Major financial News for this Oil and Gas Co.

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Looking for a company with some good news that just came out today?  Here's one!

Major Financial NEWS was released Today

Quest Oil Closes Initial Funding For Acadia Gas Project

ARLINGTON, Texas, May 19, 2005 (PRIMEZONE) -- Quest Oil Corporation (OTC BB:QOIL.OB) is pleased to announce the successful closing of $750,000 in financing that will be used for the Acadia North Gas Project. Please see today's 8K for more detail.

Through the efforts of Midtown Partners & Co., LLC as lead placement agent, all participants have come to an agreement on funding details. The gross funding of $750,000 has cleared escrow and has been received by the Company. The Company's CFO, Cameron King indicated, ``Quest is excited to start the first of many of its planned investments into oil and gas development projects. The successful drilling and completion of the Acadia project may provide the leverage for Quest to become a multi-million dollar annual producer.''

 An immediate watch is being issued right now. Anyone wondering why oil and gas companies are one of the hottest sectors out there?

Quest Oil Corporation

***QOIL***QOIL***QOIL***QOIL***QOIL***QOIL***QOIL***

Important Recent news,

Quest Oil Successfully Completes and Closes Acquisition of Acadia North Gas Reserve

Quest Oil Corporation (OTCBB:QOIL) today announces that it has completed the acquisition to acquire a 100% working interest in the two-section Acadia North prospect, located in Alberta, Canada. A third party reservoir engineering firm "Chapman Engineering" confirms reserves proved and probable of 3 BCF with a revenue value of $18 million. (Partial clip only.  Go to yahoo to read the entire release)

Quest Oil Appoints TransAction as its Operator For its Acadia North Gas Project

Quest Oil Corporation (OTCBB:QOIL) (www.questoil.com) announces the engagement of TransAction Oil & Gas Ventures Inc. of Calgary, Alberta (TransAction) as their operators for the Acadia North project. The agreement with TransAction will cover the drilling of the test well, all follow up wells and other activity in the area. Herb Miller, P.Geol., is the President of TransAction with over 46 years of experience. His team includes such notables as Charlie Chapman of Chapman Petroleum Engineering. (Partial clip only, go to Yahoo and read the entire release)

Mission Statement

Quest Oil's mission is to deliver a competitive and sustainable rate of return for our shareholders by acquiring, exploring and delivering oil & gas properties around the world.

Their Strategy

Quest is a publicly funded oil & gas company that maintains a balanced risk portfolio. We target large impact projects with high net revenue interests, where risk has been substantially reduced by meticulous technical evaluation and geophysics, where applicable.

Our primary goal is to identify underdeveloped reservoirs achieving substantial growth with efficient reservoir maintenance and innovative technology. Quest's expertise implemented with strategic partnering insures high returns on investment and substantial cash flow.

Corporate Profile

Quest's most valuable resource is our wealth of successful experience from a highly qualified team of seasoned professionals bringing over 100 years of experience with both Major and Independent companies to the exploitation, exploration and production of long-lived, high rate of return reserves.

By exhibiting our creativity and balancing a tolerance for risk along with a relentless pursuit of efficiency, we maintain a corporate culture that values originality and invention while developing essential, long-term relationships via honesty, trust and integrity.

Make sure you keep a keen eye on this company and add it to your radars now.  The oil and gas sectors are some of the hottest watches out there.  Our opinion is, after looking at the charts  recent volume News and price activity,  it's worth watching closely.

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