Quest Oil Announces the Initial Stage of the Drilling Program on the Hawkeye-Midkiff Fields
KERRVILLE, Texas, Nov. 5, 2010 /PRNewswire/ -- Quest Oil Corp. (Pink Sheets: QOIL) is pleased to announce that its engineering team has picked its first drill site to initiate the drilling program for the Hawkeye-Midkiff fields. The drilling program will be determined from the use of the hydrocarbon imaging plat that has been completed as well as geological studies. The survey and construction of the location have been initiated for the drilling rig.
Joe Wallen, CEO of Quest Oil commented, "Again, we are excited about the potential of our drilling program. As I have stated in the prior news release, we had anticipated drilling by the end of October to the first of November. Due to logistics complications we anticipate drilling to commence within the next 45 days. We are using the hydrocarbon imaging plat as well as other geological data in helping to determine our drilling strategy to allow us to be successful in drilling. We are also confident that we can increase production from the drilling as well as from the workover program. We will have the hydrocarbon imaging posted on the Company's website within the next few days."
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.
SOURCE Quest Oil Corp.
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