From the economy and the way that the world is spinning, I really think that oil is a good long term investment. Companies that show good future planning, excellent asset ventures and good capital should make for good long term investing. Quest Oil is one that is working on getting in the Alberta province prospects. Check them out
ARLINGTON, Texas, Jun 14, 2005 (PRIMEZONE via COMTEX) --
Quest Oil Corporation (OTCBB:QOIL) (www.questoil.com) announces that the first well of the Company's two well drilling program at the Acadia North natural gas project has been surveyed and a surface lease has been negotiated. A drilling license for well 10-34-25-26 W4M is expected to be issued this week and negotiations are underway with a drilling contractor to contract a rig that is active nearby. If this rig can be contracted the well could be spudded as early as June 20th. The second well 15-22-25-26 W4M is being survey and should be ready for drilling immediately after well 10-34-25-26 W4M is complete.
According Quest Oils' Consulting Petroleum Engineer, Richard Johnson P.Eng, "The two wells are being drilled to tap into a Viking natural gas reservoir that has previously produced from wells within half a mile of the two new locations. The earlier wells did not drain the reservoir and independent engineering evaluations of the zone indicate Proved Reserves exist under the lands being earned by the Company through the drilling of these two wells."
Quest Oil has a 100% working interest in the 1,280 acre Acadia North prospect with a net retained interest of 79%. The Acadia Project is located in southeast Alberta near the Saskatchewan border. The Arneson Viking Pool is a shoreface sand deposit and oriented in a NE-SW direction. The porous sand ranges from 30 feet to 46 feet thick and contains gas. Pay zone thickness ranges from 4 feet to 12 feet with a Proven Plus Probable Plus Possible recoverable reserve of 13 BCF with an estimate life of 13 years. July '05 contracts for Natural Gas are trading at $7.260/mmBTU with evidence of continued appreciation and stability over the next few years.
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.
SOURCE: Quest Oil
Quest Oil Corporation Mr. Darren Hayes, Corporate Development 1-866- 264-7668
(C) 2005 PRIMEZONE, All rights reserved.
Posted by bdgee on :
QOIL has taken awing just before close...
Posted by cruz on :
not in but sure fun to watch Posted by bdgee on :
QOIL was up about 75% yesterday and us up 77% so far today....doubled since yesterday about this time. Kinda dragging just under 0.5 for the last hout or so. Maybe an afternoon run? I do hope so!
Posted by Krysten911 on :
I hope that this valuation maintains itself. With the rise in crude oil today, the need for homegrown oil is ever evident. Over the past few months, I put more of my time in to researching oil stocks and other alternative fuel stocks.
Posted by bdgee on :
Certainly, oil and gas look good right now as investments. But only fools, liars, and charlatans maintain it is ever going to be possible to drill enough holes in the earth to supply the energy needs of an over populated world. There is not enough oil and gas under the US to supply California alone, even if we could get it all out and to the refineries and processing plants. We MUST learn to rely on other sources of energy.
Meanwhile, for the sake of my pocketbook, QOIL needs to bust through this resistance at about $0.50, then.......
Posted by Krysten911 on :
Argh- Victim of the classic pump and dump. Hopefully, the value will be realized.
Posted by bdgee on :
Krysten911,
You may want to look at this one anew tomorrow. It did it dangdest to tank in the late afternoon, but rallied back to respectability after hours. There is clearly some interest left out there.
Posted by cruz on :
you guys have something in particular you want me to send to my senators of illinois
Posted by cruz on :
sorry guys - wrong thread
Posted by bdgee on :
Up over 25% so far today. ....sucker tries to stay alive...
Posted by bdgee on :
and ended the day up 31+ percent
Posted by cruz on :
from ihub...
just got off the phone with Cameron King, CFO of QOIL:
5:41pmET
Regarding the float: There are currently 38 million shares total. The float is 10million.
The change was due to settlement with debt holders, so my guess that it had to do with a financing package turns out to be correct.
Cameron assured me that they were, in his opinion, on schedule. He confirmed that they have been having bad weather and that the roads have been an issue.
The rig is curently 5 miles away and we are next in line. They have not moved the rig as of yet, but expect to see it next week. He confirmed that it will take 4 days to drill to the reserves.
I also spoke with him regarding press releases and my concerns with squelching any rumors. He said that he believed we would see an update either Monday or Tuesday.
I followed up the call with an e-mail to Darren Hayes and expect to either speak with him or get a return e-mail before Monday. I'll post anything I receive.
Posted by bdgee on :
Good work, cruz.
Posted by cruz on :
just posting bdgee. this was a post from somebody else at ihub.
Posted by blueranger on :
all these penny oil stock are hot as fire right now.. tnog, omog, qoil, aoor. and there is more.
Posted by Peaser01 on :
Just found this to be a group pick last night, I did a yahoo search for stocks, and low and behold I found a momo group site.
Looks as though QOIL was recent a momo group play.
Posted by doling2005 on :
PAPO is another one that is on fire just started Thursay.
Posted by Machiavelli on :
QOIL looks interesting ... it has had higher lows and lower highs (Symmetrical Triangle)in the last 3 trading days... it most likely will "BURST" either to the up or downside soon.. becareful with this one...
Posted by bdgee on :
Whatever QOIL does from now on, I have sold out to cover my initial investment and then sold half what was left for profit. Of course, as I still hold some, I hope and I believe it has further up to go.
As blueranger and doling2005 point out above, just about any small oil company or oil related company seems to be a good play now. I think AOOR may be about the best bet right now.
But the real grower in energy stocks isn't oil. I think it's DSTI, a company that has a process to manufacture solar panels that don't need silicon, which is in particularly short supply now. DSTI was about $4 a couple of weeks ago and is over $16 now.
Posted by Machiavelli on :
nice pick... as for Oil. i think Oil related stocks are better.. refiners and such.. because they will always have customers and don't have to rely on finding oil...
Posted by Mister Roper on :
Quest Oil to Acquire Wallstin Petroleum and Welcomes Dr. Jim Irwin to the Board Monday June 20, 6:30 am ET
ARLINGTON, Texas, June 20, 2005 (PRIMEZONE) -- Quest Oil Corporation (OTC BB:QOIL.OB - News) announces that the Company has entered into binding acquisition negotiations with Wallstin Petroleum LLC (Wallstin) of Fredericksburg, Texas. Wallstin holds two leases, Stevenson of Hutchinson County, TX holds eight (8) gas and oil wells and the Elder lease of Gregg County, TX holds one (1) oil well. The Hutchinson County field is located in the Texas Panhandle and is a 50 well development program. The purchase price for the two sections is priced at $403,000 for the 100% working interest and will be subject to the issuance of the equivalent value in Company common shares for the asset purchase and is scheduled to close within seven days. PV10 calculations indicate petroleum assets at $4,647,673. Final terms and consideration will be announced on the signing of the formal Acquisition Agreement.
Acadia North Project Update
Transaction Oil and Gas, the operator of the Acadia North Project has advised that they are in receipt of all licenses and permits for wells North 15-22-25-26 W4M and South 10-34-25-26 W4M and drill rig has been mobilized into the area. The window for arrival of the drilling rig for well 10-34-25-26 W4M is between June 23rd and June 28th. It is anticipated that drilling to depth should take 3 - 4 days. Well will be completed, tied-in and brought on line to market. The Company will endeavor to update shareholders as to the timing of drilling with the best information available to us at the time.
Quest Appoints Dr. Jim Irwin to Director
Quest is please to announce the acceptance of Dr. Jim Irwin to the roles of Director and Project Development. Dr. Irwin brings over 25 years of instructional, research and field experience to the Quest team. Dr. Irwin obtained his B.Sc. in geology from McGill University, Montreal, in 1980 and Ph.D. in geology from the University of California, Berkeley, in 1986. Between 1986 and 1992 he was a Research Fellow in the Department of Physics at Berkeley developing techniques for the study of fluid inclusions in minerals associated with ore deposits and other geologic settings. Years 1992-1994 were spent as a Project Scientist at Scripps Institution of Oceanography, San Diego. Dr. Irwin has since been active as a consultant and director of various companies involved in mineral and resource exploration globally. Quest is proud to have attracted Jim to the Company and we look forward to successful future.
Posted by syncopation on :
Moved up on news today. Late day action drove it up nicely. Be sure to watch it in the a.m.
Posted by Machiavelli on :
quote:Originally posted by Machiavelli: QOIL looks interesting ... it has had higher lows and lower highs (Symmetrical Triangle)in the last 3 trading days... it most likely will "BURST" either to the up or downside soon.. becareful with this one...
Guess i was right about this one bursting.. Afterhours has it down .05.. so probably will Gap Down or go down tomorrow for a pullback ... Posted by cruz on :
buy more on the pullback. there is still one more piece of news due out soon.
Posted by syncopation on :
Gapping up, currently L2 sitting at 25 x 0.625 pre-bell.
Let's make some money today.
Posted by sunny on :
GAPPING UP....SHOULD BE AN INTERESTING MORNING. Posted by Krysten911 on :
Does anyone have a website to see who is actually buying and selling? I think the buyers group might be an interesting one to check out on this.
Posted by charger on :
Got in at the pullback... .59
Posted by Machiavelli on :
tomorrow the Government's oil inventory report is due... should be a interesting day... right now im in SVSE in terms of oil stocks because its not overbought/oversold.. but QOIL is pretty much overbought so be cautious tomorrow with the report and all and let's hope it helps us and not kills us...
Posted by syncopation on :
This time I agree with Machiavelli, and I am out. gla
Posted by sunny on :
Anyone watching this one? It's coming down and I was wondering about a potential bounce like AOOR...that one bounced really WELL today!
Keeping QOIL on my list. Posted by Machiavelli on :
ahhh Sunny??... AOOR bounced into a free fall today just like yesterday.. it went from over $2 a share down to .56 a share in two trading days.. if you could short sell it sure it would be a great profit maker right now.. <shrugs> .. anything else is too much of a risk... the risk/ratio isn't worth it...
Posted by Thorn on :
Another run? .55 now
Posted by Bachstocks1 on :
tomorrow should be interesting, we had a small run at the EOD. Possibly news out as well. This stock really has had a nice run. I still believe it could climb up to .75 possible a dollar very soon. Any thoughts?
Posted by Krysten911 on :
Although other sectors are on the downward spiral, energy an utilities remain high. With Quest Oil, they have a lot of activity with acquiring their permits to begin drilling at two site in Acadia North. I managed to talk Darren Hayes, the investor specialist representative, who has confirmed what has publicly been stated- that a rig is on its way to begin drilling at the first site in Acadia north. Beyond that, it would be nice if the Texas acquisitions came through when the rig in Canada breaks ground. From these little pieces of info, even now is a good time to get in before the price gets ready to rise. I am not talking a jump to $10 or anything. Their assets are modest and Quest Oil is in exploration mode for certain. I do not think it is unacceptable to think that this stock could approach $1.50- $2.00 through the summer.
On another note, I have not decided how I would handle these shares when the ever looming "crash" is right around the corner. I would expect the energy sector to survive, but I do not have a crystal ball.
Just my two cents.
Posted by doling2005 on :
Anyone here following BTSI??
Posted by cruz on :
in again at .35 for another run. took a position on the dip when it was on the E for the day. last run i took was .38 to .62. news is expected soon.
Posted by Krysten911 on :
Overall charts look good. The board members in this company all have a lengthy background in the geotechnical industry and company start up. I still believe that this small company will get to the $1- $2 range before long.
This just out:
Quest Oil Announces Acadia North 10-22 Gas Well Reaches Depth and Sets Production Casing Monday July 11, 6:30 am ET
ARLINGTON, Texas, July 11, 2005 (PRIMEZONE) -- Quest Oil Corporation (``Quest'' or the ``Company'') (OTC BB:QOIL.OB - News) announces today that the drilling of the Acadia North 10-22-25-2W4M well has reached casing depth at 723.5 meters, which is three (3) meters above the Viking sand reservoir. The Company has authorized the Operator to set production casing and cement it in to bore hole. Once production casing is set, this will complete the drill program and the rig will tear out and move to the next location, Acadia 15-34. The Acadia well 15-34-25-2W4M has a scheduled spud date of July 17th, 2005. Once the Acadia 15-34 well has been drilled and cased, the two holes will be logged through casing and immediate requisition of an Endless Tubing Unit will move on site and drill out both wells to completion and tie-in.
Quest Oil believes the completion of these wells is the most critical phase of our drill program. It has been advised by Richard Johnson P.Eng., Special Projects Adviser, ``The completion will be made by an Endless Tubing Unit (ETU); the ETU method is far less intrusive when penetrating the pay zone and allows a far greater control when encountering the pay.'' As a matter of clarification, an ETU with a down-hole motor and air compressor will move onto the lease and drill out of the casing with water. The ETU will then switch over to high pressure air and drill into the top of the Viking reservoir, using the air to remove the drill cuttings. As soon as natural gas is encountered, the tubing and the bit will be stripped out of the well under pressure and the wellhead valve closed to wait a flow test and pipeline tie-in.
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Afterhours has it down .05.. so probably will Gap Down or go down tomorrow for a pullback ...