Amazon has an unrisked potential recoverable resource of between...

Amazon has an unrisked potential recoverable resource of between 301 to 736 billion cubic feet (Bcf) of natural gas and 30 to 73 million barrels of oil (mmbbl)

Marian Baker #1, Amazon initial well, spudded 16 January and has successfully set its first casing string..

As outlined below and detailed in the Company presentation on Amazon of 2 December 2010, success in the mean recoverable resource case of 375 Bcf and 37 Mmbbl represents $201m in potential value,,,creation (NPV) for Quest?s 15% share,,,,VALUE IS 18c PER SHARE..

And in the P10 case of 736 Bcf and 73 Mmbbl representing $380m in potential value creation (NPV) for Quest?s 15% share,,, VALUE IS 35c PER SHARE..

Quest has a fully diluted share capital of 1.6b, assuming exercise of all 578m QPNO.

NOTE: Potential valuations per share are based on Quest?s 15% working interest in Amazon and assumes an oil price (NPV) of US$25.00/BBL, a gas price (NPV) of US$1.00/MCF, a condensate yield of 10.1 bbls/Mcf , shares outstanding of 1.075b and options of 578m (which are deemed to be converted), and US$‐A$ exchange rate of 0.96.