the purpose of obtaining accurate estimates of shut-in reservoir pressure, reserve size and estimating production flow rates. An Endless Tubing Unit (ETU) has been requisitioned to be on site for the completion of both wells "10-22" and "15-34." The ETU inserts the production tubing into the casing and will perforate the Viking Sand by using high pressure water and air to cut through the remaining few feet.
The main objective of the 1,280 acre Acadia North Project is the Viking Sand that has a potential reserve of 13 BCF gas. The Acadia North project is a natural gas reserve at shallow depth, short payback and long life reserves. The play is located in the "Viking Sand", the largest Viking hydrocarbon accumulation in Alberta, Canada. Quest Oil holds 100 percent working interest over the project.
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 percent owned subsidiaries Quest Canada Corp. and Wallstin Petroleum LLC.
ON BEHALF OF THE BOARD
Quest Oil Corporation. "Cameron King," Cameron King, MBA -- President and CEO.
To find out more about Quest Oil Corporation (OTCBB: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.