NEW YORK, NY, Nov 29 2012 (Marketwire) -- Quest Oil Corp. (PINKSHEETS: QOIL) an independent oil production and technology company announced today that it signed a contract to purchase land usage rights for 10 years for the exploration of oil production. This land is located in the Orinoco River in Eastern Venezuela.
It is estimated that the Orinoco region could produce up 1 million bbl. oil daily by the year 2020, a figure equal to half of Venezuela's current oil production.