I note a majority of companies have now released their quarterly...

I note a majority of companies have now released their quarterly reports?

I wonder what QPN management will advise and provide for investors???

I hope the word drilling is too begin is i the sentence or paragraph???

Most are wanting positive news,positive cashflow statement,strategy update,drilling to start abcxxx, stakeholders abc,

Etc....

I know a number of people have tried to contact management for updates???
On behalf of the Board of Directors

For further information contact:
Anthony Milewski
Managing Director
Phone: +61 8 9380 9920
Fax: +61 8 9381 5064
Email: [email protected]

reference last quarter March

ORPORATE
? International Petroleum Executive appointed to Board
? Quest continues to review projects/proposals in line with expanded
production strategy
? Cash and Equivalents at 31 March 2013 $5.0m


Share Price: $0.005
Shares: 2,876,199,469
Market Cap: $14.38m


Directors
Mr. Gus Simpson – Chairman
Mr. Mochamad Thamrin -


Land Purchase MOU Signed for Prabu-1 Drill Site

During the March quarter Quest Petroleum NL (Quest or the Company) concluded
negotiations and signed a Memorandum of Understanding (MOU) with the land
owner of the Prabu-1 drill site, the proposed site for the first well to be drilled at the
Company’s Ranau PSC in South Sumatra, Indonesia (refer Figure 1).

The MOU was executed with the owners of land situated at Way Kanan, which is in
the south east portion of the Ranau PSC, approximately 140 kilometres north-west
of the South Sumatran capital, Lampung.

In parallel to the land negotiation process, which successfully concluded with the
signing of the MOU, the Company engaged in legal due diligence to confirm tenure
of the site and expects to conclude this process imminently, which will facilitate a
final land purchase agreement being signed.

The proposed Prabu -1 drill site (formerly Kayumanis-1), is situated on well drained,
elevated land adjacent to a paved asphalt road which allows good access to for
drilling and completion operations. The drill site is situated on the edge of an
identified structural high proximate to three significant sub-basins with clear
potential for hydrocarbon generation.


Expanded Production Strategy and Strategic Partnership

The Company continues to receive and review proposals to participate in projects that could compliment the
Company’s ambition to become a significant hydrocarbon producer. This has necessitated the generation of an
expanded business plan, project acquisition, funding strategy, the strategic partnership with Moyes & Co and their
assistance to facilitate funding at the asset level. This will minimize dilution in the corporate entity and will allow the
Company to participate in some of the multiple projects on offer.

Moyes & Co is an oil and gas focused advisory firm with a strong international reputation. The Moyes team will utilize
its deep technical skills to provide a range of services including evaluation, independent third party assessment of
selected assets, technical and legal due diligence on acquisitions and assist in acquisition and production funding at
the asset level.

Corporate

Appointment of International Petroleum Executive to Board

On 22 March 2013 Quest announced the appointment of Mr Jeffrey Mitchell to the Board as a Non-Executive
Director. Mr. Mitchell is a highly experienced petroleum executive who has worked within the international oil and
gas industry for a career spanning more than 35 years. In addition to his executive and board experience Mr. Mitchell
has an exceptional success record in acreage evaluation, acquisition, block management, exploration and drilling
operations leading to petroleum discoveries.

Mr. Mitchell most recently worked for Vanco Energy Company (now PanAtlantic Exploration Company) from 2003 to
2013 where he was both Chief Operating Officer and a Director, overseeing their various operations in West Africa,
Ukraine and South America. This role included the evaluation and acquisition of numerous offshore licenses.

Prior to joining Vanco, Mr. Mitchell was General Manager International for Denver-based Barrett Resources
Corporation where he led the international exploration and production team in the successful identification and
acquisition of several licenses in Peru, resulting in the discovery of significant recoverable oil reserves.

From 1991 to 1995 Mr. Mitchell held senior executive positions at BHP Petroleum which included General Manager of
New Ventures for the Asia Pacific division. In that role he managed the acquisition and operation of new venture
projects throughout Asia, including Malaysia, Indonesia, China and Vietnam. This included successful drilling
programs and significant discoveries in Malaysia and Papua New Guinea. Mr. Mitchell was subsequently appointed
General Manager of BHP’s Australia division where he was responsible for leading the Exploration Department in
operating BHP’s properties in Australia, overseeing successful drilling programs and multiple discoveries.

Mr. Mitchell began his career as a geologist for Phillips Petroleum Company, with several international assignments,
including Colombia, Iran, Indonesia and London, and management appointments including Europe Exploration
Manager and Vice President Europe-Africa-Middle East Exploration. . Throughout his career, he has worked in
operations throughout Africa, the Middle East, Asia, Australia, Europe, North and South America. Mr. Mitchell has an
MS in Geology from Emory University in the United States.



Managing Director
Mr. Jeff Mitchell – Non-
Executive Director
Mr. Brett Mitchell – Non-
Executive Director
Mr. Greg Lee – Non-Executive
Director

Good luck Investors