3SOF

QOIL is finaly breaking up its 6 months flag pattern from the top.

STOCKS: U.S. investors sold off equities as crude oil futures soared after an attack on an oil platform in Nigeria, the fifth largest oil exporter to the United States. A barrel of light crude settled at a three-and-a-half month high of $66.31, up $2.39, in trading on the New York Mercantile Exchange.

Oil prices have been creeping higher for weeks but Tuesday's "sharp, violent rise" bit into stocks as investors consolidated gains from the first weeks of January, said Steven Goldman, chief market strategist, Weeden & Co.

Press Release Source: Quest Oil Corporation


Quest Oil Corporation Announces Nettie Gardner Spud Date
Wednesday February 1, 6:00 am ET 
Hawkeye Coming on Stream and Quest Pays Back First Payment in Cash


HOUSTON--(BUSINESS WIRE)--Feb. 1, 2006--Quest Oil Corporation (OTCBB:QOIL - News; www.questoil.com) is pleased to announce the approval of their first well location, the QNG-3 on the Nettie Gardner lease (API # 42-307-31138) by the Texas Railroad Commission (TRRC). Quest Oil has retained King Drilling out of Zephyr, Texas, to drill the wells. The total contract is for a five-well back to back program to drill the QNG-3, QNG-4, QNG-5, QNG-6 and QNG-7 locations. The rig will be mobilized out of Blackwell, Texas and is scheduled to spud QNG-3 well February 8th, 2006, and is expected to conclude drilling all five wells within 14 days.


Nettie Gardner Lease

Joe Wallen, Quest Oil Corporation's VP of Operations, said, "This drill program is going to provide definitive information on the capabilities of the target zones and will prove the long-term value of the area. The primary objectives of the program are to develop the field and determine the resource limits to the Pennsylvanian-age Jennings gas sand and Gardner oil sand. The main target is the Jennings gas sand which was productive in the Gardner No.1 well and was encountered in the Gardner No.2 well. The Nettie Gardner development plan is to drill the five infill wells, perforate the Jennings gas zones, clean up the perforations in the existing Gardner No. 1 well, perforate the Jennings sand in the Gardner No.2 well and tie all seven wells into the pipeline approximately one mile from the lease."

Hawkeye -- Midkiff Lease

According to Mr. Joseph Wallen, "We're finally starting to realize increasing production from the fruits of our labor. There was more work on rejuvenating the Hawkeye field then we originally anticipated. The Texas Railroad Commission (TRRC) mandated that all injection and disposal wells must demonstrate mechanical integrity and file H-5 forms. Since the workover program was initiated the fields have produced approximately 1,000 barrels of oil. We've just sold one load (180 barrels) of oil on the Johnson lease, we've got two loads waiting to go on the Tarver 'B' lease and one load waiting to go on the McCall/Midkiff leases. In addition, two rigs are now performing workovers and we are waiting on a third work-over rig to arrive and we are currently on the waiting list for two additional workover rigs. Our goal is to have all five workover rigs running to bring all remaining wells on-line as quickly as possible."

Bill Stinson, Quest Oil's COO, advised that, "we're also on the waiting list for a drilling rig to drill two 4500' test wells to prove up the lower Barnett zone. The two drill locations has been surveyed and approved. Rigs that can drill to that depth are in big demand in this area, particularly considering EOG's Barnett Shale activity in the adjacent Erath County. At this point we can't really give a timeline for drilling the well, everything depends on when the rig becomes available."

In other matters, Quest Oil is pleased to announce that, under the $8 million financing agreements entered into by the company on October 6, 2005, the Company has made the first required principal and interest payments in cash.

Note: King Drilling of Zephyr, TX, has no relation or association to Quest Oil Corporation's President and CEO, Cameron King.

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" Cameron King MBA -- President and CEO Director

To find out more about Quest Oil Corporation (OTCBB:QOIL - News), 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
Mr. Darren Hayes, 1-866-264-7668
(Fax) 1-800-608-3562
[email protected]

--------------------------------------------------------------------------------
Source: Quest Oil Corporation

Press Release Source: First Equity Group; Quest Oil Corporation


StockMarketNewsAlert.com Issues Trade Alert -- Quest Oil Corporation
Wednesday February 1, 9:03 am ET


DEERFIELD BEACH, Fla., Feb. 1, 2006 (PRIMEZONE) -- Quest Oil Corporation (OTC BB:QOIL.OB - News) (http://www.questoil.com) 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 that the approval of their first well location, the QNG-3 on the Nettie Gardner lease (API # 42-307-31138) by the Texas Railroad Commission (TRRC). Quest Oil has retained King Drilling out of Zephyr, Texas, to drill the wells. The total contract is for a five-well back to back program to drill the QNG-3, QNG-4, QNG-5, QNG-6 and QNG-7 locations. The rig will be mobilized out of Blackwell, Texas and is scheduled to spud QNG-3 well February 8th, 2006, and is expected to conclude drilling all five wells within 14 days.
 

Nettie Gardner Lease

Joe Wallen, Quest Oil Corporation's VP of Operations, said, ``This drill program is going to provide definitive information on the capabilities of the target zones and will prove the long-term value of the area. The primary objectives of the program are to develop the field and determine the resource limits to the Pennsylvanian-age Jennings gas sand and Gardner oil sand. The main target is the Jennings gas sand which was productive in the Gardner No.1 well and was encountered in the Gardner No.2 well. The Nettie Gardner development plan is to drill the five infill wells, perforate the Jennings gas zones, clean up the perforations in the existing Gardner No. 1 well, perforate the Jennings sand in the Gardner No.2 well and tie all seven wells into the pipeline approximately one mile from the lease.''

Hawkeye -- Midkiff Lease

According to Mr. Joseph Wallen, ``We're finally starting to realize increasing production from the fruits of our labor. There was more work on rejuvenating the Hawkeye field then we originally anticipated. The Texas Railroad Commission (TRRC) mandated that all injection and disposal wells must demonstrate mechanical integrity and file H-5 forms. Since the workover program was initiated the fields have produced approximately 1,000 barrels of oil. We've just sold one load (180 barrels) of oil on the Johnson lease, we've got two loads waiting to go on the Tarver 'B' lease and one load waiting to go on the McCall/Midkiff leases. In addition, two rigs are now performing workovers and we are waiting on a third work-over rig to arrive and we are currently on the waiting list for two additional workover rigs. Our goal is to have all five workover rigs running to bring all remaining wells on-line as quickly as possible.''

Bill Stinson, Quest Oil's COO, advised, ``We're also on the waiting list for a drilling rig to drill two 4500-foot test wells to prove up the lower Barnett zone. The two drill locations has been surveyed and approved. Rigs that can drill to that depth are in big demand in this area, particularly considering EOG's Barnett Shale activity in the adjacent Erath County. At this point we can't really give a timeline for drilling the well, everything depends on when the rig becomes available.''

In other matters, Quest Oil is pleased to announce that, under the $8 million financing agreements entered into by the company on October 6, 2005, the Company has made the first required principal and interest payments in cash.

Note: King Drilling of Zephyr, TX, has no relation or association to Quest Oil Corporation's President and CEO, Cameron King.

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.

To find out more about Quest Oil Corporation (OTC BB:QOIL.OB - News), visit our website at http://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.

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

About StockMarketNewsAlert.com

StockMarketNewsAlert.com was developed solely for experienced, risk-tolerant investors. Subscribers to StockMarketNewsAlert.com receive daily market commentary reports for select companies trading on various markets. Sophisticated investors are also able to receive for free, select, rare research reports and investor kits on up and coming emerging companies while they are still not widely known.

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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 http://www.stockmarketnewsalert.com. First Equity Group has received compensation 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.


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         (954) 943-2273
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--------------------------------------------------------------------------------
Source: First Equity Group; Quest Oil Corporation

>>The rig will be mobilized out of Blackwell, Texas and is scheduled to spud QNG-3 well February 8th, 2006, and is expected to conclude drilling all five wells within 14 days.<<


More news to come. Good reason to hold those shares tight.



Cheers

Yesterday's closing chart.

Technicals
Close Above the 13-day EMA
Percentage Gainer

Last Price Quote is:
13.42%above 13-day EMA
34.77%above 50-day EMA

Could have a Double Bottom (reversal) Pattern in play.

Technicals
Close Above the 50-day EMA
Close Above the 13-day EMA
Percentage Gainer

Last Price Quote is:
18.01%above 13-day EMA
16.23%above 50-day EMA

Press Release Source: Quest Oil Corporation


Dutton Associates Announces Investment Opinion: Quest Oil Rating Strong Speculative Buy In Initiating Coverage By Dutton Associates
Friday March 17, 9:15 am ET


EL DORADO HILLS, Calif.--(BUSINESS WIRE)--March 17, 2006--Dutton Associates initiates coverage of Quest Oil Corporation (OTCBB:QOIL - News) with a Strong Speculative Buy and a price target of $0.90. The 23-page report by Dutton senior analyst Richard R. Wolfe, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias and other leading financial portals.

Quest Oil Corporation has assembled an attractive portfolio of oil and natural gas assets in Alberta, Canada, and Texas, well balanced between high-potential, higher-risk drilling and low-risk, production-ready properties coming on-line at very little capital cost. Management has extensive industry experience that has been instrumental in the Company's rapidly accelerating pace of development, and we expect continued asset and production growth. We estimate that cash flow turned positive in the first months of 2006, and we expect the Company's fourth-quarter results (for the period ended March 31, 2006) to be near break-even, with solid profitability in subsequent quarters. Our cash-flow projections indicate fast-paced growth through 2006 and 2007. By 2008, the Company should be generating discretionary cash flow well in excess of currently estimated capital expenditures. In particular, we estimate that in 2008 and subsequent years, Quest should have approximately $20 million per year available for reinvestment or for share buybacks. Our valuation of Quest common shares, employing the discounted cash-flow method, indicates a $0.90 share price, 200% higher than recent levels for the shares.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 29 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 130 enrolled companies, and its research, estimates and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. The Firm does not accept any equity compensation. We received $35,000 from the Company for 4 quarterly Research Reports with coverage commencing on 3/17/2006. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.

Contact:
Dutton Associates, LLC
John M. Dutton, 916-941-8119

--------------------------------------------------------------------------------
Source: Quest Oil Corporation

Press Release Source: Quest Oil


Quest Oil's Bid a Success in Purchase of Acadia Land
Tuesday March 14, 6:00 am ET
3D Seismic Interpretation Complete; Sets Target Drill Locations


HOUSTON, March 14, 2006 (PRIMEZONE) -- Quest Oil Corporation (OTC BB:QOIL.OB - News) is pleased to announce that subsidiary Quest Canada Corp. was successful in acquiring two sections of land and all PNG rights at the Alberta Crown Land sale held on March 08, 2006.

The newly acquired leases are located in the Acadia Valley and are an extension of the Arneson Viking gas pool that was encountered by test wells ``15-34'' and ``10-22''. The sections are approximated one mile northeast of section 34-25-2W4 and directly south of our lands Section No. 11 and No. 12. Quest's successful bid on sections 1-25-2W4 and 2-25-2W4 provide all rights from surface to basement for a five year period and bring the Acadia North land holdings to seven (7) sections totaling 4,480 sq. acres. Quest Oil's President and CEO, Mr. Bill Stinson further stated that, ``The size of the Acadia field is growing nicely from only two sections this time last year to over seven square miles today.''

Mr. Stinson is also please to announce that the interpretation and mapping of the Acadia North 3D seismic shoot was completed just in time to provide detailed information for the recent land sale and proving a valuable resource when projecting values on potential production locations. ``Based on the positive results of the seismic shoot, we have put in motion a four well horizontal drilling program. Dr. Norman Neidell, the consultant that has processed and interpreted the data and has selected four locations based on structural elevation of the Viking sandstone that will maximize production yields. Transaction Oil and Gas Services Ltd., will be operator and will be responsible of permitting and survey.''

Odom Ranch No.1H Well

Quest Oil is pleased to announce that it has agreed to participate in the completion of the Barnett Shale Odom Ranch No.1 H horizontal well in Parker County that commenced drilling on February 5th, 2006 and has reached TD of approximately 9,000 feet. Mr. Stinson stated, ``Based on our examination of the data, Quest Oil Corporation has elected to participate in the completion of the well. The participation in this project, has granted us access to the operational aspects of drilling Barnett Shale horizontal wells which will prove beneficial in our upcoming deep well drill program for Hawkeye/Midkiff leases.''

Nettie Gardner

Due to the continued delays in drill rig availability in the Nettie Gardner, McCullough County area, Mr. Stinson advises, ``That we have decided to put priority on the in-fill drilling program for the Hawkeye -- Midkiff fields; the continued delays in spudding Nettie Gardner has started to encroach on our schedule of events of the other areas. We have already engaged a local drilling company to launch a shallow in-fill drill program on the Hawkeye field and is scheduled to be on site within the week. The five well drill program for Nettie Gardner will be re-scheduled once drill rigs are more readily available and commitments can be met.''

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., Wallstin Petroleum LLC and PetroStar Oil Services Inc.

ON BEHALF OF THE BOARD

Quest Oil Corporation. ``William Stinson'' William Stinson President CEO

To find out more about Quest Oil Corporation (OTC BB:QOIL.OB - News), visit our website at http://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
          Mr. Darren Hayes
          Corporate and Business Development
          Tel: (713) 243-7887
          Fax: (713) 243-8801
          [email protected]
          www.questoil.com
--------------------------------------------------------------------------------
Source: Quest Oil