Quest Oil Corp. Announces Corporate Overview

Quest Oil Corp. (Pink Sheets: QOIL) At the request of the shareholders and numerous inquiries to the company, President Joe Wallen is pleased to provide the following corporate overview on the recent developments.

“Since the acquisition of B&B Oil by Quest, my team has been actively preparing inventories, replacing stock items, hiring work crews and defining a three phase plan. Phase 1 is focused on identifying and establishing an immediate workover program to get the least problematic wells back into production. There are 136 wells capable of producing and 39 water injection wells. Field operations include identifying the least problematic wells out of the 136.

"The Phase 2 program is lease negotiation and acquisition; since inception of B&B Oil, my mandate has been to identify and develop relationships within the local industry by having an ear to the ground. As announced on Sept. 9, 2010, on the negotiations of the Concho County lease, I am very optimistic on a positive outcome. Immediate workover of the 2 existing wells and for the 4 new drill locations already identified provides a good foot hold in the region. This type of project, although requiring geological evaluation, provides for a tremendous amount of geology that has been completed.

"Phase 3 is drilling, site selection, survey and permitting for several locations that have already been identified. Drilling is the basis of our business, with low risk and high deliverability as our focus. The Company's goal over the next 12 months is to have 100 - 200 BOPD from our workover program and have three new wells drilled contributing an additional 250 BOPD.”

About Quest Oil Corp.

Quest Oil Corp. is an independent oil and gas exploration company that seeks to acquire and develop economically attractive and geologically sound properties that have, in management’s view, significant upside potential. Quest Oil is focused on the acquisition of properties that are currently in production and on the development of new drilling opportunities. Quest Oil’s development strategy includes the implementation of state-of-the-art technologies that are deployed to enhance and rework existing, highly predictable wells within proven oil and gas plays. For more information, please visit www.questoil.com.

Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority (“FINRA”) for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission.

Quest Oil (PK) (USOTC:QOIL)
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から 11 2024 まで 12 2024