Oil Quest Resources

Holding(s) in Company

Oil Quest Resources PLC
19 April 2005

                            OIL QUEST RESOURCES PLC

                                 (Ticker: OILQ)

                              HOLDINGS IN COMPANY

Oil Quest Resources plc (the 'Company') announces that it was notified on 15
April 2005 of the following reportable interests in the shares of the Company.

 1. Gartmore Investment Limited notified the Company that, following the purchase
    of 1,138,995 ordinary shares of 5p each in the Company on 11 April 2005,
    Vidacos Nominees Ltd A/C 1945 is now the registered holder of 1,503,995
    ordinary shares, representing 3.39 per cent. of the issued share capital.
    The beneficial owner of the shares is AlphaGen Volantis Fund - Prime
    Brokerage and the fund manager is Gartmore Investment Limited.

 2. Merrill Lynch Investment Managers Limited has notified the Company that
    Merrill Lynch British Smaller Companies Trust plc has an interest in
    1,513,513 ordinary shares of 5p each, representing 3.41 per cent. of the
    issued share capital.

For further information:

David Bramhill                                       Dominic Barretto
Oil Quest Resources plc
+44 (0) 117 957 3666                                 Bishopsgate Communications Ltd
[email protected]
                                                     +44 (0) 20 7430 1600
                                                     [email protected]

Tim Feather / Bill Staple
Westhouse Securities LLP
+44 (0)20 7601 6101
[email protected]

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