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June 20, 2005 Stock Pick: Quest Oil Corporation (QOIL)

Stock Price: $0.38

Quest Oil Corporation explores, acquires, and develops oil and natural gas reserves throughout North America. The company targets high-quality, low-risk fields through utilizing key strategic alliance partnerships.

Quest Oil recently received $750,000 in funding for their Acadia Gas Project, a 1,280 acre Viking natural gas reservoir, on which the company expects to drill two wells. Drilling operations on the first of the two wells could start as early as today. After the first well is drilled, the company expects to immediately begin on the second.

QOIL went public less than a year ago and has never generated significant volume until a week ago. QOIL traded over half of its 20.4 million float on June 15th reaching $0.55. It continues to trade heavy volume and has shown signs that it will breakout strong to the upside on any good news. Right now, the company has a market cap of only $7.8 million.

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