Settlement Reached in the Quest Securities Class Action and Derivative Litigation

OKLAHOMA CITY, Sept. 3 /PRNewswire/ -- The following statement is being issued by Federman & Sherwood, The Rosen Law Firm, P.A., and John E. Barbush, P.C. regarding the Quest Securities Class Action and Derivative Litigation.

This Notice relates to the following actions (the "Quest Actions"):

• Michael Friedman, individually and on behalf of all others similarly situated vs. Quest Energy Partners, LP; Quest Energy GP, LLC; Quest Resource Corporation; Jerry Cash; David E. Grose; David C. Lawler; Gary Pittman; Mark Stansberry; Murrell, Hall, McIntosh & Co., PLLP; and Eide Bailly LLP, Case No. 08-CV-936-M

• James Jents, individually and on behalf of all others similarly situated vs. Quest Resource Corporation; Jerry Cash; David E. Grose; and John Garrison, Case No. 08-CV- 968-M

• J. Steven Emerson; Emerson Partners; J. Steven Emerson Roth IRA; J. Steven Emerson IRA RO II; and Emerson Family Foundation vs. Quest Resource Corporation Inc.; Quest Energy Partners LP; Jerry Cash; David E. Grose; and John Garrison, Case No. 5:09-cv-1226M

• Bristol Capital Advisors and Bristol Investment Fund, LTD vs. Quest Resource Corporation, Inc.; Jerry Cash; David E. Grose; and John Garrison, Case No. CIV-09-932

• James Stephens, derivatively on behalf of Nominal Defendant Quest Resource Corporation, Inc. vs. William H. Damon, III; Jerry Cash; David Lawler; David E. Grose; Jaime B. Kite, Jr.; John C. Garrison; and Jon H. Rateau and Quest Resource Corporation, Inc., Case No. CIV-08-1025

TO:  ALL PERSONS WHO PURCHASED COMMON UNITS OF QUEST ENERGY PARTNERS, LP (NOW NAMED "POSTROCK MIDCONTINENT PRODUCTION, LLC") (HEREIN REFERRED TO AS "QUEST ENERGY") DURING THE PERIOD FROM NOVEMBER 7, 2007 THROUGH AUGUST 24, 2008, INCLUSIVE, ("QUEST ENERGY CLASS"), AND/OR PURCHASED COMMON STOCK OF QUEST RESOURCE CORPORATION (NOW NAMED "POSTROCK ENERGY SERVICES CORPORATION") (HEREIN REFERRED TO AS "QUEST RESOURCE") DURING THE PERIOD FROM MAY 2, 2005 THROUGH AUGUST 25, 2008, INCLUSIVE, ("QUEST RESOURCE CLASS"), OR ARE SHAREHOLDERS OF POSTROCK ENERGY CORPORATION ("POSTROCK")

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Western District of Oklahoma, that a hearing will be held on November 29, 2010 at 10:00 a.m. in room 301 before the Honorable Vicki Miles-LaGrange, United States District Judge for the Western District of Oklahoma, 200 NW 4th Street, Oklahoma City, OK 73102 for the purpose of determining:  (1) whether the proposed Settlement consisting of the sum of $10,100,000 (of which a total of $1,010,000 will be paid to plaintiffs in both law suits known as Bristol Capital Advisors v. Quest Resource Corporation, Inc., et al., Case No. CIV-09-932, (the "Bristol Capital Litigation"), and Emerson v. Quest Resource Corp., Case No. 5:09-cv-1226M, (the "Emerson Litigation")) should be approved by the Court as fair, reasonable, and adequate; (2) whether the corporate governance reforms approved by the PostRock Energy Corporation board of directors in consideration for a full release and dismissal with prejudice of the derivative lawsuit known as Stephens v. Damon, et al., Case No. 08-CV-1025-M, (the "Stephens Litigation") in addition to other pending derivative lawsuits is fair, reasonable and adequate; (3) whether the proposed plan to distribute the settlement proceeds is fair, reasonable and adequate; (4) whether the application for an award of attorneys' fees of one third of the Settlement amount and reimbursement of expenses of not more than $350,000 should be approved; and (5) whether the class actions made on behalf of the Quest Energy Class and the Quest Resource Class, in addition to the Bristol Capital Litigation, the Emerson Litigation, and the Stephens Litigation, should be dismissed with prejudice.

If you purchased common units of Quest Energy during the class period from November 7, 2007 through August 24, 2008, inclusive, if you purchased common stock of Quest Resource during the class period from May 2, 2005 through and including August 25, 2008, and/or are a current PostRock shareholder, your rights may be affected by this Settlement.  If you are a member of the Quest Energy Class, the Quest Resource Class and/or are a current PostRock shareholder and have not received a detailed Notice of Pendency and Proposed Settlement of Class Actions and Derivative lawsuit and a copy of the Proof of Claim and Release, you may obtain copies by writing to Quest Securities Litigation, c/o The Garden City Group, Inc., Claims Administrator, P.O. Box 9657, Dublin, OH 43017, or going to its website, www.gardencitygroup.com.  

If you are a member of the Quest Energy Class or Quest Resource Class, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release no later than November 13, 2010, establishing that you are entitled to recovery.  You will be bound by any judgment rendered whether or not you make a claim.  If you desire to be excluded from the Quest Energy Class or the Quest Resource Class you must mail your exclusion request, post-marked no later than November 15, 2010, to The Garden City Group, Inc.  

Any objection to the Settlement, Plan of Allocation, or the Request for Award of Attorneys' Fees and Reimbursement of Expenses must be mailed or delivered such that it is received by each of the following no later than November 15, 2010:

A copy of the Settlement Agreement which has been filed with the Court and related documents can be found on the Claims Administrator's web site at www.gardencitygroup.com.  When Class Counsel's motions for final approval of the Settlement, the Plan of Allocation, and request for attorneys' fees and expenses are filed with the Court, they will be made available on the Claims Administrator's website.  While the deadline to file such final approval motions is 20 calendar days prior to the November 29, 2010 final hearing, Class Counsel (while not obligated to) anticipates filing such motions as early as 41 calendar days prior to the final hearing.  Do check the website regularly.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED:  September 3, 2010

BY ORDER OF THE COMMON UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF OKLAHOMA

SOURCE Federman & Sherwood; The Rosen Law Firm, P.A.; John E. Barbush, P.C.