Quest Seeks New Auditing Firm
01 Octubre 2008 - 10:00PM
Marketwired
The boards of directors of Quest Resource Corporation (NASDAQ:
QRCP), Quest Energy Partners, L.P. (NASDAQ: QELP) and Quest
Midstream Partners, L.P. have announced the resignation of their
auditing firm Eide Bailly LLP.
Jack Collins, Quest CFO, reaffirmed that Eide Bailly's
resignation is not the result of any disagreement between Quest and
Eide Bailly LLP on any matter of accounting principles or
practices, financial statement disclosure, or scope or procedure,
which disagreements, if not resolved to Eide Bailly LLP's
satisfaction, would have caused it to make reference to the subject
matter of the disagreements in connection with its report, and
there were no reportable events as specified in Item 304(a)(1)(v)
of Regulation S-K.
Eide Bailly's resignation as the Company's independent
registered public accounting firm, is effective upon the earlier of
the date of the filing of the Company's Form 10-Q for the period
ended September 30, 2008, or November 10, 2008.
Quest has initiated a national search and plans to have an
accounting firm engaged before Eide Bailly has completed their
assignments.
About Quest Resource Corp., Quest Energy Partners, L.P., and
Quest Midstream Partners, L.P.
Quest Resource Corporation is a fully integrated E&P company
that owns: the right to develop approximately 130,000 net acres in
the Appalachian Basin of the northeastern United States, including
122,600 acres prospective for the Marcellus Shale; 100% of the
general partner and a 57% limited partner interest in Quest Energy
Partners, L.P.; and 85% of the general partner and a 36% limited
partner interest in Quest Midstream Partners, L.P. Quest Resource
operates and controls Quest Energy Partners and Quest Midstream
Partners through its ownership of their general partners. For more
information, visit the Quest Resource website at www.qrcp.net.
Quest Energy Partners, L.P. was formed by Quest Resource
Corporation to acquire, exploit and develop natural gas and oil
properties and to acquire, own, and operate related assets. The
partnership owns more than 2,300 wells and is the largest producer
of natural gas in the Cherokee Basin, which is located in southeast
Kansas and northeast Oklahoma and holds a drilling inventory of
nearly 2,100 locations in the Basin. The partnership also owns
natural gas and oil producing wells in the Appalachian Basin of the
northeastern United States and in Seminole County, Oklahoma. For
more information, visit the Quest Energy Partners website at
www.qelp.net.
Quest Midstream Partners, L.P. was formed by Quest Resource
Corporation to acquire and develop transmission and gathering
assets in the midstream natural gas and oil industry. The
partnership owns more than 2,000 miles of natural gas gathering
pipelines and over 1,100 miles of interstate natural gas
transmission pipelines in Oklahoma, Kansas, and Missouri. For more
information, visit the Quest Midstream Partners website at
www.qmlp.net.
Forward-Looking Statements
Opinions, forecasts, projections or statements other than
statements of historical fact, are forward-looking statements that
involve risks and uncertainties. Forward-looking statements in this
announcement are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Although Quest
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. In particular, the forward
looking statements made in this release are based upon a number of
financial and operating assumptions that are subject to a number of
risks, including the results of Quest's previously disclosed
ongoing internal investigation, uncertainty involved in exploring
for and developing new natural gas reserves, the sale prices of
natural gas and oil, labor and raw material costs, the availability
of sufficient capital resources to carry out the anticipated level
of new well development and construction of related pipelines,
environmental issues, weather conditions, competition and general
market conditions. Actual results may differ materially due to a
variety of factors, some of which may not be foreseen by Quest.
These risks, and other risks are detailed in Quest Resource
Corporation's and Quest Energy Partners, L.P.'s filings with the
Securities and Exchange Commission, including risk factors listed
in their latest annual reports on Form 10-K and other filings with
the Securities and Exchange Commission. You can find Quest Resource
Corporation's filings with the Securities and Exchange Commission
at www.qrcp.net or at www.sec.gov and Quest Energy Partners, L.P.'s
filings with the Securities and Exchange Commission at www.qelp.net
or at www.sec.gov. By making these forward-looking statements,
Quest undertakes no obligation to update these statements for
revisions or changes after the date of this release.
Company Contact: Jack Collins CFO Phone: (405) 702-7460
Websites: www.qrcp.net www.qelp.net www.qmlp.net
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