Quest Minerals Announces Intention to Diversify into the Energy Field.
SPONSOR ADS
Jul 28, 2005
SOUTH WILLIAMSON, Ky. -- QUEST MINERALS AND MINING (OTCBB: QMMG) announced today the Board of Directors approved efforts to seek to expand the Company's energy base into the oil and gas sector.
Quest management has over 30 years of energy related projects and has managed over \$60,000,000 of oil and gas exploration and production in Appalachia, Oklahoma, Colorado, North Dakota and Louisiana. Quest may also engage key industry experts to assist in the analysis and funding of these properties.
Quest management believes that a successful diversification into the oil and gas field will provide Quest with an opportunity to enhance revenue and earning potential for shareholders while hedging on coal production and prices.
One property under analysis by Quest is a 36,000 acre deep (10,000 feet) Devonian play in which Quest intends to seek a participating interest with additional rights of participation and a large concession with 12,000,000 BBL of oil sand. The company currently lacks sufficient capital to adequately pursue this expansion, and any such expansion by the company will depend on the company's ability to attract new investment capital to support the potential growth into these sectors.
Further information about Quest Minerals and Mining can be found on the Web at www.questminerals.com.
Safe Harbor Statement:
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates, "or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
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Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Quest Minerals and Mining "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Quest Minerals and Mining's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Quest Minerals and Mining, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Quest Minerals and Mining believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Quest Minerals and Mining does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
As a result of these and other factors, current results may not be indicative of Quest Minerals and Mining's future performance. For more information on Quest Minerals and Mining and for a more complete discussion of the risks pertaining to an investment in Quest Minerals and Mining, please refer to Quest Minerals and Mining's filing with the Securities and Exchange Commission.
