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Oil Quest Resources (OILQ)

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Wednesday 20 July, 2005

Oil Quest Resources

Accounting Reference Date

Oil Quest Resources PLC
20 July 2005

                         OIL QUEST RESOURCES PLC


The Board of Oil Quest Resources plc ('the Company'), the AIM quoted oil and gas
exploration company, announces today that the Company is changing its accounting
reference date from 31 March to 30 June.  As a result, the Company will report
results for the fifteen month period ended 30 June 2005.

Following the Company's change of name from Hereward Ventures plc to Oil Quest
Resources plc in April 2005, the Board is of the opinion that the extension of
the current accounting period will enable the accounts to reflect better the
ongoing business of the Company, which is now focused on oil and gas exploration
and development in the UK.

The change of the year end will not impact the previous accounting timetable and
so the accounts for the fifteen month period ended 30 June 2005 will be issued
by 30 September 2005.

For further information:

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

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

Notes to Editors:

Oil Quest Resources plc is quoted on AIM.  The Company's focus is to acquire
interests in UK onshore exploration licences, with high upside potential in
proven hydrocarbon producing basins.

The main acquisition criteria are that drill-ready prospects are present on the
licence area.  This enables shorter lead times for drilling activity.  The
Board's objective is to add value by discovery and development.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                            

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