X0202 4 2006-04-24 0 0001089104 QUEST OIL CORP QOIL 0001361707 Wallen Joseph 580 2ND STREET SUITE 102 ENCINITAS CA 92024 1 1 0 0 Chief Financial Officer Common Stock 2006-04-24 4 A 0 200000 0 D 850750 D Common Stock 2006-04-24 4 A 0 45454 0 D 896204 D Series D Warrant .22 2006-04-24 4 A 0 1000000 0 A 2006-05-01 2011-05-01 Common Stock 1000000 1000000 D Series D Warrant .22 2006-04-24 4 A 0 1000000 0 A 2006-05-01 2011-05-01 Common Stock 1000000 1000000 D Pursuant to the 2006 Director?s Annual Compensation Program (the ?Program?) effective May 1, 2006. Through the Program, each Director receives a common stock purchase warrant to purchase 1,000,000 shares of Quest Oil Corporation?s restricted common stock at an exercise price of $0.22 per share. The warrants vest at a rate of 250,000 warrants every 90 days beginning the effective date of May 1, 2006. As of the date of this filing, Mr. Wallen has been awarded 45,454 shares of common stock pursuant to the Program. Pursuant to a 2006 Employment Agreement effective May 1, 2006, Mr. Wallen was issued a common stock purchase warrant to purchase 1,000,000 shares of Quest Oil Corporation?s restricted common stock at an exercise price of $0.22 per share. The warrants vest at a rate of 250,000 warrants every 90 days beginning the effective date of May 1, 2006. /s/ Joseph F. Wallen 2006-05-02