Replies to post #173 on Quest Oil Corp. (QOIL)

[markrhead]

I would wait as there have been torential rains in Alberta and only 37% of rigs available are drilling. Muddy and boggy, so many CN companies will not be replacing production as expected, therfore may correct some next Q. Just my opinion, but I was shocked at an article about drilling postponements due to all the rain and that many rigs are sitting idle. I am not saying QOIL's rig is one of them but maybe check and see if it can get in to site.

I take a free O&G&Mineral daily newsletter "David Pescods Late edition" that follows many Jr Canadian companies and is very informative. Deb's Dittys at the end are worth it alone. Rain delays in Alberta was in this afternoons edition. You can subscribe for free by sending an email to

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[paladin8]

June 22: Needy, a rough calculation - - -

If QOIL is successful in hitting gas in Alberta with its 2 wells, how much would each share worth? - - - Based on the figures provided by QOIL from the following press release, that the natural gas would worth about $30 million. Take it and divide by 20 million Floating shares that are freely traded, each share would worth about $1.50 per share.

http://biz.yahoo.com/pz/050525/78857.html

In the worse case, if both wells are dry(I am very doubtful this will happen), QOIL still has other oil and gas properties to substain the current around $0.50 per share.

I am very fortune to get my QOIL shares on June 09, 2005 at $0.10 per share (a 495% increase in value from June 21 close at $0.595). I am hanging on to my shares until the 2 wells have been drilled. If they both strike gas, I expect the share prices will be up in the $1 to $2 range (52 week high of $2).

I work in the oil industry. I am a mechanical engineer by profession from Calgary, Canada. Currently, I am working as a consultant for an oil company in Africa. I started my professional career with Esso/Exxon Canada.

You have to decide for youself whether to buy QOIL or not, based on your own investment strategies and criteria.

Best wishes to all of you!

[kevint]

Now would be a good time - anything under $1.00 -
As soon as they announce the drill next week we could see a very decent run.