KERRVILLE, Texas, March 18, 2011 /PRNewswire/ -- Quest Oil Corp.
(Pink Sheets: QOIL) announced that it is close to finalizing the
acquisition of a 540 acre oil, gas and mineral lease located in
Coleman County, Texas. Quest
has initiated imaging on additional acreage adjacent to this
lease.
Mr. Joe Wallen, CEO and Director
of Quest Oil commented, "The potential acquisition of this oil and
gas lease, which is in its final stage, will add substantial
reserves to the Company's assets of approximately 1.6 million
barrels of recoverable oil. We have initiated imaging by
Hydrocarbon Imaging, Inc. to be conducted on acreage adjacent to
the current acreage we are finalizing."
About Quest Oil Corporation
Quest Oil Corporation 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 Corporation is
focused on the acquisition of properties that are currently in
production, and on the development of new drilling opportunities.
Quest Oil Corporation'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.qoilcorp.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.
SOURCE Quest Oil Corp.