QOIL : Oil Play.

[3puttssuck]

I bought some more.  More news out 30 minutes ago.  I like the President's quote "With a very successful Acadia Project soon to be in production":

Quest Oil Acquires Empress Project and Spuds Well '12-15' August 16, 2005
Monday August 15, 12:00 pm ET

ARLINGTON, Texas, Aug. 15, 2005 (PRIMEZONE) -- Quest Oil Corporation (OTC BB:QOIL.OB - News) is pleased to announce the Company has acquired a 100% working interest in the Empress Project, located 160 miles east of Calgary, Alberta. Empress consists of 4 sections of Crown P&NG rights where Quest Oil is acquiring a 100% working interest in 4 sections upon the drilling of well 12-15 24-2W4M. The Empress Project holds the lease rights from surface to basement entailing five known production zones: Bakken, Banff, Detrital, Colony and Viking. Well ``12-15'' will be operated by Transaction Oil and Gas Ventures Inc. Transaction is already is in possession of well license and permits and has a confirmed spud date of August 16, 2005. Quest Oil has retained Mr. Richard Johnson as Project Advisor, who was instrumental in locating the Acadia North ``10-22'' gas well.

Quest Oil President and CEO Cameron King states, ``The Empress Project is a feather in our cap. With a very successful Acadia Project soon to be in production, we are being offered quality projects with substantial upside potential allowing for high ROI results. Empress is one project that consists of four (4) sections with reserves and a recent discovery immediately to the east of the ''12-15`` well. Empress is a project that fits our strategy of low risk and high return.''

The Empress Project is subject to a 18% GORR (Gross Override Royalty Rate). All lands are Crown and are subject to usual Crown royalty.

[setravis]

Good to see some news come out.
I'm still holding this pup from 0.17...Looking good today!
Busted through the 200 day-MA ...nice

[3puttssuck]

Setravis,

Congrats on the 0.17 - what a great price to be in at.

Just took out the daily high.  Volume is real nice.  Maybe see 6-7M today.  I would like to see it pass that high of .69 from June.  Who knows from there?

[tommyt]

Setravis, I should have joined the Marines to get some of the discipline you have. It looks like you will have a convergence of the 200MA with the 50MA, very bullish. Congrats.

[setravis]

Setravis, I should have joined the Marines to get some of the discipline you have. It looks like you will have a convergence of the 200MA with the 50MA, very bullish. Congrats.

Tommyt, How did you guess that I was an X-Marine
Have a great day with your trades!
I tend to hold longer than other traders, sometimes it gets me into trouble.

[3puttssuck]

Briefly touched a new daily high at .67

QOIL #1 traded OTC stock today.  Bring on the .70s

[setravis]

I hear you 3puttssuck, bring it on,we can stand it!
Good luck with your trades,and thanks!

[setravis]

QOIL was rockin today.
Volume up and so was the price.

****************************************************************

Press Release Source: Business Consulting Group Unlimited


Quest Oil Discusses the Successful Drilling of Acadia North in Interview Available on AudioStocks.com
Monday August 15, 4:38 pm ET


SAN DIEGO, Aug. 15, 2005 (PRIMEZONE) -- AudioStocks.com is pleased to announce that it has posted an interview with Cameron King, Chief Executive Officer of Quest Oil (OTC BB:QOIL.OB - News) on the http://www.audiostocks.com website. Mr. King discusses Quest Oil's successful drilling of Acadia North Prospect. Mr. King is joined by Quest's Special Project Engineer, Richard Johnson.
Mr. King and Mr. Johnson also provide insight into today's announcement regarding the acquisition of a 100% working interest in the Empress Project.

[AustinPowers]

Hey guys, this stock has been great lately.  I that a possible head and shoulders bottom that is shaping up here? 

[3puttssuck]

Wondering what anyone thinks on QOIL?  Lately they seem to release news on Mondays.  Will there be a further drop to buy back or is this the short-term bottom?

Comments?

[3puttssuck]

I bailed with a small gain.

It got creamed today (-19%) and down 40% from last week's high of $0.85.  It may fall through the 50 day MA soon.  Any comments on a re-entry point?  Chart shows the RSI 30 has been a good entry point 2 other times.  They have a lot in the works and need some capital.

Here's an excerpt from the 10QSB report:

"We currently have limited capital with which to satisfy our cash requirements.
As of August 18, 2005, we have approximately $100,000 cash on hand remaining. We will require significant additional capital in order to explore for new projects and to begin drilling.

Our expectations are based on certain assumptions concerning the anticipated costs associated with any new projects. These assumptions concern future events and circumstances that our officers believe to be significant to our operations and upon which our working capital requirements will depend. Some assumptions will invariably not materialize and some unanticipated events and circumstances occurring subsequent to the date of this annual report. We will continue to seek to fund our capital requirements over the next 12 months from the additional sale of our securities, however, it is possible that we will be unable to obtain sufficient additional capital through the sale of our securities as needed."

[setravis]

On the move this morning...


QUEST OIL CORP (OTC BB:QOIL.OB) Delayed quote data 

Last Trade: 0.70
Trade Time: 9:53AM ET
Change:  0.04 (5.26%)
Prev Close: 0.67
Open: 0.70
Bid: 0.69 x 2500
Ask: 0.70 x 2500
1y Target Est: N/A

  Day's Range: 0.70 - 0.75
52wk Range: 0.09 - 2.00
Volume: 931,263
Avg Vol (3m): 1,944,110
Market Cap: 26.76M
P/E (ttm): N/A
EPS (ttm): -0.05
Div & Yield: N/A (N/A)

[setravis]

Some news out....

*************************************************************

Press Release Source: Quest Oil


Quest Oil: Acadia North 10-22 Gas Well Flow Rates and Empress Well 12-15 Spuds and Sets Surface Casing
Thursday August 25, 6:00 am ET


ARLINGTON, Texas, Aug. 25, 2005 (PRIMEZONE) -- Quest Oil Corporation (``Quest'' or the ``Company'')(OTC BB:QOIL.OB - News) is pleased to announce that analysis of the test on its Acadia 10-22-25-2w4m has been completed. The well has a calculated Absolute Open Flow Potential of 58 Million Cubic Feet per Day (MMCFPD). The Company's engineering firm, CHAPMAN Engineering, advised the Company that it has an estimated ``gas-in-the-ground'' value of $17.67 million.


After a review of a number of recent projects in the area, Chapman Engineering has prepared an overview of the numbers based on the latest pricing of gas and determined that at a value of $4.00/Mscf of developed reserves would be a reasonable assumption. These values may be subject to change after the final detailed cash flow analysis has been completed.

Marketable reserves for well 10-22 have been estimated volumetrically as presented below. These reserves are supported by material balance of this Viking pool. Effective drainage area and recovery factors are the main variables in this determination, resulting in a range of volumes for different reserve categories, all of which are governed by Chapman's confidence factors.



Category                  Volume -         Value @ $4.00/Mscf -
                           MMscf            $MM
Proved Developed          1957             $7.83
Proved Plus Probable      3187             $12.75
P+P+P                     4418             $17.67

Chapman Engineering stated, ``Well 10-22 is a highly capable well (18 MMscf/d surface AOF), which we anticipate will be produced at about 2.0 MMscf/d with minimal drawdown to maximize recovery.''

Quest also has commenced drilling on the Empress project, well 12-15-24-2w4m. This well is approximately 7 miles south of the Acadia project. This is a deeper well than the Acadia wells and even though the Viking zone is a prospective horizon in this project, the main target is the Detrital and two Mississippian zones that had hydrocarbon in a well 1/2 mile west of the 12-15 drill site. Results of the testing of the offset well are still confidential but are known to be very commercial. Logging and testing of the 12-15 well are expected to in the next few days.

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 (OTC BB:QOIL.OB - News), visit our website at http://www.questoil.com.



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


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

[setravis]

 

QUEST OIL CORP (OTC BB:QOIL.OB) Delayed quote data 

Last Trade: 0.63
Trade Time: 11:00AM ET
Change:  0.05 (8.62%)
Prev Close: 0.58
Open: 0.63
Bid: 0.63 x 2500
Ask: 0.64 x 2500
1y Target Est: N/A

  Day's Range: 0.60 - 0.69
52wk Range: 0.09 - 2.00
Volume: 1,303,887
Avg Vol (3m): 2,012,680
Market Cap: 24.75M
P/E (ttm): N/A
EPS (ttm): -0.05
Div & Yield: N/A (N/A)

[setravis]

 
Heading north this morning
+31.23%.....volume....728,552