Quest Oil Corp. (QOIL)

[paladin8]

June 21: Needy, I believe it's profit taking

Within 1 week, QOIL prices has risen from $0.148 closed on Mon. June 14 to $0.560 closed on Mon. June 20, this is a 278% INCREASE in Value. I believe some investors are selling to take the profit.

From the company perspective, nothing has changed, awaiting the drilling rig to be on-site of the Acadia North Project in Alberta, Canada between June 23rd and June 28th to drill the 1st well North 15-22-25-26 W4M which would take about 4 days, and to be followed by the drilling of 2nd well South 10-34-25-26 W4M for the same amount of time.

The chance for both wells to strike the gas bearing reservoirs are very high, since these are delineation, or infill drilling. It means drilling into the gas reservoirs that have previously been produced.

This is different from the "wildcat" exploration drilling where the drilling is to find the geological structures that geologists and geophysicists have predicted. The "wildcat" exploratory drilling is very high risk, alot of time ended up in getting a 'dry' hole, without oil and/or gas bearing zones.

Best wishes to all of you!