QUEST OIL CORP

QUEST OIL CORP

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Company Overview
The company is an independent exploration-stage company engaged in the exploration, acquisition and development of oil and natural gas properties. It is a publicly quoted company that is listed on the OTC Market under the ticker symbol QOIL. The company was incorporated in 1999 under the name, Luna Technologies Inc. The registered head office of the company is located in Carlsbad, California.
The company’s operations are focused in the United States and Canada. The company holds interests in the Acadia North and Empress properties in Alberta, Canada. It also holds interests in Hawkeye, Nettie Gardner, and Midkiff lease properties in Eastland and McCulloch counties of central Texas.
Business Summary
Quest Oil Corporation is an independent oil and gas company with a primary focus on acquiring, developing and participating in the United States and Canadian crude oil and natural gas properties. The Company utilizes oil and gas pipelines and/or trucking services to distribute its products. Its target oil and gas plays consist of approximately 20,000 acres in three gas regions of Southern Alberta, Warner, South Taber and Diamond. As of March 31, 2010, the Company, through its wholly owned subsidiary, Independence Energy Corporation, maintains the option to drilling rights in sections of land in the Alberta region. As of March 31, 2010, the Company was focused on the acquisition of oil and gas exploration companies. Independence Energy Corporation holds three properties Warner, Taber and Diamond in Southern Alberta. In August 2010, Quest Oil Corporation announced that it had completed the acquisition of B&B Oil, Inc., an oil and gas exploration and development company.
Description and history
Quest Oil Corporation, incorporated on January 19, 1999, is an independent oil and gas company with a primary focus on acquiring, developing and participating in the United States and Canadian crude oil and natural gas properties. The Company utilizes oil and gas pipelines and/or trucking services to distribute its products. Its target oil and gas plays consist of approximately 20,000 acres in three gas regions of Southern Alberta, Warner, South Taber and Diamond. As of March 31, 2010, the Company, through its wholly owned subsidiary, Independence Energy Corporation, maintains the option to drilling rights in sections of land in the Alberta region. As of March 31, 2010, the Company was focused on the acquisition of oil and gas exploration companies. Independence Energy Corporation holds three properties Warner, Taber and Diamond in Southern Alberta. In August 2010, Quest Oil Corporation announced that it had completed the acquisition of B&B Oil, Inc., an oil and gas exploration and development company.

The Company has a 40% working interest in 16.5 sections and 100% one section in the Warner area, and this area offers production from the Barons, Medicine Hat, Bow Island and Belly River formations. In the South Taber area the Company has a 50% working interest in 640 acres of land (one section). As of March 31, 2010, there was one gas well on the property, which contributed 10 barrels of oil equivalent per day. In the Diamond area the Company has a 50%-operated working interest in 1920 acres of land (three sections). The Company has a joint venture participation agreement for a 4.5% interest in the Odum-Martin Ranch No. 1 horizontal well. The well is in the Newark East Field (Barnett Shale) in Southeast Parker County close to the Hood County border. Independence Energy Corporation’s natural gas production comes from three producing wells on the Warner property, consisting of 20 sections of land net 40% ownership interest and one producing well on the Taber property consisting of one section of land net 50% ownership position. Independence Energy Corporation has made a total of 5,504 net acres land available for development and exploration.

Incorporated under the name, Luna Technologies Inc

Business Line
Independent exploration-stage company engaged in the exploration, acquisition and development of oil and natural gas properties
Subsidiary

Advisor
MALONE & BAILEY, PLLC
IPO date
9/23/2004
US SIC Code
1311
Company Address
Suite 110
2038, Corte Del Nogal
City province or state postal code
92011, CARLSBAD, CA
Phone: +1 760 804 8844
Fax:
Country address: UNITED STATES OF AMERICA
Website url: