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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.
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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.
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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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