Oilsands Quest: Canadian Black Gold

by: QualityStocks May 28, 2008 | about stocks: BQI    

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Incorporated in Colorado, U.S.A. and headquartered in Calgary, Alberta, Oilsands Quest, Inc. (BQI) is an explorer and developer of oil sands projects. The company has oil sands permits in the Canadian provinces of Alberta and Saskatchewan. Their goal is to build shareholder value for the long-term through the development of these oil sands.

Oilsands Quest, Inc. trades on the American Stock Exchange [AMEX] as part of the Nonmetallic Mineral Mining sector. The company’s main operating subsidiaries are Oilsands Quest Sask. Inc., Township Petroleum Corporation, and Oilsands Quest Technologies Inc. They wholly own and operate their resource rights. Since 2004, the company has raised US$258 million in capital.

Oilsands Quest, Inc. is planning for production at its first major discovery, Axe Lake in northwest Saskatchewan. This project is in position for a joint venture partnership. Along with the planning, field-testing is also underway on this Axe Lake Discovery project. The company acquired permits for oil sands exploration in this area of the province in 2004, and is leading the way in the first major oil sands exploration program in Saskatchewan’s history.

The company seeks to explore and quantify other global-scale discoveries on their properties in Alberta and Saskatchewan. They also seek to negotiate agreements with selected partners to develop individual projects while still maintaining a significant interest in each one. In January of this year, the company initiated exploratory drilling on contiguous Alberta permits. This same month saw two oil sands exploration permits acquired in the province as well.

Oilsands Quest, Inc. strives to move forward as a leading developer of Saskatchewan’s oil sands industry. They hope potential shareholders will join them in their sandbox as they look to develop new sources of oil. They believe that this black gold is certainly a valuable Canadian version of it for their shareholders.

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This article has 13 comments:

  •  
    May 28 03:58 AM
    That is the reason I buy BQI in my personal account on large dips systematically for the sake of my retirement anf the future of children benefit. I systematically beat the S&P Index by a wide margin. Yet I have just established a positon in CLR, BEXP, WLL and NOG - all of them are the emerging drivers of the "Bakken oil shale" long play.

    Good investing
    Reply | Link to Comment
  •  
    May 28 11:22 AM
    BQI has a strong, trustworthy, experieced management team. They have discovered the resources and are now experimenting with lab tests on the best recovery methods to extract it. A joint venture partner is expected this fall. Only 10% of their land has been explored. Management's conservative estimates are 10+ BILLION barrels of bituman. Test production on three wells will begin this fall. If you believe that most of the world's cheap oil has already been discovered, now is the time to own this stock.
    Reply | Link to Comment
  •  
    May 28 01:29 PM
    Why has the stock dropped over 50 cents in the last week? Getting worried???
    Reply | Link to Comment
  •  
    May 28 02:57 PM
    I have been reading what they are going to do but so far it just seems to be ALL TALK.
    Reply | Link to Comment
  •  
    May 28 05:29 PM
    I don't think it is ALL talk, but there is a lot of talk. Not sure just what this article adds to the knowledge base.
    Reply | Link to Comment
  •  
    May 28 06:46 PM
    I live in Fort mcmurray and it is a beehive of activity. With new technology, it is only a matter of time before the whole region is developed.
    Reply | Link to Comment
  •  
    May 28 06:49 PM
    Dwight - I agree, ALL TALK

    $130 oil and you own 10+ billion barrels BUT you haven't been able to get one barrel to market over the past 2 years.

    Look at some of key phrases from the above article:
    "is planning for production"
    "field-testing is also underway"
    "acquired permits in 2004"
    "company seeks to explore and quantify other global-scale discoveries"
    "also seek to negotiate agreements"
    "In January of this year, the company initiated exploratory drilling"
    "BQI strives to move forward"
    "They hope potential shareholders will join them"
    "They believe that this black gold is certainly a valuable Canadian version"

    How else could you possibly describe this other than TALK.
    It's a crock of bull.

    Just answer the question - how many barrels have you sold?
    Reply | Link to Comment
  •  
    May 28 10:52 PM
    Hmmmm, why is the stock falling...for the same reasons all oil sector
    has been...falling oil prices again....then the stock will go up again.
    As for production, ignorance is speeking when you have no idea on the setup time for this kind of production, let alone working in Northern Canadian seasons. So, actuallly, this company is moving along at quite rapidly considering all the permits & legislation it has to work through. I have followed this company since OTC days and management has not misled the public.....
    As for their current position...read...go to their website and read the PDFs from their presentations. Due to the change in laws, they cannot tell us their updated confirmed reserves until an independent lab makes its own analysis. But, read between the lines, they have already defined three more sites in their discussions. So, mark my words, by end of summer, this stock will jump again and hit another new plateau. The days of this stock in $3s will be long gone. And, once test production kicks in, 1000 brls aday, the stock will jump again. As it will again with a partnership announcement. So yes, I willbe happy to make the money you won't! :D
    Reply | Link to Comment
  •  
    May 29 05:45 PM
    Facilitator is right. Alberta was mostly strip mining. They are just now working on ways to pump out the bitumin. OPC has a better way to do this. Saskatchewan has just passed new tax laws to make it feasible to remove their bitumin which is much deeper than Alberta's. BQI is the sole holder of leases to drill there. Be glad you got in now. Look how Alberta's producers have shot up
    Reply | Link to Comment
  •  
    May 30 01:24 PM
    All of you optimist are inspiring but also wrong. BQI is a dud and will remain so for some time. Wall Street wants to take this outfit seriously, why else would a business with zero income, and none likely for some time yet, have market capitalization approaching a billion $$$? But individual/institution... investors are not interested and I believe that management is asleep at the switch. The company and it's stock MUST be marketed effectively if they are going to attract smart investors (which excludes me since I bought on gut instinct) based on a promise of future success only. I am not Warren Buffett but no one has explained to me how a company which...based on conservative extimates...can have exclusive rights to a worldwide coveted commodity worth trillions of $$$ and yet hold in the 4 $$$ range without much upward movement? By the way, has anyone heard anything from this newly hired specialist for investor relations who's duties include promting BQI and company insterests? A do nothing puppet who clearly fits in well into a nest of incompetent corporate "leaders" I hope I am wrong and that we all make a bundle but do not bet your kids college fund on this thing. Not yet anyway.
    Reply | Link to Comment
  •  
    May 30 02:44 PM
    Good questions and points. What are the facts?
    Intentionally held slow for some mysterious reason?
    Thats just the conspiracy nut within me, never mind!
    Reply | Link to Comment
  •  
    Jun 01 03:41 PM
    there must be some expert/professional oil sands developers that can model expected yields and extraction costs/timetables that have been used to generate $300 million in outside investments. As a shareholder, can we gain access to these data??? charles
    Reply | Link to Comment
  •  
    Jun 14 09:36 AM
    turtle trade, then let fundemental analysis tell you why.
    Reply | Link to Comment
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