| Penny Stocks Alerts On Twitter Follow us on Twitter | | | | leases will require relatively modest capital |
| | | | expenditures to generate cash flow from production. |
| Quest Oil Corp. (PINK: QOIL.pk) | | | | |
| | | | Quest Oil's goal is to proactively minimize risk by |
| On Friday, August 06, 2010, Quest Oil announced that | | | | teaming with experienced exploration companies and |
| it successfully completed the acquisition of B&B | | | | project operators, and leverage their local experience |
| Oil, Inc. In an all share exchange transaction, Quest Oil | | | | and knowledge. Quest Oil seeks to strategically build |
| acquired all of the outstanding shares of B&B Oil, | | | | wealth from mature prospects with proven reserves. |
| a private, independent oil and gas exploration and | | | | Accordingly, QOIL.pkwe plan to maintain an |
| development company based in Fredericksberg, | | | | aggressive M&A growth strategy, which will |
| Texas. Quest Oil now holds a 100% equity interest in | | | | include the acquisition of small to mid-tier oil and gas |
| and title to B&B Oil's assets. | | | | exploration companies with significant growth |
| | | | | potential. Quest Oil believes that there is significant |
| In management's view, B&B Oil's assets in the | | | | opportunity in the acquisition of mature prospects in |
| Midkiff and Hawkeye Fields in Texas are economically | | | | mature oil fields that generate smaller output. The |
| attractive and geologically sound properties that have | | | | major oil companies and the large independents have |
| significant upside development and revenue potential. | | | | divested Quest Oil Corp. (PINK: QOILof these |
| From 2007 to the present, B&B Oil acquired oil | | | | assets in favour of larger potential oil and gas plays, |
| and gas leases that consist of approximately 560 | | | | even though these prospects possess significant |
| acres in Quest Oil Corp. (PINK: QOIL | | | | proven reserves. With the strength in oil prices, and |
| Hawkeye QOIL.pk | | | | with gas prices steadily improving, there will continue |
| Field and approximately 398 acres in the Midkiff Field | | | | to be ample opportunities for smaller independent |
| in Eastland County, Texas. These properties include | | | | companies such as Quest Oil to acquire and develop |
| wells that are currently productive, and numerous | | | | these mature petroleum leases and to build significant |
| prospects that management believe warrant further | | | | production volumes and revenues. |
| exploration and development. Productive wells on the | | | | |