My D&D shows that they were looking to take over more wells in Texas. Again this would most likely mean additional issuance of stock, which would yield to a sell off by those geting the stock, which would in turn bring the stock down even more. If that deal doesn't go through, I would like to see Qoil buy back stock to protect its shareholders (Just like Arture Daniels Midland Company is doing richt now. Last month stock was at $26 and is now at $32+).

Thats because when UPDV took over, they issued stock left and right. Before UPDV there was only about 230,000,000 shares O/S. Now there is close to/or mare than 2 billion shares O/S. I think UPDV was paying its bills by issuing stock, those vendors wanted money, so they sold the stock, which drove the price down. This caused UPDV to issue more stock to pay its bills and so on.

With all the stock out there issued, I would like to see Qoil do a buy back of the shares, this would show that they are also protecting their stock holders as well.

When Quest Purchased B&B, it was a stock transaction only. This caused the stock to go down from .01 to what it is now (becuase people who were in B&B, didn't want stock in Quest so they put it up for sale. I wouldn't be suprised that Qoil paid a premium for B&B). This new negociation so far doesn't tell us how Quest will pay for this. If they do the same thing again, the stock will go down much more. It's best to wait on the side lines for now and see what going to happen.

Remember the old saying.

"Fool me once, shame on you, fool me twice, sham on me"!

Is it possible that after Qoil purchased B&B in an all stock exchange. People of B&B are selling their stock and getting what they can for it. I looked up B&B just before the purchase and it was selling at .006. If it was a stock for stock exchange or more (like 1.5 or 2 for 1) I can see the dumping going on now. In the future this would make Qoil a stronger company. Lets get rid of all the rift raft.

Ever since Qoil purchased B&B, Qoil has gone steadly down. Did Qoil overpay for B&B? Whos's incharge of Qoil now? How about some news from those who are in charge to the stocj holders. WHAT"S UP?

Yea: I sold my HTOG stock, But I was still left holding the bag on 550,000 shares of UPDV, which as of now, I still don't know if it's the parent of HTOG, as it was since they came into play, or as a subsidiary since 04/14/10 when SEC pulled their registration and all of a sudden UPDV is shown as a sub on HTOG web site back in June of 2010 (Which I not longer find). So I still have interest in it, one way or another. As for you, stop talking like you know what your saying and prove to us that what your saying is true. Or are you another person looking to drum up sales so that you can sell high and leave everyone else holding the bag?

I hope all you stock holders see that this guy does alot of talking but doesn't say anything. Prove to us that HTOG is RM candidate and not a chapter 7 candidate!

I hope all you stock holders see that this guy does alot of talking but doesn't say anything. Prove to us that HTOG is RM candidate and not a chapter 7 candidate!

Reread the article. It was a court order after a filing of Bankruptcy. I didn't understand how Imperial oil got involved as auctioneer. From what I read and reading between the lines, Imperial Oil will pay 4.95 Million for the land. Who gets the money (After Legal Fees etc, S/B Heartland). Since they are in Bankruptcy, who knows how much is owed. It could be another racket, where officers were on payroll for huge amount of money, never received their paycheck, because if they were filing 10Q we would know how much salary they were getting and made a stink about it. By Federal Bankruptcy Laws what ever is left after legal fees and taxes, employees get unpaid payroll first before any other creditor and stock holders.

Then again even though Heartland Properties went bankrupt, it doesn't mean that they are related to Heartland Oil and Gas.

Seeing that HTOG didn't 10Q and SEC is investigating them, then I fear SEC will also pull their registration and will no longer be trading, thereby making the stock worthless (Just like their parent UPDV). That is why I'm selling and taking a loss.

I'm considering buying Quest oil and Gas with what ever I get.

Well I decided to sell and take about $5,000.00 lost. Why did I sell, On 09/13/10 Kentucky Corts Ordered the sale of the Eastern Properties of Heartland Properties by Imperial Oil. I believe Hearland Properties was a sub of Heartland Oil and Gas (Not Sure), but names is too close for it not to be. With no news coming from HTOG and UPDV is no longer selling and since HTOG has not filed its 10Q form for over 2 years (LIKE UPDV), it is only a matter of time before HTOG registration will also be pulled by SEC (Which will make HTOG stock worthless like UPDV).

See below artical which lead me to sell. Article is "FROM THE STREET".

Imperial Petroleum, Inc. (OTCBB: IPMN) announced that it has signed a purchase and sales agreement to purchase the Heartland Properties in eastern Kentucky. Imperial will be the Stalking Horse Bidder in the sale to be conducted by the Receiver for the Heartland Entities and Partnerships under court order. The project covers some 5,000 acres in the Devonian shale gas play with production from 25 wells of approximately 400 mcfpd and several miles of gathering system. The remainder of the wells are cased and perforated but have not been fracture stimulated. Under the terms of the acquisition agreement, if consummated, Imperial will pay approximately $4.95 million for the assets including $0.45 million in cash with the balance in other consideration. The sale is subject to approval by each of the United States Bankruptcy Court and by the United States District Court for the Western District of Kentucky and subject to the sales procedures posted in connection with the planned sale.

GOOD LUCK TO EVERYBOBY ELSE!

Dosen't make sense that they are buying back shares. That only give Salmon and his group more voting power. Salmon are you still with us?

I don't know much about market so can you please explain in layman term what you ment by your statement.

None that I know of. I hope not, because I don't believe MGT has filed any 10Q on HTOG as well for at least 3 years.

Last I know, There was plenty of Natural gas supply in the kansas field (but this was 3 years ago and MGT hasn't posted anything since then). As for oil UPDV took over an oil company about 4-5 years ago and merged it into HTOG. I believe the oil field was either in Texas or Louisiana. Again MGT has not released any news, so I have no idea whats has happened to these properties.

I spoke to SEC back in late April. UPDV registration was pulled by SEC for not filing the 10Q for over 2 years. But was told that it iS STILL TRADING ON PINK SHEET. Shortly there after, the HTOG web site shows UPDV as a sub of HTOG (I have no idea how this happened, unless MGT traded their UPDV stock for HTOG stock - which I believe would be an illigal move as they didn't tell anyone and that it only applied to themselves).

What ever happened to "SECInformant" who was putting together a law suit?

Called bruce, left message, no reply (as allways).

Salmon you said about 1 month ago, you'll be meeting with attornies about some sort of approach formula, concerning HTOG and let us know within a week.

So my question is there really something being done by your group or are you acting for Kamal and giving us false info.

Q didn't acquire B&B for cash. It was a merger in form of stock for stock. The question is, who's in charge now and what are their plans?

I'll try giving him a call again. Lets see what more lies he;ll tell me. This time I will also ask about the 10Q and 10 K filings, why they are none for past few years?

Hey Alaskanwarrior: The article is a little over 2 years old.

Also Alaskan: I need to relate to you some things that have nothing to do with HTOG. Please email me at RSeg1@Aol.Com.

You can't just call him up. You have to file a complaint on line (Go to SEC and look for "Investors on Line Complain"). Tell them that you want to speak to some one (or try asking for Bob Green) about UPDV and what recourse does investors have. Leave your phone number and someone will get back to you within 24 hours.

Thats how I did it.

What we need is a lawyer who is willing to take case probono.
Does anyone know of such a lawyer.

Scottrade chgs $7.00 and there is another that charges even lower, I think $4.00.

Count me in with all of my votes. I also own stock in UPDV (550,000 Shares), If I can, I'll votes those stock votes as well.

Do you know how to get touch with Salmon?

Hey Salmon; You stated that your group was buying up controlling interest, if you didn't, I am willing to pledge my voting right to your group. I'm sure other s will as well, just to get rid of Kamal and his pals.

Spoke to Bob Green of SEC this morning. He stated that UPDV can still trade on the pink sheets. He also stated that they are looking into HTOG, also for non filing since 2008. However it is up to us stock holders to take law suit out against Kamal and MGT to get HTOG away from them. In mean time SEC will continue to investigate HTOG and will most likely also pull the registration for non filing. It looks like were on our own, does anyone know an attorney?

Spoke to Bob Green of SEC this morning. He stated that UPDV can still trade on the pink sheets. He also stated that they are looking into HTOG, also for non filing since 2008. However it is up to us stock holders to take law suit out against Kamal and MGT to get HTOG away from them. In mean time SEC will continue to investigate HTOG and will most likely also pull the registration for non filing. It looks like were on our own, does anyone know an attorney?

I'll give a dollars to get some answers. Please post those webs sites!

I Sent SEC email asking what happens to us UPDV Stock holders (I also owned 550,000 shares. They haven't responded to me. I will send email again and keep sending until I hear from them. I remind them, that they were set up to protect people like us. Please send email to SEC also.

I too am unemployed and facing moniey problems as well.

Do you have the web site for EDGAR?

You maybe right:

I just found a second article about QOIL new Board and their acquasion of B&B Oil. It's and exchange of stock.

So following questions comes to mind:

1)Is new board related to B&B oil?
2) If they are related, was there an over issuance of stock to acquire B&B Oil?
3) What are new board plans for QOIL?
4) Are they going to keep issuing stock?
5) Who are the new members of the Board?
6) What happen to the old members?

See below for second article I found:

press release
June 30, 2010, 11:56 a.m. EDT · Recommend · Post:

Quest Oil Signs LOI to Acquire 100% of B&B Oil's Producing Oil and Gas Wells, Texas Leases
Quest Oil Appoints New Board of Directors

KERRVILLE, Texas, Jun 30, 2010 (BUSINESS WIRE) -- Quest Oil, Inc. (Pink Sheets: QOIL) is pleased to announced that it has signed a Letter of Intent (LOI) to acquire 100% of the assets of B&B Oil, Inc., a private, independent oil and gas exploration and development company based in Fredericksburg, Texas. Following an exchange of shares, the details of which will be announced on the date of the closing of the transaction, Quest Oil will acquire 100% of B&B Oil's producing wells and leases, all of which lie within proven oil and gas plays in Texas.

Incorporated in the State of Texas in June 2004, B&B Oil Inc. is primarily focused on the exploration and development of proven oil and gas projects. From 2007 to the present, B&B Oil has acquired existing oil and gas properties in Texas that consist of leases in Hawkeye Field and the Midkiff Field in Eastland County. These properties include wells that are currently productive, as well as additional leases that warrant further development. At present, B&B Oil's producing wells require relatively modest capital expenditures to generate cash flow from oil production.

Quest Oil announces the resignation of Mr. Marvin Gibbons, Director and CEO, and the resignation of Mr. Leonard Manson, Director and CFO, effective immediately. Quest Oil also wishes to announce the appointment of a new slate of Directors and a new senior management team. Accordingly, Quest Oil is pleased to announce the appointment of Mr. Joseph F. Wallen to the position of CEO and to the Board of Directors; the appointment Mr. Frank Grabs, to the position of Vice President of Operations and to the Board of Directors; and the appointment of Robert J. Clark to the Board of Directors. Together, the new Board of Directors and Management Team bring to the Company a combined 60 years of experience in the oil and gas industry.

Joseph Wallen, Quest Oil's new CEO, remarked, "Quest Oil thanks Mr. Gibbons and Mr. Manson for their contribution to the Board and to the development of the Company." Regarding the LOI with B&B Oil, Mr. Wallen, added, "I believe the acquisition of B&B Oil's assets will play a key role in Quest Oil's strategy to generate new sources of revenue and, looking forward, will help to create shareholder wealth. Following the successful acquisition of B&B Oil's assets, Quest Oil plans to implement a development strategy that will maximize oil production via the stimulation of existing wells and through the introduction of state of the art technologies in the exploration phase."

About Quest Oil, Inc.

Quest Oil, Inc. 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. 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.

SOURCE: Quest Oil, Inc.


Quest Oil, Inc.
Mr. Joe Wallen, 830-257-0777
President and CEO
info@questoil.com




Copyright Business Wire 2010

From todays business week:

Quest Oil Signs LOI to Acquire 100% of B&B Oil’s Producing Oil and Gas Wells, Texas Leases
Business Wire - 06/30/2010 11:56 AM ET
Quest Oil Appoints New Board of Directors. Quest Oil, Inc. is pleased to announced that it has signed a Letter of Intent to acquire 100% of the assets of B&B Oil, Inc., a private, independent oil and gas exploration and development company based in Fredericksburg, Texas.

BUSINESSWEEK

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Where did you get your info? How do you know whats going on?

I hope it's true. But what about the prior years not reported?

Greg: I agree. Lets let the lawsuit go through, maybe they can take over operations of PPTL and get things rolling.

Drax:

When I spoke to Nevada Commission, they told me that UPDV can be reformed and has either to take back old stock holders or not. It's up to them. However if they do reform and do not take back old stock holders, then as see it, old stock holders has right to all of the old UPDV assests.

Alaskanwarrior: I just saw that you work overseas, in Mideast and former USSR. I may have a seperate business deal for you, if your interested. Please send me a private email to RSeg1@Aol.Com
I'll tell you what I have in mind.

P.S. This is very big and we can get in on the ground floor.

Keith: I feel for you, however, I have been with HTOG since it was at .03 per share and I have more shares then you. HTOG was going good until UPDV came in. Then, I believe they manipulated the stock. At time I got in, there was only 200 M shares O/S. When UPDV came in, they sold more and more stock, for who knows what? However UPDV also had a sub. called Catlin Oil (An operating small oil producing concern which it had also taken over somehow) and merged it into HTOG. So besides the land in Kansas HTOG has, HTOG should also have the oil from Catlin Oil. However with lack of filing 10Q for past couple of years, and lack of info given out, I have no idea if HTOG still owns the land or oil field from Catlin Oil.