The below is the extract from the Quest...

The below is the extract from the Quest website.
http://www.qpnl.com.au/index.php?option=com_content&task=view&id=6&Itemid=3


South East Lost Hills
Quest sold its interest in SELH on 23 July 2009 to Solimar Energy Ltd. As part of the sale Quest will receive 4,000,000 shares in Solimar Energy Ltd (ASX: SGY). Quest will accordingly continue to retain a financial interest in the development of these assets.

The Field

The Lost Hills Field located in Kern County, California is estimated to hold reserves equivalent to over 110 million barrels still in the ground ranking it the sixth largest field in California. Production at Lost Hills has been increasing steadily: as of the end of 2006, it was California's second-fastest growing oil field, exceeded only by the nearby Cymric Field. In 1998, one of the field's gas wells was the site of a spectacular blowout, producing a pillar of fire which burned for 14 days and was visible more than 64 km away.The Lost Hills field lies approximately 80 km northwest of Bakersfield in Kern County, California.


Topographically, the Lost Hills comprises a ridge of low hills which rise at most 30m above the surrounding Antelope Plain.The geologic structure of the Lost Hills Field consists of the Etchegoin Formation being sharply folded to form a north trending complexly faulted, asymmetric anticline. The Etchegoin sands are unconformably overlain by the Tulare Formation. This unconformity causes the underlying Etchegoin sands to thin to the west as you cross the axis of the anticline. This thinning forms a trap for the hydrocarbonfs within the Etchegoin sands below the unconformity. Extensional faulting along with stratigraphic variations in sand quality also form traps for hydrocarbonfs in these sands.

Project
The Southeast Lost Hills Project is located in the San Joaquin Basin, California, along the southern flank of the large Lost Hills Anticline. The Lost Hills structure is a large feature that has already produced in excess of 400 million barrels of oil equivalent (gMMboeh) to date to the north of the Jack Hamar 3]13 discovery which was brought into production on 5 December 2008. Unfortunately this well ceased production in May 2009.

Facilities have been completed which will enable upto 4 wells to be put on immediate production.

This structure is productive from shallow sand reservoirs in the Tulare and Etchegoing formations to the North. The Etchegoing formations are prospective for dry gas.The Southeast Lost Hills gas accumulation is a combination structural and stratigraphic trap. The reservoir targets are shallow Pliocene sands that pinch out around the flanks of the Lost Hills Anticline. Seismic amplitude anomalies are associated with the presence of these hydrocarbons. Since the Southeast Lost Hills project is a shallow play, with target depths of not greater than 5,000ft, it is expected that commercial development costs will be relatively low.

The Company recently completed a detailed seismic interpretation and is encouraged by the size and quality of the prospects delineated in the project area. The lavender fault is the key to getting structurally higher than the 3-13 well. The 3-13 is completed on the easterly, downthrown side. The first well will target the westerly, upthrown side to the west of the 3-13 completion interval.