CALGARY, ALBERTA, Jul 7, 2005 (CCNMatthews via COMTEX) -- On behalf of SMSMobility, Inc. (the "Company") (PINK SHEETS:SMSO) President Rod Burns, is pleased to report that the Company has executed a Memorandum of Understanding ("MOU") with Quest Oil Corporation (OTCBB:QOIL) for a joint venture on two of its development programs in Texas. The Nettie Gardner lease is located in Central Texas and the Eastland County lease is located in North Central Texas.
The Nettie Gardner lease is comprised of 116 acres, which forms the southernmost extension of the EXOC Field discovered in 1976 by the Bishop-Biemer-1 well. Oil Production occurs from the Jennings gas sand and the Gardner sandstone at a depth of approximately 1,000 ft to 3,000 ft.
Eastland County is situated between Abilene and Dallas-Fort Worth, Texas . Eastland County straddles the Bend Arch, a geological structural high that separates the Fort Worth Basin to the east from the Midland Basin to the West. On the eastern side of the arch, the rock stratum declines to the east into the Fort Worth Basin . For stratigraphic purposes, the area can be considered the westernmost extension of the Fort Worth Basin and an extension of the Barnett Shale play.
Mr. Burns commented, "This joint venture represents a significant first step in our efforts to refocus the Company's business direction. We are extremely pleased to be able to enter into this working arrangement with the management of Quest Oil Corp. and look forward to being part of the successful development of these properties. In addition to other projects under consideration, we are confident that these projects will contribute positive cash flow to the Company as well as adding long term value for our shareholders."
Quest Director, Mr. Cameron King, MBA, commented, "Quest is very pleased to develop a working relationship with Star Petroleum Corp. (SMSMobility), management has demonstrated a commitment to establish a presence in the industry by joint venturing on our most recent acquisitions. Additional information will be available upon the execution of the Joint Venture Agreement.
About Quest Oil Corporation
The Company is committed to the exploration and development of economical oil and natural gas reserves globally. Quest management is focused on an acquisition program targeting high quality and low risk prospects. Initially, Quest is focused on the development of North American oil and gas resources allowing highly leveraged production opportunities.
About SMSmobility / Star Petroleum Corp.
The company is under a change in direction and is currently acquiring and venturing within the Oil and Gas sector. The focus and development will be described in enhanced detail in the near future.
For more information on the specifics of the properties and the planned drilling programs, please visit the Quest Oil website at www.questoil.com .
ON BEHALF OF THE BOARD
Quest Oil Corporation. "Cameron King" Cameron King MBA - Director
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SMSMobility, Inc. Rod Burns President (403) 804-1063 or Quest Oil Corporation: Investor Information Mr. Darren Hayes, Corporate Development 1-866- 264-7668 Website: www.questoil.comThis report is for informational purposes only, and is neither a solicitation to buy nor an offer to sell securities. Investment in low-priced small and micro-cap stocks are considered extremely speculative and may result in the loss of some or all of any investment made in these companies. eStockQuest is not a registered investment advisor or a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. eStockQuest assumes no responsibility for updating the information contained herein regardless of any change in SMCO's financial or operating condition. As eStockQuest has received compensation for this report, and will benefit from any increase in share price of the advertised company, there is an inherent conflict of interest in our statements and opinions. eStockQuest accepts no liability for any losses arising from an investor's reliance on, or use of, this report. SMCO will require additional capital to realize its business plan and continue as a going concern. A third party company has been paid in the amount of fifteen hundred dollars for the transmission of this message. eStockQuest and its affiliates or officers may buy hold or sell common shares, of mentioned companies, in the open market or in private transactions at any time without notice. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein.