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Quest Oil Schedules Acadia North '15-24' Gas Well Spud Date

Posted on: Tuesday, 26 July 2005, 06:01 CDT

'15-34' Well to Spud July 29th

ARLINGTON, Texas, July 26, 2005 (PRIMEZONE) -- Quest Oil Corporation, (OTCBB:QOIL) the Company's operator, Transaction Oil and Gas Ventures, Inc. has confirmed Acadia North gas well "15-24" will spud on July 29, 2005. As previous indicated in the July 11, 2005 news release, a spud date was targeted for July 17th, 2005; however due to a dramatic increase in drilling activity in the area by several major oil and gas companies, drill rig availability is limited and requires significant lead times.

Quest Oil's "15-34" well is the second well to be drilled under the Company's overall development strategy at Acadia North. The Company expects to reach total depth of 900 meters (2,900 feet) and case the well in 7 days from spud date. The completion phase requires drilling to depth approximately 5 meters above the Viking sand and cement in production casing. Once casing is in place, an Endless Tubing Unit will be required to complete both "10-22" and "15-34" gas wells to the point of production tie-in. Upon completion of production casing, the wells will be put on a tight hole status for 30 days. Furthermore, on July 15, 2005 the Company's AFE of $408,800 for well "15-34" was paid in full.

The Acadia North project is a development property with a natural gas reserve at shallow depth, short payback period and long life reserves. The play is located in the "Viking Sand", the largest Viking hydrocarbon accumulation in Alberta, Canada. Gas prices continue to remain strong with September delivery priced at $7.89 U.S. per mmBtu.

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 in Alberta and Texas, through its 100% owned subsidiaries Quest Canada Corp. and Wallstin Petroleum LLC.

ON BEHALF OF THE BOARD Quest Oil Corporation. "Cameron King" Cameron King MBA -President and CEO

To find out more about Quest Oil Corporation (OTCBB:QOIL), visit our website at www.questoil.com.

Safe Harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Quest Oil Corporation has little or no control.

CONTACT: Quest Oil Corporation Investor Information: Mr. Darren Hayes, Corporate Development (866) 264-7668

Copyright © 2005 PrimeZone Media Network, Inc.

Source: PrimeZone Media Network

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