Quest Resource Corporation Requests Hearing Regarding NASDAQ Staff Determination...

Quest Resource Corporation Requests Hearing Regarding NASDAQ Staff Determination
Notice

OKLAHOMA CITY, May 18, 2009 (GLOBE NEWSWIRE) -- Quest Resource Corporation
(Nasdaq:QRCP) (the "Company") today announced that on May 12, 2009 it received a
staff determination notice from The NASDAQ Stock Market ("NASDAQ") stating that
the Company's common stock is subject to delisting since the Company is not in
compliance with the filing requirements for continued listing as set forth in
Listing Rule 5250(c)(1) (the "Rule"). The NASDAQ letter, which the Company
expected, was issued in accordance with standard NASDAQ procedures due to the
delayed filing of the Company's Quarterly Report on Form 10-Q for the quarter
ended September 30, 2008 (the "2008 Third Quarter Form 10-Q") and Annual Report
on Form 10-K for the year ended December 31, 2008 (the "2008 Form 10-K"). The
NASDAQ letter also noted that the Company was delinquent in the filing of its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 (the "2009
First Quarter Form 10-Q")

On May 18, 2009, the Company requested a hearing before the NASDAQ Listing
Qualifications Hearing Panel to appeal the staff determination. The hearing
request automatically stays the delisting of the Company's common stock until
June 3, 2009, the 15th calendar day from the Company's May 19, 2009 deadline to
request a hearing. The Company also requested that the Panel further stay the
delisting of the Company's common stock to allow the Company additional time to
file its 2008 Third Quarter Form 10-Q, the 2008 Form 10-K and the 2009 First
Quarter Form 10-Q. There can be no assurances, however, that the Panel will
grant the Company's requests or that the Company's common stock will not be
delisted.

As previously disclosed, on November 19, 2008, the Company received a letter
from NASDAQ, indicating that the Company was not in compliance with the Rule due
to the failure to timely file the 2008 Third Quarter Form 10-Q. Following
receipt of such letter, the Company timely submitted a plan to NASDAQ, outlining
the Company's planned actions to regain compliance with the Rule. NASDAQ
subsequently granted the Company an extension to allow the Company until May 11,
2009 to regain compliance with the Rule by filing the 2008 Third Quarter Form
10-Q. On March 30, 2009, the Company received a second letter from NASDAQ,
indicating that the Company was not in compliance with the Rule due to its
failure to timely file the 2008 Form 10-K. As requested by NASDAQ, following
receipt of such letter, the Company timely submitted an updated compliance plan,
but NASDAQ did not grant the Company its requested extension to allow the
Company until May 31, 2009 to regain compliance with the Rule by filing the 2008
Third Quarter Form 10-Q and the 2008 Form 10-K.

The Company is working diligently to complete the preparation and filing of the
2008 Third Quarter Form 10-Q, the 2008 Form 10-K and the 2009 First Quarter Form
10-Q.

About Quest Resource Corporation

Quest Resource Corporation is a fully integrated E&P company that owns:
producing properties and acreage in the Appalachian Basin of the northeastern
United States; 100% of the general partner and a 57% limited partner interest in
Quest Energy Partners, L.P. (Nasdaq:QELP); and 85% of the general partner and a
36.4% of the limited partner interests in the form of subordinated units 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, the Quest Energy Partners website at www.qelp.net, and the Quest
Midstream Partners website at www.qmlp.net. Quest Resource routinely posts
important information in the "Investors" section of its website.

The Quest Resource Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5732

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, including
statements regarding the Company's ability to file its Form 10-Qs and Form 10-K,
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 ongoing internal investigation into the
questionable transfers by Quest's former CEO, the ongoing worldwide crisis in
the capital markets, 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's filings with the Securities and Exchange
Commission, including risk factors listed in its latest annual reports on Form
10-K and other filings with the Securities and Exchange Commission. You can find
Quest's filings with the Securities and Exchange Commission at
www.questresourcecorp.com 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.

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CONTACT: Quest Resource Corporation
Jack Collins, EVP Finance/Corporate Development
(405) 702-7460
www.qrcp.net