Qwest Energy (2001) Limited Partnership

Qwest Energy (2001) Limited Partnership
Qwest Energy Income Development Limited Partnership

Qwest Energy Income Development Limited Partnership
Qwest Energy Development III Limited Partnership

Qwest Energy Development III Limited Partnership
Qwest Energy II Limited Partnership

Qwest Energy II Limited Partnership

August 08, 2005 18:16 ET

Qwest Energy Announces Distributions to Limited Partners and Removal of Hold Period for Rock Energy Inc. Shares

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 8, 2005) - Further to the closing of the transactions to sell the four drilling fund Limited Partnerships' (collectively referred to as the "Qwest Drilling Fund LP's", as described below) oil and gas interests to Rock Energy Inc. ("Rock Energy"), Qwest Energy is pleased to announce distributions to Limited Partners of the Qwest Drilling Fund LP's. In addition, there will not be a four month hold period on the Rock Energy shares to be distributed to Limited Partners of the Qwest Drilling Fund LP's.

Rock Energy Transaction Distributions

The Board of Directors of the general partners' for the Qwest Drilling Funds LP's are pleased to announce the following approvals of distributions, for each of the four Qwest Drilling Fund LP's to their respective Limited Partners on August 9th, 2005;



1. Qwest Energy (2001) Limited Partnership
- Per Limited Partnership Unit distribution:
- $0.18 Cash
- 0.813 Rock Energy shares
- At Rock Energy's share price of $5.19 (as at market close
today), this represents a per Limited Partnership Unit cash
and share distribution of $4.40.

An additional $0.196 (cash) per Limited Partnership Unit remains as
a hold back as per the Rock Energy transaction. It is expected the
hold back proceeds will be distributed to Limited Partners, net of
any adjustment, in late October, 2005,

2. Qwest Energy Income Development Limited Partnership
- Per Limited Partnership Unit distribution:
- $1.304 Cash
- 1.082 Rock Energy shares
- At Rock Energy's share price of $5.19 (as at market close
today), this represents a per Limited Partnership Unit cash
and share distribution of $6.92.

An additional $0.365 (cash) per Limited Partnership Unit remains as
a hold back as per the Rock Energy transaction. It is expected the
hold back proceeds will be distributed to Limited Partners, net of
any adjustment, in late October, 2005,

3. Qwest Energy II Limited Partnership
- Per Limited Partnership Unit distribution:
- 2.688 Rock Energy shares
- At Rock Energy's share price of $5.19 (as at market close
today), this represents a per Limited Partnership Unit
distribution of $13.95.

An additional $0.459 (cash) per Limited Partnership Unit remains as
a hold back as per the Rock Energy transaction. It is expected the
hold back proceeds will be distributed to Limited Partners, net of
any adjustment, in late October, 2005,

4. Qwest Energy Development III Limited Partnership
- Per Limited Partnership Unit distribution:
- $4.371 Cash
- 3.039 Rock Energy shares
- At Rock Energy's share price of $5.19 (as at market close
today), this represents a per Limited Partnership Unit cash
and share distribution of $20.14.


An additional $0.944 (cash) per Limited Partnership Unit remains as a hold back as per the Rock Energy transaction. It is expected the hold back proceeds will be distributed to Limited Partners, net of any adjustment, in late October, 2005.

About Rock Energy

Rock Energy is a Calgary, Alberta based TSX listed (symbol RE.TO) junior oil and gas company with a proven and respected executive management team (www.rockenergy.ca).

Advisory

This press release contains forward-looking statements that involve known and unknown risks, uncertainties, assumptions and other factors, some of which are beyond Qwest Energy's control that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Qwest Energy believes that the expectations reflected in those forward-looking statements are reasonable at the time made but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of such information, as the case may be, and may be superseded by subsequent events. Qwest Energy does not intend, and does not assume any obligation, to update these forward-looking statements.

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