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Oil Quest Resources (OILQ)

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Friday 22 April, 2005

Oil Quest Resources

Holding(s) in Company

Oil Quest Resources PLC
22 April 2005

                            OIL QUEST RESOURCES PLC

                                 (Ticker: OILQ)

                               HOLDING IN COMPANY

Oil Quest Resources plc (the 'Company') announces that it was notified on 21
April 2005, on behalf of FMR Corp., of 82 Devonshire Street, Boston MA 02109
('FMR') the parent company of Fidelity Management and Research Company and
Fidelity International Limited of PO Box HM 670, Hamilton HMCX, Bermuda ('FIL'),
that FMR and FIL and various direct and indirect subsidiaries, as non-beneficial
owners, are interested in 2,612,285 ordinary shares of 5p each, representing
5.89 per cent. of the issued share capital of the Company. The disclosable
interests include interests held on behalf of authorised unit trust schemes in
the UK, notwithstanding the exemption from reporting pursuant to section 209(1)
(h) of the Companies Act 1985.

The notice also states that the notifiable interests included in the notice also
comprise the notifiable interests of Mr Edward C Johnson 3d, a principal
shareholder in FMR and FIL.

Furthermore, the notice states that the notification of disclosable interests
constitutes separate notifications of interest in the Company's shares and have
been combined solely for the purposes of clarity and that the notice should not
be treated as indicating that FMR and FIL and their direct and indirect
subsidiaries or Mr Edward C Johnson 3d act as a group or in concert in respect
of the disclosed interests or that they are required to submit a notification on
a joint basis.

250,000 of the shares are registered in the name of Brown Bros Harriman Ltd Lux
and the remaining 2,362,285 shares are registered in the name of Mellon Bank

For further information:

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

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

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