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StockMarketNewsAlert.Com Issues Trade Alert -- Quest Oil Corporation and Carrizo Oil and Gas Inc.

Posted on: Friday, 10 February 2006, 12:00 CST

DEERFIELD BEACH, Fla., Feb. 10, 2006 (PRIMEZONE) -- StockMarketNewsAlert.com issues a trade alert for Quest Oil Corporation (OTCBB:QOIL) (www.questoil.com) and Carrizo Oil and Gas Inc. (Nasdaq:CRZO). Quest Oil Corporation is new to StockMarketNewsAlert.com. According to M. D'Alonzo at First Equity Group, Inc., recent news flow from the company has been very positive. "The company announced it has entered into a joint venture participation agreement for an interest in the Odom (Martin) Ranch No. 1H horizontal well on the Martin-Hyponex prospect from Gaither Petroleum. The well spudded on February 5th, 2006, in Parker County. Participants in the well are Sauder Management Company (Operator), Carrizo Oil and Gas Inc. (Nasdaq:CRZO), Triad Oil and Gas, L.L.C. and Ryder Scott, LP. The well is in the Newark East Field (Barnett Shale) in Southeast Parker County close to the Hood County border.

The participation marks our official entry into the Barnett Shale play and enables Quest to secure significant amount of good quality 3D seismic data that comes with this acquisition. The "Odom (Martin) No.1" will take approximately 25 days drill to TVD of 6,200 ft. and MD of 9,500 ft. Quest is using this as a springboard to look at several other opportunities in the Barnett Shale area.

Bill Stinson, Quest Oil Corporation's COO said, "Having the opportunity to participate in ventures with solid industry partners like Gaither Petroleum, Sauder Management, Carrizo and Ryder Scott is one of the main components in expanding our business strategy. Carrizo has extensive experience in the Barnett Shale and some of the best operations people I've worked with. Carrizo drilled several successful Barnett Shale wells in the area and we expect this well to be no different. Last weeks NAPE conference was very informative in terms of what acreage is available even in the hot Barnett leasing areas like Bosque, Hill and Erath counties."

Acadia North 3D Seismic

Stinson commented, "Acadia 3D processing is nearing completion and the preliminary unmigrated stacks are excellent. Based on what I've seen so far, there are some unusual things in the data that may form the basis for another distinct play. It's subtle and without 3D seismic to define the geometry; one would likely completely miss the opportunity with blind infill drilling."

Hawkeye - Midkiff

According to Stinson, "The Hawkeye/Midkiff area has produced a few surprises. We're getting a lot more oil production from some wells on the Johnson lease than we expected. A review of the production history has revealed that a significant amount of gas has been produced. In the past, this gas has been flared mainly because of the low gas prices at the time. We are looking into the possibility of tying this gas production into the main line. Preliminary indications are that this gas is commercial and can contribute a significant amount of revenue."

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 and PetroStar Oil Services, Inc.

On Behalf of the Board

Quest Oil Corporation. Cameron King, MBA - President and CEO Director.

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. All persons considering an investment in Quest Oil Corporation are encouraged to consult with an investment professional and to review Quest's public filings which are available at www.sec.gov.

For the full profile, the reader's attention should be drawn to our initiating report, which is available on www.StockMarketNewsAlert.com. More information is available on http://www.stockmarketnewsalert.com.

About StockMarketNewsAlert.com

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Information contained herein is the opinion of stockmarketnewsalert.com and is intended to be used strictly for informational purposes. You should be aware that SMNA attempts to assure itself of the accuracy of the information contained in the analyses it publishes. In this regard, SMNA does, at times, rely on the accuracy of information supplied to it by the companies which are the subject of SMNA's analyses and/or parties related to those companies. SMNA also relies on the accuracy and integrity of information that is contained in company press releases and reports filed with the SEC. The companies mentioned in this publication have not approved the content or timing of the information being published unless otherwise noted.

SMNA, because it relies on information supplied by various third parties, disclaims any responsibility for the accuracy of such information. Any investor considering making an investment in any security which has been the subject of a SMNA analysis or opinion should, before making any such investment, consult with his/her market professional and/or do his/her own independent research regarding the company which is the subject of an SMNA opinion, recommendation or analysis.

Information regarding companies which SMNA has an opinion upon is normally available from many sources including the subject company's filings with the SEC and various press releases issued by the company. All material herein is information supplied by the company or other sources believed to be reliable. The information contained herein is not guaranteed by First Equity Group, Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this profile have approved the statements made in this profile. This profile contains forward-looking statements that involve risks and uncertainties. Statements in this press release about the company's future expectations other than historical facts, are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Act of 1934, as that term is defined in the Private Securities Litigation Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements. Such "forward-looking statements" are subject to risks and uncertainties set forth from time to time in the company's SEC reports that could cause results to differ materially from those expressed or implied include, but are not limited to, the results of future tests and the availability of funding for additional research and development. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. First Equity Group is not a licensed broker, broker dealer, market maker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on www.stockmarketnewsalert.com. First Equity Group has received compensation from Quest Oil Corp. of forty two thousand dollars; fifty thousand restricted shares and warrants to purchase an additional 150,000 shares at $0.90, $1.00 and $1.25 per share. First Equity Group's affiliates, officers, directors, and employees may also have bought or may buy the shares discussed in this profile and may profit in the event those shares rise in value. First Equity Group does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.

CONTACT: StockMarketNewsAlert.com D. Baker (954) 943-2273 info@stockmarketnewsalert.com

Copyright © 2006 PrimeZone Media Network, Inc.

Source: PrimeZone Media Network

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