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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Quest Oil Corporation (PK) | USOTC:QOIL | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00001 | 0.00001 | 0.0001 | 0.00 | 12:38:03 |
Quest Oil, Corp. (Pink Sheets: QOIL) is pleased to announce that it plans to begin a work-over program on 50 jump jack oil wells located within the Hawkeye and Midkiff fields. The objective of the work-over program is to sharply increase current well output via a variety of remedial treatments, stimulation methods and technologies. Utilizing best practices the expectations are to stimulate these wells to improving production from 100 to 300 BOPD.
Joe Wallen, CEO of Quest Oil, commented, "We are excited about the implementation of our revitalization program. By replacing rods, pumps and chemical acid treatment of the perforations will dramatically increase oil production. We are confident that we can increase production from a majority of the wells that will be subject to our work-over program."
At present our production is nominal at 15 – 25 BOPD, by implementing our first phase of the work program with completion over the next 30 – 45 days, the Company will realize the start of a cashflow positive operation.
About Quest Oil, Corp.
Quest Oil, Corp. is an independent oil and gas exploration company that seeks to acquire and develop economically attractive and geologically sound properties that have, in management’s view, significant upside potential. Quest Oil is focused on the acquisition of properties that are currently in production, and on the development of new drilling opportunities. Quest Oil’s development strategy includes the implementation of state-of-the-art technologies that are deployed to enhance and rework existing, highly predictable wells, within proven oil and gas plays. For more information, please visit www.questoil.com.
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC and consult a registered broker dealer or contact the financial industry regulatory authority (“FINRA”) for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission.
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