"CanWest Petroleum Corporation (OTC BB: CWPC) is
exploring and developing large oil and gas resources
in the sedimentary basins of Western Canada.
The Company holds more than 2.25 million acres of land
under permit for exploration and comes to market
with several billion barrels of proven
and potential resources."
This company has been showing some activity and has reached all times high. This could be a potential player in the oil bubble strategy.
A lot of interesting stuff on their homepage.
http://www.canwestpetroleum.com/s/Home.asp
Anyone here that knows this company?
Thanks.
CWPC is up around 20% today on a good volume (at least 10 times the average volume). If it closes at today´s highs it could be taking off with some style ;D
Thoughts?
Great pick. They have drilling rights in the Canadian Oilsands, which are supposed to be laoded with oil. Could be a winner here.
CALGARY, Alberta--(BUSINESS WIRE)--June 16, 2005--CanWest Petroleum Corporation (OTCBB:CWPC - News) -
OILSANDS QUEST
OILSANDS QUEST SUCCESSFULLY COMPLETES FINANCING AND IS READY TO UNDERTAKE DRILLING
Oilsands Quest Inc. an operating subsidiary of CanWest Petroleum Corporation announces it has successfully completed a $4.4 million CDN equity financing with CIBC World Markets Inc. acting as its agent, fully funding its planned 2005 exploration program leaving CanWest with a 54.4% equity interest in Oilsands Quest. The Company has submitted a detailed exploration proposal to the Province of Saskatchewan to initiate exploratory drilling on permits the Company owns. Oilsands Quest has also initiated a process of local community consultation to establish awareness and understanding of the Company's plans for its exploration program, which subject to Government approval will start this summer.
CWPC is up 0.12 or 17% today
Good pick
got
[email protected] . Closed at the HOD 1.04. This stock has mojo.
Nice pick.
The chart is looking very nice. Closing just below the high of the day and reaching all times high today.
I have come across some articles about this oil sand in Canada and some are predicting it will be huge due to the oil issue. What do you think? Could this one be heading at least 100% higher in the short term? How high do you think this one could go?
Thanks.
Not sure what the potential is yet, don't know to much about the country. I have heard that there is a lot of oil in the Canadian oil sands. This move is without any news, so I like it even more. Look to me that it could double in the short term.
I already made some nice cake from it. Letting the rest ride it out till hit doubles.
Wow...I missed this :'(
Great call on this one Athakinu....
I will be looking to buy on a pull back.
Applaud your work on this outstanding pick.
"APPLAUD"
i bought yesterday after a 3 day retracement to 1.61....this was turning fast..I entered at 1.72 with a nice gain so far. This closed 2.03! Oil stays hot... ;D
Volume still strong...
Applaud to you Athakinu
Great pick. Not invested but it sounds as though it has a lot of potentual.
Good luck to those who have bought :)
Back to the upside today.
Looking to close above the 50-dma
Breakout from the Symmetrical Triangle (continuation) Pattern
On good volume.
Maybe this is the real deal......... ;)
Possible Breakout....I stress Possible... ;D
Symmetrical Triangle (continuation) Pattern.
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
32.05%above 13-day EMA
127.68%above 50-day EMA
Press Release Source: CanWest Petroleum Corporation
CanWest Petroleum Corporation: Firebag East Athabasca Oil Sands Project-Drilling Progress Report
Friday January 13, 2:52 pm ET
CALGARY, Alberta--(BUSINESS WIRE)--Jan. 13, 2006--CanWest Petroleum Corporation (OTCBB:CWPC - News) is pleased to report the initial core hole known as # 6 - 11 - 095 - 25W3 has been drilled to total depth and intersected 18 meters (59 feet) of bitumen bearing sands within the McMurrary formation. The core recovery was greater than 90% and will be sent for analysis.
Hole #6 - 11 is located approximately 400 meters to the west of a previously drilled hole known as #07 - 11 - 095 - 25W3 which also cored bitumen from the Mc Murray formation.
The next several core holes will be drilled in the immediate area which is located in the western central portion of the Company's overall land position of 846,000 acres.
Weather permitting, the balance of the Phase One 25 hole program may be completed on schedule. The company will report on the Phase One Program from time to time as results are received. Also, the company has completed its application to drill a further 125 core holes, that will be submitted for government approval at this time.
CanWest Petroleum Corporation has the right to own a 71.3% interest in Oilsands Quest, a private Alberta operating company that has 100% of extensive acreage in the Canadian Athabasca Oil Sands Region covering some 846,000 acres known as the Firebag East, which is highly prospective for Athabasca bitumen. The Company also owns 100% of the 23,000 acre Eagle Nest Project with a known bitumen resource of 3.4 billion barrels in place. In addition, the Company owns 98% of the Pasquia Hills oil shale project with a fully risked resource of 2.4 billion barrels shale oil that grades 7.5% kerogen by weight of which 59% are aromatics including benzenes and naphtha's suitable for petro chemical feed stocks.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
Cusip# 138748 10 8
CanWest Petroleum Corporation (OTC Bulletin Board:CWPC - News)
Contact:
CanWest Petroleum Corporation
Steve McGuire
(604) 606-7979 or Toll Free: 1-800-877-1626
OR
CanWest Petroleum Corporation
Bob Faris
(604) 606-7979 or Toll Free: 1-800-877-1626
OR
CanWest Petroleum Corporation
Jonathan Buick
(416) 907-4597
OR
CanWest Petroleum Corporation
Randal Pow
(888) 858-7759
[email protected]www.canwestpetroleum.com
--------------------------------------------------------------------------------
Source: CanWest Petroleum Corporation
Took a very good bounce off the 50-dma.
Broke through the resistance @ $3.32
Today a White Marubozu was formed. This shows that the buyers controlled the price action from the first trade to the last trade.
Volume: 5,218,885
Avg Volume (3m): 1,648,980
Support @ $3.13...2.84...2.66
Resistance....blue sky above.
Technicals
MACD is Bullish
Stochastic is Bullish
Record Price High
Most Actives
Record Price Break Out
Gap Up
Percentage Gainer
Last Price Quote is:
36.94%above 13-day EMA
111.00%above 50-day EMA
From the Homepage of CWPC.OB
CanWest Petroleum Corporation is a unique oil and gas company with exposure to significant upside value from three large world-class projects with the potential for several billion barrels oil resource.
Thornton Donaldson, President, noted "Our Company has strategically positioned itself as the controlling shareholder of Oilsands Quest Inc. (with 70% equity), a private Calgary based company that now holds the second largest prospective land position in the Athabasca Tar Sands Region known as Firebag East. Oilsands Quest Inc. is the operator and under the direction of its' president Christopher Hopkins is prepared for a major exploration program starting early November 2005 as to 150 drill holes with the potential to discover a world class oil resource of several billion barrels which is in keeping with the reserves to the west. This is truly a major achievement for an emerging-growth junior company such as ours"
Mr. Hopkins, President of Oilsands Quest, was a Senior Vice President of Synenco Energy Inc during its formative years which now plans to produce 100,000 barrels oil/day by 2009 with announced reserves of more than 1.5 billion barrels oil from its Northern Lights Project.
CanWest has recently acquired a 100% interest in 23,040 (one township) acres of prospective Athabasca Oil Sands within the Athabasca District subject to certain cash payments and royalties as to 9 cents per barrel. The Energy Utilities Board estimates 3.4 billion barrels of reserves. Based on several drill cores and logs on the Eagle Nest Prospect, the bitumen pay in the McMurray formation averages 20 meters thick and grades over 8% bitumen by weight and may be suitable for SAGD production. The Company is in the process of seeking approval for a 12 well exploration core hole program that may be drilled in the first quarter of 2005.
The Company also owns 97% of the Pasquia Hills Oil Shale project located in eastern central Saskatchewan and covers approximately 850,000 acres with 50,000 acres deemed a mine site area. The mine site contains a drill indicated resource of 2.3 billion barrels shale oil (44 drill holes) on a fully risked basis that grades 7.5% kerogen by weight of which 59% are aromatics including benzenes, naphtha, olefins and parafins with an overall potential of 8 billion barrels. The benzenes and naphthas are characterized by Nova Chemicals as petrochemical feedstocks. The Company is in a joint venture with Nova Chemicals to complete a feasability study. At this time, Apex Engineering is building a steam assisted retort to identify maximum yields as well the Company is also recalculating the ore body to identify the highest grade pay zone as to one billion barrels.
Have A Peak....... ;)
http://www.canwestpetroleum.com/s/Home.asp
Rock on Pete..... ;D
CANWEST PETROLEUM CP (OTC BB:CWPC.OB) Delayed quote data
Last Trade: 5.10
Trade Time: 11:24AM ET
Change: 0.39 (8.28%)
Prev Close: 4.71
Open: 4.78
Bid: 5.09 x 500
Ask: 5.10 x 500
1y Target Est: N/A
Day's Range: 4.78 - 5.52
52wk Range: 0.27 - 5.06
Volume: 2,366,870
Avg Vol (3m): 1,907,610
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
Ready to resume the uptrend,consolidation ending.
The big picture remains the same.
Points of Interest:
1. Picked the final director, fullfilling AMEX outstanding application requirements.
2.The most important piece of info; Goodman from Dundee investments control 6% of the outstanding shares. Goodman, from my dd, is considered to be one of Canada's most respected and successful investors in junior mining stocks. In 2004, Ernest and Young nominated him as entrepreneur of the year. His firm must have been purchasing the shares at the 3 - 5 range.
I increased my position, If I goof, my wife warned me, I am sleeping at the neighbour's doghouse, and they have a really mean Doverman.
Up a buck today.......almost hit 8.
http://finance.yahoo.com/q?s=cwpc.ob
... and to think I held this thing for months, watching it drag along sideways in the 4.50-4.75 range. Sold it at the loss of my commission only (6.95x2) so not too terrible - to buy GZFX - looks like I may not be completely nuts for making that move now :-)
Talk about a chart thought! CWPC definitely looks promising - I plan to get back in and ride it to the mid 60's...
GLTA
-bohemian2k
Perfect point to buy in - the stock is rebounding on low vol
oil prices are up, so digging in the frozen oil soaked sand becomes economical.
This stock will soon be the only oil sand pure play on the AMEX soon and there is usually a run up b4 the swithch from the bb.
http://finance.yahoo.com/q?s=cwpc.ob
Finding support at the 13-day EMA and back above it.
This one is flagged up here.
If it breaks out, it'll run to $9-$10 area......JMHO of course. ;)
Bull Flag ....Look familiar on this chart ? ;D
Volume: 3,876,603
Avg Vol (3m): 3,109,830
Technicals
Last Price Quote is:
6.74%above 13-day EMA
29.19%above 50-day EMA
RS Rating: N/A
Flag, Pennant (Continuation) Pattern.
Flag: A flag is a small rectangle pattern that slopes against the previous trend. If the previous move was up, then the flag would slope down. If the move was down, then the flag would slope up. Because flags are usually too short in duration to actually have reaction highs and lows, the price action just needs to be contained within two parallel trend lines.
Flags and Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a mid-point of the move.
Even though flags and pennants are common formations, identification guidelines should not be taken lightly. It is important that flags and pennants are preceded by a sharp advance or decline. Without a sharp move, the reliability of the formation becomes questionable and trading could carry added risk. Look for volume confirmation on the initial move, consolidation and resumption to augment the robustness of pattern identification.
This one continues to amaze me.
Volume: 3,644,967
Avg Vol (3m): 3,152,850
Technicals
Last Price Quote is:
12.36%above 13-day EMA
35.77%above 50-day EMA
i am buying cwpc tomorrow ;D we will retest 8.00 ...hopefully breakout this week or next...
Oil Prices Rise Toward $75 a Barrel
Wednesday May 3, 7:39 am ET
By George Jahn, Associated Press Writer
Oil Prices Rise Toward $75 a Barrel Amid Fears Over Iran Nuclear Dispute
VIENNA, Austria (AP) -- Oil prices tested levels near $75 a barrel Wednesday amid nagging concern that Iran, a key exporter, could cut supplies because of international pressure to modify its nuclear program.
ADVERTISEMENT
Also contributing to the upward trend were an expected decline in gasoline stocks when U.S. weekly energy data is released later Wednesday, bullish buying by investors, a refinery outage in Italy and supply disruptions in Africa.
Unrest in Nigeria and the approach of the summer driving season are likely to exert additional upward pressure on prices.
Light, sweet crude for June delivery rose 14 cents to $74.75 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe, after touching $74.99 earlier in the day. The intraday peak of $75.35 was reached briefly on April 21.
The recent bullish formation,
is ready for a new bullish move. 8)
Technicals
Last Price Quote is:
9.43%above 13-day EMA
22.18%above 50-day EMA
RS Rating: N/A
double bottom break out , first target = 8-6.5 + 8= 9.5
;D
Form 8-K for CANWEST PETROLEUM CORP
--------------------------------------------------------------------------------
19-May-2006
Change in Directors or Principal Officers
• CANWEST PETROLEUM CORP Files SEC form 8-K, Change in Directors or Principal Officers
EDGAR Online (Fri, May 19)
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On May 18, 2006, Thornton Donaldson and William Timmins resigned from the Board of Directors of CanWest Petroleum Corporation (the "Company"), effective as of such date. Mr. Donaldson's and Mr. Timmins' departure is not related to any disagreement with the Company or with the Company's operations, policies, or practices.
Press Release Source: CanWest Petroleum Corporation and Oilsands Quest Inc.
CanWest Petroleum Corporation and Oilsands Quest Inc.: Corporate Update
Thursday May 18, 3:25 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--May 18, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) and Oilsands Quest Inc. -
The Company announces that it has accepted the resignations of Thornton Donaldson P. Eng. as a Director and Bill Timmins as a Director. Messrs. Donaldson and Timmins have resigned to make room on the Board of Directors for new independent directors as part of the ongoing transition to satisfy senior American stock exchange listing requirements. At this time, members of the Board of Directors are: Murray Wilson, Chairman (Calgary); Romeo D'Angela (Toronto); Ron Phillips (Connecticut); and Rod Haverslew (Calgary). The company is in discussions with a number of prospective directors that have significant direct oil sands, capital markets and corporate governance experience.
Ron Phillips noted, "Thornton Donaldson has been instrumental in the transition to becoming a Calgary based company with given oil sands expertise and has served the Company well from its inception eight years ago. With a successful background in mining over the last 40 years, his leadership during the formative years was invaluable."
Bill Timmins commented, "It is the right time to move the Company's operations to Calgary with Murray Wilson as our new CEO, given his long track record of success in the Canadian Oil Sands in particular. In addition, it will also allow closer working relations with the management of CanWest's operating subsidiary, Oilsands Quest Inc, the operator of the Oilsands Quest Permit Lands (formerly known as the Firebag East Project)." Under the direction of Murray Wilson, Chairman and Chief Executive Officer of the Company, the transition to having the Company's head office and all operations based in Calgary is nearing completion.
Oilsands Quest expects to release a comprehensive progress report before the end of June which will include summary drill results of the Oilsands Quest Permit Lands for results received to date. Results are currently being processed and analyzed in various independent labs. Today Chris Hopkins stated that, "our results to date continue to exceed the company's expectations. The company continues to plan and construct the infrastructure required to support the Phase II exploration program, including roads and housing facilities." Oilsands Quest Inc. (www.oilsandsquest.com) is a private Alberta corporation of which CanWest Petroleum Corporation (www.canwestpetroleum.com) owns a 59.7 percent interest on a fully diluted basis.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
Cusip# 138748 10
Contact:
Contacts:
CanWest Petroleum Corporation
Jonathan Buick
Toll Free: 1-877-748-0914 or Office: (416) 915-0915
[email protected] or
[email protected] http://www.canwestpetroleum.com
--------------------------------------------------------------------------------
Source: CanWest Petroleum Corporation and Oilsands Quest Inc.
Press Release Source: Quality Stocks
QualityStocks Report: The Best OTCBB Investment Newsletters
Monday May 15, 7:00 am ET
SCOTTSDALE, Ariz., May 15, 2006 (PRIMEZONE) -- QualityStocks has produced the first statistical data and reports for the Penny Stock Investment Newsletter Industry showing which newsletters produce the Most Winning Picks and which produce stock picks with higher than average trading volumes and trading value gains. The reports include data analysis for March 2006 for the OTCBB covering over 1,200 stock pick recommendations for 600 public companies.
The average daily dollar volume trading for all stock picks was $607,000 on the day of the pick. The top dollar volume newsletter produced picks that traded an average of $19.3 million on the day, and one newsletter had a 92% winning picks average for their 12 picks in the month of March
44 percent of stock picks were winners on the day, rising to 52 percent of picks for OTCBB stocks trading in the $1.00-$1.99 price range.
10 percent of all stock picks in March 2006 gained at least 20 percent on the day of the pick, rising to 15 percent of picks for OTCBB stocks trading in the Under $0.10 price range.
A free report with aggregated data for OTCBB stock alerts in March 2006 is available to all subscribers to the QualityStocks Daily Report via a hyperlink in the Daily Report. Sign up for the Daily Report at http://www.qualitystocks.net.
Other paid reports are available showing the most winning stock pick newsletters, the highest dollar volume newsletters, and a complete Stock Promotion Report listing every stock pick by newsletter with their results, including price gains or losses, trading volumes, and trading values on the day of the picks.
Some recent examples of winning picks as reported in the QualityStocks Daily Report include:
CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) which opened on March 1, 2006 at $ 4.54 and closed last Friday May 12 at $7.79.
Seitel, Inc. (OTC BB:SELA.OB - News), a leading provider of seismic data to the oil and gas industry which opened on March 1, 2006 at $ 2.51 and closed last Friday May 12 at $ 4.79.
Torrent Energy Corporation (the ``Company'') (OTC BB:TREN.OB - News) gained 34 percent on May 9 following a positive report on its Methane Coos Bay project by Sproule Associates Inc.
Apollo Resources International Inc. (OTC BB:AOOR.OB - News) climbed more than 10 percent on May 10 to close at $1.12 following the announcement of a $1 million asset sale. Back on March 1, 2006 the stock traded in the $0.36 range and had daily gains as high as 36 percent in March.
About Quality Stocks
Quality Stocks is a free service that collates the Micro Cap Stock Picks featured by over 150 online Investment Newsletters into one free Daily Newsletter Report showing the Winners and Losers on the day. To sign up, visit http://www.qualitystocks.net.
Quality Stocks Disclaimer
Quality Stocks receives no paid compensation for any of the stocks mentioned in our Daily Newsletter Reports or in our Press Releases. We just report on what is happening out there.
Contact:
Quality Stocks
Mike Brown, Editor
[email protected]--------------------------------------------------------------------------------
Source: Quality Stocks
Took a bounce off the 200-day MA,
back above the 50-day MA.
Symmetrical Triangle (Continuation) Pattern......Breakout
AMEX Listing.
Has anyone heard anymore on this Company, getting listed on the AMEX, it's got to be coming up soon?
Technicals
Close Above the 50-day EMA
Most Actives
Percentage Gainer
Last Price Quote is:
20.04%above 13-day EMA
7.74%above 50-day EMA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
CWPC is in a oil sands conference in canada july 6th and will also announce drilling results this week. Could be a huge oil discovery in the canadian oil sands. Looks to run into the conference. Good luck
Press Release Source: CanWest Petroleum Corporation
Oilsands Quest Sets Date for Special Meeting of Shareholders, CanWest Petroleum Files 10KSB With SEC
Tuesday July 25, 3:45 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Jul 25, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) and Oilsands Quest Inc. announce that Oilsands Quest has set the date for a special meeting of Oilsands Quest shareholders to approve its intended combination with CanWest Petroleum and mailed its proxy materials to shareholders on July 21, 2006. Concurrent with the mailing, CanWest Petroleum filed its annual report on Form 10KSB with the SEC.
The special meeting of the shareholders of Oilsands Quest will be held on August 14, 2006, at 10:00 a.m. (Calgary time), at the Xchange Conference Centre, Suite 200, 639 - 5th Avenue South West, Calgary, Alberta, Canada.
CanWest Petroleum owns a 60.7 percent interest, on a fully-diluted basis, in Oilsands Quest. On June 12, 2006, CanWest Petroleum and Oilsands Quest jointly announced that the companies entered into an agreement that provides for the combination of the two companies. The terms of the agreement are contained in the Notice of Special Meeting to Shareholders and Management Proxy Circular dated July 21, 2006.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
CUSIP# 138 748 108
Contact:
Contacts:
CanWest Petroleum Corporation
Jonathan Buick
(416) 915-0915 or Toll Free: 1-877-748-0914
[email protected] --------------------------------------------------------------------------------
Source: CanWest Petroleum Corporation
Looking for a bounce,I think it has bottomed.
Natural Gas has been punished enough !
Volume: 4,232,766
Avg Vol (3m): 2,306,090
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
-1.70%below 13-day EMA
-19.64%below 50-day EMA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Press Release Source: CanWest Petroleum Corporation and Oilsands Quest Inc.
CanWest Petroleum Announces Closing of Combination with Oilsands Quest
Tuesday August 15, 9:12 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Aug 15, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) announced today that it has completed its combination transaction (the "Combination") with its subsidiary, Oilsands Quest Inc. As a result of the Combination, which was approved by the Oilsands Quest minority shareholders earlier today, CanWest Petroleum now owns 100 percent of the common voting equity shares of Oilsands Quest.
Each common share of Oilsands Quest held by other shareholders was exchanged for 8.23 exchangeable shares of Oilsands Quest (the "Exchangeable Shares"), resulting in the issuance of 76,504,302 Exchangeable Shares on a fully diluted basis. The rights, privileges and restrictions governing the Exchangeable Shares provide that each whole Exchangeable Share may be exchanged for one CanWest Petroleum common share. Through a voting trust arrangement, the holders of Exchangeable Shares are entitled to vote at all meetings of holders of common stock of CanWest Petroleum. Following the Combination, CanWest Petroleum currently has approximately 179,568,196 issued and outstanding common shares (including common shares underlying 57,349,388 Exchangeable shares) and, on a fully diluted basis, 232,165,234 common shares.
As part of the Combination, the following events occurred:
- The board of directors of CanWest Petroleum was reorganized and is now comprised of T. Murray Wilson (Executive Chairman), Christopher H. Hopkins, Ronald Phillips, Thomas Milne, William Scott Thompson and Gordon Tallman. The officers of the Corporation are now T. Murray Wilson, Executive Chairman; Christopher H. Hopkins, President and Chief Executive Officer; Karim Hirji, Chief Financial Officer; and Errin Kimball, Vice-President, Exploration.
- CanWest Petroleum became a reporting issuer in Alberta as of August 11, 2006, and on August 14, 2006, filed on SEDAR (www.sedar.com) its annual filings under National Instrument 51-101 for the year-ended April 30, 2006, comprised of Form 51-101F1 (statement of bitumen exploration activities and other information) and Form 51-101F3 (report of management and directors). As CanWest Petroleum has not attributed any reserves to its properties, it has not filed a Form 51-101F2 (report of independent qualified reserves evaluator or auditor). These filings are also available on CanWest Petroleum's website (www.canwestpetroleum.com). In an earlier news release dated July 6, 2006, the company's management released its estimate of resources which are to be further reported upon by independent third-party estimate.
CanWest Petroleum has applied for a listing on a senior U.S. exchange. In addition, the company intends to seek shareholder approval to change its name to Oilsands Quest Inc. or a similar name at its upcoming annual shareholder meeting to be held this fall.
Commenting on the Combination, Executive Chairman, T. Murray Wilson, said, "This is a pivotal step in the reorganization of CanWest Petroleum. The combined team is looking forward to capitalizing on the many strengths of both companies." Christopher H. Hopkins, President & CEO, added, "We are very pleased with the Combination and welcome the opportunity to work with all stakeholders."
With respect to the Combination, TD Securities Inc. acted as financial advisor to CanWest Petroleum, and CIBC World Markets Inc. acted as financial advisor to Oilsands Quest. Genuity Capital Markets provided the independent committee of the board of directors of Oilsands Quest with its opinion that the consideration to be received by the shareholders of Oilsands Quest upon completion of the Combination was fair from a financial point of view to the shareholders of Oilsands Quest.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the companies' operations, markets, products and prices, and including other factors discussed in CanWest Petroleum Corporation's various filings with the Securities and Exchange Commission.
CUSIP# 138 748 108
Contact:
Contacts:
The Buick Group
Institutional Investors
Toll Free: 1-877-748-0914
Office: (416) 915-0915
[email protected] Hedlin Lauder Investor Relations Ltd.
Retail Investors
Toll Free: 1-800-299-7823
Office: (403) 232-6251
[email protected] --------------------------------------------------------------------------------
Source: CanWest Petroleum Corporation and Oilsands Quest Inc.
Press Release Source: CanWest Petroleum Corporation and Oilsands Quest Inc.
CanWest Petroleum Announces Purchase of Gross Overriding Royalty
Wednesday August 16, 7:48 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Aug 16, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) announces that it has completed the purchase of the 2.5 percent gross overriding royalty on Oilsands Quest Inc.'s permit lands in Saskatchewan for $20,000,000 Cdn (including the original option payment of $1,250,000). Oilsands Quest is a subsidiary of CanWest Petroleum.
"The purchase of this encumbrance on the Oilsands Quest permit lands was an important strategic step in CanWest Petroleum's long-term development plans for the lands," said T. Murray Wilson, Executive Chairman of CanWest Petroleum. The purchase was funded primarily by the previously announced private placement of CanWest Petroleum common shares.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the companies' operations, markets, products and prices, and including other factors discussed in CanWest Petroleum Corporation's various filings with the Securities and Exchange Commission.
CUSIP# 138 748 108
Contact:
Contacts:
The Buick Group
Institutional Investors
Toll Free: 1-877-748-0914
Office: (416) 915-0915
[email protected] Hedlin Lauder Investor Relations Ltd.
Retail Investors
Toll Free: 1-800-299-7823
Office: (403) 232-6251
[email protected] --------------------------------------------------------------------------------
Source: CanWest Petroleum Corporation and Oilsands Quest Inc.
May be ready to ride north.....
Volume: 2,102,594
Avg Vol (3m): 2,015,310
Technicals
Percentage Gainer
Last Price Quote is:
13.61%above 13-day EMA
-5.26%below 50-day EMA
RS Rating: N/A
Hi
Ready to go up up and away! Closed up .63 at 4.87! up almost 15%!
Lalitha
This one is Snowy's and it looks good too!! Descending channel breakout today and volume is picking up. If it breaks 5.50 (which it should do) 6.50 should be easily reachable. Load up!!
Form 8-K for CANWEST PETROLEUM CORP
--------------------------------------------------------------------------------
21-Aug-2006
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On August 15, 2006, CanWest Petroleum Corporation's wholly owned subsidiary, Township Petroleum Corporation ("Township"), closed a transaction under a Share Purchase Agreement (the "Agreement") with the shareholders ("Shareholders") of Stripper Energy Services Inc. ("Stripper Energy").
Township purchased from the Shareholders all of the issued and outstanding shares of Stripper Energy's common stock for a total purchase price of CND$20,000,000 (US$17,850,768) including the original option payment of CND$1,250,000. Stripper Energy owns the 2.5 percent gross overriding royalty on Oilsands Quest Inc.'s ("OQI") permit lands in Saskatchewan. OQI is a subsidiary of CanWest Petroleum. The result of the transaction is that CanWest Petroleum now owns, through Township, the gross overriding royalty on OQI permit lands. Item 8.01 Other Events.
On August 16, 2006, the Company issued a press release announcing the purchase of the 2.5% gross overriding royalty on OQI's permit lands. The press release is filed as Exhibit 99.1 to this report and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Share Purchase Agreement, effective as of May 31, 2006.
10.2 Assignment Agreement with Township Petroleum Corporation., dated June 6, 2006.
99.1 Press Release dated August 16, 2006.
The stock goes thru some major swings, but this will be the first oil sands stock on a major exchange. - look how the 1st ethanol stock - PEIX did (ADM did ok too), the first solar stocks - STP, etc. It may be a while b4 this one makes any money, but there is no reason why the stock cannot go up
Quote from: ScottishTrader on August 21, 2006, 08:30:32 PM
This one is Snowy's and it looks good too!! Descending channel breakout today and volume is picking up. If it breaks 5.50 (which it should do) 6.50 should be easily reachable. Load up!!
This is Athakinu's pick from August 2005....I have followed since the start of this thread.
Give credit where credit is due. ;)
Hi
Insiders are buying:
http://www.secform4.com/insider/showhistory.php?cik=cwpc
Also Herb Greenberg mentioned it in an article in Jan on Marketwatch:
http://www.marketwatch.com/premium/realityCheck.asp?guid={26D0AD71-3E81-4656-BCF2-4D5420CCE402}&dist=LGstoryquote&siteid=&
Go CWPC!
Lalitha
Changed Ticker Symbol.......
'CWPC.OB' is no longer valid. It has changed to BQI
Now trades on the AMEX
Friday's closing chart.......
Rockin....... 8)
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
18.62%above 13-day MA
39.36%above 50-day MA
BQI baby... ;D
there is another buy signal... lots of volume to the upside got to like it !
The company estimates its resource potential at 10 billion barrels, which is based on, only a small part of the lands for which it has permits. It might be a lot more. The estimate is going to be verified by a third party in September or October.
Technicals
Record Price High................ ;)
Most Actives
Percentage Gainer
Last Price Quote is:
23.67%above 13-day MA
49.68%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
The Dip.......
Buy the dip potato chip ! :D JMHO of course.
Indicators are looking good.
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
0.69%above 13-day MA
15.60%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Oh yeah ;D
Press Release Source: Oilsands Quest Inc.
Oilsands Quest expands land position by winning strategic bids in Saskatchewan land sale
Tuesday August 21, 9:00 am ET
Amex: BQI
CALGARY, Aug. 21 /PRNewswire-FirstCall/ - Oilsands Quest Inc. (Amex: BQI - News) has expanded its land position with the acquisition of five strategically located oil sands exploration licences and one oil shale exploratory permit from the Province of Saskatchewan's land sale of August 13, 2007. The company's successful bids will significantly enhance its oil sands holdings in northwestern Saskatchewan and oil shale holdings in the Pasquia Hills area of east-central Saskatchewan.
The sale included lands offered in the first ever bid process for Crown oil sands and oil shale rights in Saskatchewan. For Oilsands Quest, these are its first oil sands exploration licences and oil shale permits acquired under Saskatchewan's new regulations issued in May 2007. The company's existing oil sands exploration permits were granted under the terms of The Oil Shale Regulations, 1964 and these regulations, subject to minor amendments and inflationary adjustments, will continue to apply to Oilsands Quest's existing permit lands in the Province.
A map showing Oilsands Quest's revised oil sands holdings in Saskatchewan is posted with this news release on the company's web site (www.oilsandsquest.com).
Oil sands exploration licences
Oilsands Quest acquired five of the six blocks of oil sands exploration licences offered in the sale covering a total of 44,484 hectares (109,920 acres) for an aggregate cost of $2.25 million Cdn, plus annual rental of $1.75 per hectare. The licences are for oil sands rights from the surface to the top of the Devonian geologic formation for a term of five years. The blocks of land are located in Townships 90 and 91, Ranges 21 to 26 West of the 3rd Meridian. All of the blocks are located south of the company's existing exploration permits in Saskatchewan; two are on the Alberta border.
Oil shale exploratory permit
Oilsands Quest acquired one of the two oil shale exploratory permits in the Pasquia Hills area offered in the sale, totalling 33,900.11 hectares (83,769 acres), for a total work commitment of $301,568 during the first two years of the permit. Thereafter, the minimum annual expenditure requirement is $2.00 per hectare for the remaining term of the permits plus an annual rental of $0.25 per hectare. Oilsands Quest's bid committed the highest amount of eligible expenditures on the permit lands during the first two years of the five-year permit. The permit is for oil shale rights from the surface to the top of the Precambrian geologic formation and is located in Townships 44 and 45, Ranges 1 to 3 West of the 2nd Meridian.
Total land position
As a result of the August 13 land sale, Oilsands Quest's land holdings in Saskatchewan and Alberta have increased substantially, as summarized below.
-------------------------------------------------------------------------
Saskatchewan Alberta
-------------------------------------------------------------------------
Hectares Acres Hectares Acres
-------------------------------------------------------------------------
Oil Sands
-------------------------------------------------------------------------
Exploration Permits(x) 205,595 508,026 27,136 67,053
-------------------------------------------------------------------------
Exploration Licences(x) 44,483 109,918 - -
-------------------------------------------------------------------------
Lease (Eagles Nest) - - 9,216 22,773
-------------------------------------------------------------------------
Totals 250,078 617,944 36,352 89,826
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Oil Shale
-------------------------------------------------------------------------
Exploration Permits 198,155 489,640 - -
-------------------------------------------------------------------------
(x) The oil sands exploration permits and exploration licences in
Saskatchewan and Alberta are contiguous.
About Oilsands Quest
With the largest contiguous oil sands holdings in Canada, Oilsands Quest Inc. is focused on aggressive exploration and the accelerated development of potential multiple world-scale discoveries. The company is conducting pre-commercialization studies for its first discovery, Axe Lake, leading the development of Saskatchewan's emerging oil sands industry. (www.oilsandsquest.com)
Forward-Looking Information
Except for statements of historical fact relating to the company, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "prospective" and other similar words, or statements that certain events or conditions "may" "will" or "could" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include but are not limited to risks inherent in the oil sands industry, regulatory and economic risks, and risks associated with the company's ability to implement its business plan. Oilsands Quest Inc. undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. The risks and uncertainties set forth above are not exhaustive. Readers should refer to Oilsands Quest's current annual report on Form 10KSB and other document filings, which are available at www.sedar.com and at www.sec.gov for a detailed discussion of these risks and uncertainties and details regarding the location and extent of Oilsands Quest's land holdings.
--------------------------------------------------------------------------------
Source: Oilsands Quest Inc.
Looks to be moving in on a Golden Cross.......
A nice volume day.
52wk Range: 2.40 - 8.90
Volume: 2,165,500
Avg Vol (3m): 688,449
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
6.96%above 13-day MA
22.10%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Oh yes, Nice up day on volume.......
Great volume again on a nice up day! Closing on the 52 week high! ;)
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
10.48%above 13-day MA
26.94%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
BUSINESS SUMMARY
Oilsands Quest, Inc., an exploration stage company, together with its subsidiaries, engages in the exploration and development of oil sands deposits in the provinces of Saskatchewan and Alberta. It owns a 100% interest in the Saskatchewan Oil Shale exploration permits, as well as in the Alberta oil sands exploration permits comprising 67,053 acres. The company also holds interest in the Pasquia Hills Oil Shale prospect; and the Eagles Nest prospect. The company was founded in 1998 as Uranium Power Corporation and changed its name to CanWest Petroleum Corporation in 2004. Further, it changed name to Oilsands Quest, Inc. in 2006. Oilsands Quest is based in Calgary, Canada.
Technical Analysis
BQI has recently formed a Golden Cross which is a very bullish indicator.
wWatch the video of our Winter 2006/07 Exploration Program (http://www.oilsandsquest.com/video/cwpc_video_002.html)
Map showing Oilsands Quest's land position (http://www.oilsandsquest.com/maps/BQI_map_SK_oilsands_20-08-07.pdf)
My Thesis
I believe crude prices will continue to rise due to the growing global economy and the falling value of the dollar. As long as the dollar falls it will take more of those dollars to buy commodities such as crude which raises the cost of crude prices. As the easy sources of crude dry up Oilsands will be the wave of the future.
Fast Moneys and Option Monster co-founder, Pete Najarian bought BQI a couple of days ago and thats what turned me on to BQI. I've never lost money yet based off buying a stock when a golden cross is created. Knock on wood. My only concern is how long it takes BQI to become profitable. While the golden cross should prop the stock up near term I believe some fundamental news will need to come out to keep the bull market in BQI in tact longer term. I'm in at $4.95.
Adding to my watchlist; looks interesting, thanks.
WallStreetnBio,
The thread you started on this pick today, already had one up and running.
Yours has been merged here.
Use the search to find a thread before creating new ones.
That would be much appreciated !
Stochastic is in oversold land....... ;)
The shorts had better cover....which is a great amount !
• Oilsands Quest begins drilling on Saskatchewan oil sands permits, files Form 10-Q
PR Newswire (Tue, Sept 18)
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
0.62%above 13-day MA
8.30%above 50-day MA
Energy Sector Surges....... ;)
Let it pound on the door for a while...if it breaks it....watch her go longs!
The next prairie powerhouse !
Technicals
Record Price High
Most Actives
Record Price Break Out
Percentage Gainer
Last Price Quote is:
10.91%above 13-day MA
18.22%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 12/07/2007
Last Analyst Rating: N/A
Energy was the hottest sector of the day on Wednesday, led by some smaller, less-known companies like Oilsands Quest and Superior Energy Services. As a whole, the industry struck oil, as the Energy Select Sector SPDR (amex: XLE) gained $1.76, or 2.4%, to $76.45 in afternoon trading.
Small cap oil and gas company OilSands Quest proved to be an attractive pick, climbing 44 cents, or 8.8%, to $5.42 on Wednesday. The Calgary, Canada based-company is known for its exploration and development of oil sands deposits in Saskatchewan and Alberta. In August, Oilsands Quest (amex: BQI) obtained five strategically located oil sands exploration licenses in Saskatchewan, bringing the company's total oil sands land holdings to 707,770 acres. The company's stock has gained more than 80% over the past six months.
Superior Energy Services (nyse: SPN), a mid-cap energy company, also made gains on Wednesday. Its stock rose $2.75, or 7.8%, to $37.14 in afternoon trading. The Harvey, La.-based company released its third-quarter earnings on Monday, reporting profits of $75.1 million, or 91 cents per share, compared with $55.2 million, or 68 cents per share in the similar period a year prior.
Superior Energy Services is a provider of oilfield service equipment focusing on the drilling-related needs of oil and gas companies. The company's stock reached its highest selling point ever in July of this year at $40.24, and has gained almost 14% year to date.
Recently, Superior Energy Services suffered numerous tropical storms in the Gulf of Mexico, which caused damage to its rental tools in that region. According to Lehman Brothers analyst James West, the company "posted good third quarter results despite difficult conditions in the Gulf of Mexico during the quarter." West added that "the company's geographic diversification mitigated some of the softness."
The big money energy companies made gains on Wednesday too. Exxon Mobile (nyse: XOM) jumped 85 cents, or .9%, to $91.99. Chevron (nyse: CVX) climbed $1.43, or 1.6%, to $91.51 and Transocean (nyse: RIG) leaped $4.50, or 3.9%, to $119.37.
Looking for a nice ride ? ;D
Yesterday's, Up on a down day... ;D
Showing strength on a nosedive day !!! That strength continued to show into
today... ;)
Royalty boost in Alberta for sands producers diverting new investment to next province (Saskatchewan )where BQI is big.
Big time Canadian investment needs a toronto listing to permit them to invest .Bet they are clamouring for it big time right now.
At present BQI listed AMEX only.
This stock was trading at 0.50 cents in Oct 2004.......
Technicals
Record Price High
Most Actives
Percentage Gainer
Last Price Quote is:
26.49%above 13-day MA
36.45%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 12/07/2007
Last Analyst Rating: N/A
Breakout from the Symmetrical Triangle (continuation Pattern, and follow through with the great looking volume !
Press Release Source: Oilsands Quest Inc.
Oilsands Quest announces reporting of the independent estimate of Discovered Resources at Axe Lake, provides activity update
Monday November 5, 9:00 am ET
Amex: BQI
CALGARY, Nov. 5 /PRNewswire-FirstCall/ - Oilsands Quest Inc. (Amex: BQI - News) announces that it has received reporting of the independent estimate of Discovered Resources for its Axe Lake Discovery in northwest Saskatchewan from McDaniel & Associates Consultants Ltd. McDaniel & Associates has been retained by the company to provide reservoir engineering, reserve and resource reporting and valuation services.
McDaniel & Associates has conducted an independent review and evaluation of Oilsands Quest's Discovered Resources based on data obtained from the results of drilling up to March 31, 2007 (the end of the winter 2006/07 drilling program) and other sources and including the physical examination of cores and geophysical logs. McDaniel & Associates has reported to management the following estimates of Discovered Resources (see definitions section below) for the Axe Lake Discovery:
Discovered Resources of Original Bitumen in Place
- Low Estimate (P-90): 1.117 billion barrels;
- Best Estimate (P-50): 1.344 billion barrels; and,
- High Estimate (P-10): 1.547 billion barrels.
The area of the Discovered Resources estimate within the Axe Lake Discovery covers approximately 36 sections (one township) of Permits PS00208 and PS00210 (100% Oilsands Quest) located in the north half of Township 94 and the south half of Township 95, Ranges 24 and 25 West of the Third Meridian. It is approximately 50 kilometres (30 miles) east of Suncor's Firebag operations.
McDaniel & Associates is a leader in the development of in-situ oil sands evaluation methodology practices. The firm bases its evaluations on a thorough characterization of the bitumen reservoir and integration of its understanding of the technical application of in-situ exploitation. It has been involved in providing reservoir engineering and valuation expertise to the majority of in-situ oil sands projects under development in Western Canada today. Norwest Corporation, which has a long association as Oilsands Quest's independent geological consultant, will continue to provide geologic consulting and field support. The services provided by Norwest and McDaniel & Associates are complementary.
McDaniel & Associates' Discovered Resource estimates described above are based on the definitions and guidelines prepared by the Standing Committee on Reserves Definitions of the Canadian Institute of Mining, Metallurgy and Petroleum (Petroleum Society) as presented in the Canadian Oil and Gas Evaluation Handbook (COGE Handbook). Those standards require that McDaniel & Associates plan and perform a review and evaluation to obtain reasonable assurance as to whether the resource estimate is free of material misstatement. Oilsands Quest notes that the above estimates are of Discovered Resources for the Axe Lake Discovery area only. They are determined through drilling and therefore the estimates are based solely on the drilled area of our Axe Lake Discovery.
The previously reported 10.0 billion barrel management estimate of Discovered and Undiscovered Resources continues to reflect management's current opinion of the Discovered and Undiscovered Resources on Oilsands Quest's lands: 1.5 billion barrels of Discovered Resources on the drilled area of Axe Lake, now supported by McDaniel & Associates independent review and evaluation described above; approximately 1 billion barrels of Undiscovered Resources in the Axe Lake area; and 7.5 billion barrels of Undiscovered Resources which are located elsewhere on Oilsands Quest lands (see definitions section below). There is no certainty that Oilsands Quest will discover any portion of the Undiscovered Resources and, if discovered, it may not be economically viable or technically feasible to produce such resources. McDaniel & Associates has not performed a review or evaluation of the Undiscovered Resources estimate described above.
Activities Update
Activities on Oilsands Quest's contiguous land holdings in Saskatchewan and Alberta are ramping up for an intensive winter 2007/08 program. At the present time, Oilsands Quest is conducting delineation drilling in the Axe Lake Discovery area to provide detailed geological definition for specific reservoir field tests, as well as for pilot and development planning. Four drilling rigs are currently at work. At the peak of drilling operations this winter, the company expects to have a total of eight drilling rigs on its permit lands conducting a balanced program of exploration and delineation drilling. 2-D and 3-D seismic operations are underway on both the Saskatchewan permits and adjacent Alberta permits. Approximately 230 people are currently at work on the permit lands.
Continuing to move toward commercialization of Axe Lake
Oilsands Quest continues advancing its reservoir field test program for the Axe Lake Discovery, which is planned for the first half of 2008, and is subject to regulatory approval. This program is designed to evaluate the reservoir's response to varying temperatures and pressures of steam. These tests will contribute data to the design of the pilot in-situ production program, which is currently planned for start-up in 2009. Oilsands Quest and its technical consultants are evaluating in-situ recovery techniques for the production pilot, with an emphasis on existing techniques that utilize steam and steam with solvents.
Definitions
As defined in the COGE Handbook, "Discovered Resources are those quantities of oil and gas estimated on a given date to be remaining in, plus those quantities already produced from, known accumulations. Discovered Resources are divided into economic and uneconomic categories, with the estimated future recoverable portion classified as reserves and contingent reserves, respectively."
The Discovered Resources estimates described above were determined in accordance with the COGE Handbook using the following mutually exclusive categories:
- Low Estimate: This is considered to be a conservative estimate of the
quantity of bitumen that exists within the accumulation, which under
probabilistic methodology reflects a P90 confidence level.
- Best Estimate: This is considered to be the best estimate of the
quantity of bitumen that exists within the accumulation. Under
probabilistic methodology, this term is a measure of the central
tendency of the uncertainty distribution (most likely/mode,
P50/median, or arithmetic average/mean).
- High Estimate: This is considered to be an optimistic estimate of the
quantity of bitumen that exists within the accumulation, which under
probabilistic methodology reflects a P10 confidence level.
Discovered Resources can be further classified into four sub-categories: cumulative production; reserves; contingent resources; and unrecoverable resources. The Discovered Resources disclosed by Oilsands Quest in its independent Discovered Resource estimate can not at this time be classified into one of these four sub-categories for the following reasons:
1) cumulative production: no amount of production has yet taken place;
2) reserves: Oilsands Quest has not yet determined what in-situ recovery
process may be suitable for this Discovered Resource and consequently an
in-situ recover factor has not been determined to estimate reserves;
3) contingent resources: Oilsands Quest expects that the Discovered
Resources will be economical, but commercial project economics have not
yet been determined; and
4) unrecoverable resource: Oilsands Quest expects that the Discovered
Resources will be recoverable, but a suitable in-situ recovery process
and consequently an in-situ recovery factor has not been determined, yet.
The commercial viability of the Discovered Resources at the Axe Lake
Discovery, or whether currently available commercial recovery processes
will be applicable, cannot be determined without further drilling,
testing and analysis.
As defined in the COGE Handbook, "Undiscovered Resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered."
About Oilsands Quest
Oilsands Quest Inc. is aggressively exploring Canada's largest contiguous oil sands land holding by applying its technical expertise to develop multiple global-scale discoveries. The company (www.oilsandsquest.com) is the originator of Saskatchewan's emerging oil sands industry.
Forward-looking information
Except for statements of historical fact relating to the company, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "prospective" and other similar words, or statements that certain events or conditions "may" "will" or "could" occur. Forward-looking statements such as the Discovered Resource estimate, and Undiscovered Resource estimate, references to Oilsands Quest's drilling program, geophysical programs, reservoir field testing and analysis program, the pilot in-situ production program, and timing of such programs are based on the opinions and estimates of management and the Company's independent evaluators at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include but are not limited to risks inherent in the oil sands industry, regulatory and economic risks, and risks associated with the company's ability to implement its business plan. There are uncertainties inherent in forward-looking information, including factors beyond Oilsands Quest's control, and no assurance can be given that the programs will be completed on time, on budget or at all. In addition, there are numerous uncertainties inherent in estimating Discovered and Undiscovered Resources, including many factors beyond the company's control. In general, estimates of Discovered and Undiscovered Resources are based upon a number of factors and assumptions made as of the date on which the estimates were determined, such as geological, technological and engineering estimates which have inherent uncertainties. Oilsands Quest undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. The risks and uncertainties set forth above are not exhaustive. Readers should refer to Oilsands Quest's current annual report on Form 10-KSB and other document filings, which are available at www.sedar.com and at www.sec.gov for a detailed discussion of these risks and uncertainties and details regarding the location and extent of Oilsands Quest's land holdings.
--------------------------------------------------------------------------------
Source: Oilsands Quest Inc.
Yes!!
It's nice to see it on the move again, decent volume.......
Next resistance @ $5.04...5.55...6.38
Support @ $4.52...4.38...4.15
Recent CandleStick Analysis
Very Bullish
Dec-10-2007 Bullish Engulfing
Dec-05-2007 Bullish Engulfing
Press Release Source: Oilsands Quest Inc.
Oilsands Quest forms technology company, updates Axe Lake activities
Thursday January 10, 9:00 am ET
Amex: BQI
CALGARY, Jan. 10 /CNW/ - Oilsands Quest Inc. (Amex: BQI - News) today announced the formation of a subsidiary company devoted to in-situ oil sands technology assessment and development. The company also provided an update of recovery development and operations activities for its Axe Lake Discovery in northwest Saskatchewan.
Oilsands Quest Technology Inc.
Dr. Erdal Yildirim, who is Oilsands Quest's Executive Vice President, Project Development, has been appointed President of Oilsands Quest Technology Inc, a wholly owned subsidiary of Oilsands Quest Inc.
"The progress in development of oil sands technologies has been a significant driver in the growth, prosperity and environmental sustainability of the oil sands industry" said Dr. Yildirim, "yet it remains a relatively young industry, where a new wave of technological advancements is occurring through improvements to existing technologies, commercialization of emerging technologies and creation of new technologies generated by novel process concepts."
Oilsands Quest Technology has been created to be at the forefront of this technology wave, to maximize the value of its oil sands and oil shale assets and to generate new business opportunities. This will be accomplished by utilizing its in-depth technology expertise for testing and developing technologies most suitable to the characteristics of its natural resources.
Widely recognized within the industry for his leadership, experience and technical expertise, Dr. Yildirim has served in many managerial and executive capacities in the oil sands industry. He was the co-founder and chairman of the National Oil Sands Task Force during the period of 1993 to 1996 and was the co-founder and, since 1994, has been the Managing Director of the Canadian Oil Sands Network for Research and Development (CONRAD).
Axe Lake Recovery development program
Drilling to date within the Axe Lake Discovery area has confirmed three reservoirs for potential development. The three reservoirs, of roughly equal size, contain the majority of Axe Lake's Discovered Resources. These reservoirs are the focus of Oilsands Quest's recovery development and production planning efforts.
In an extensive program of laboratory testing and reservoir simulation studies, Oilsands Quest, its technical consultants and its financial advisors are evaluating existing in-situ recovery techniques. These efforts have provided the initial definition of the field test program to evaluate reservoir response to varying temperatures and pressures of steam and steam with solvents. A program of reservoir testing at three sites within the Axe Lake Discovery is planned for the first half of 2008, subject to regulatory approval. The reservoir tests will provide up to 600 barrels per day of initial bitumen volumes in 2008 that will contribute data to the design of an in-situ test program of up to 10,000 barrels per day that is planned for start-up in 2009, subject to regulatory approval.
Camp operations update
Oilsands Quest is operating two camps in Saskatchewan to support its winter 2008 drilling, seismic and reservoir testing activities. The Base Camp will accommodate up to 200 personnel and is located on the main access road adjacent to the company's 5,000-foot (1500-metre) airstrip in the northeast corner of the Axe Lake Discovery area. The new South Camp will accommodate up to 250 people and is located in Saskatchewan near the Alberta border, 12 miles (19 km) southwest of the Base Camp. It will provide support to operations in both Alberta and Saskatchewan. Drilling has commenced in Alberta on the company's permit lands. During the winter season, manpower is expected to peak at approximately 450 personnel.
About Oilsands Quest Inc.
Oilsands Quest Inc. is aggressively exploring Canada's largest contiguous oil sands land holding by applying its technical expertise to develop multiple potential global-scale discoveries. The company (www.oilsandsquest.com) is the originator of Saskatchewan's emerging oil sands industry.
Forward-looking information
Except for statements of historical fact relating to Oilsands Quest, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "prospective" and other similar words, or statements that certain events or conditions "may", "will", or "could" occur. Forward-looking statements such as references to discovered and undiscovered resources estimates, references to Oilsands Quest's exploration, technical and development programs and future discoveries are based on the opinions and estimates of management and Oilsands Quest's independent evaluators at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, exploration and technical risks inherent in the oil sands industry, regulatory and economic risks, lack of infrastructure in the region in which the company's resources are located and risks associated with Oilsands Quest's ability to implement its business plan. There are uncertainties inherent in forward-looking information, including factors beyond Oilsands Quest's control, and no assurance can be given that the programs will be completed on time, on budget or at all. Oilsands Quest undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. The risks and uncertainties set forth above are not exhaustive. Readers should refer to Oilsands Quest's current annual report on Form 10-KSB and other document filings, which are available at www.sedar.com and at www.sec.gov for a detailed discussion of these risks and uncertainties and details regarding the location and extent of Oilsands Quest's land holdings.
For further information
General inquiries and retail investors, contact Hedlin Lauder Investor Relations Ltd., Toll Free 1-800-299-7823, Office (403) 232-6251, Email
[email protected]Institutional investors, contact BarnesMcInerney Inc., Toll Free 1-866-794-7288, Office (416) 371-0510, Email
[email protected]--------------------------------------------------------------------------------
Source: Oilsands Quest Inc.
A stock approaching greatness.......
Back above the 13-day MA
Recent CandleStick Analysis
Very Bullish
Engulfing Line (Bullish)
An Engulfing Line (Bullish) indicates a possible reversal of the current downtrend to a new uptrend. This pattern is an indication of a financial instrument's SHORT-TERM outlook.
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
5.41%above 13-day MA
-1.39%below 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: 03/13/2008
Last Analyst Rating: N/A
Update...time
Was looking to get back into this, I think there is a lot of upside potential....
What say you, any thoughts ???
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
6.06%above 13-day MA
4.63%above 50-day MA
RS Rating: N/A
Fundamentals
Earnings Expected on Mar 13
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Press Release Source: Oilsands Quest Inc.
Oilsands Quest updates progress on Axe Lake reservoir test program
Friday June 6, 9:00 am ET
Amex: BQI
CALGARY, June 6 /PRNewswire-FirstCall/ - Oilsands Quest Inc. (Amex: BQI - News) announces the resumption of field activities associated with preparations for the reservoir field test program at its Axe Lake Discovery in northwest Saskatchewan. Since the end of the 2007/08 winter drilling program on March 26, 2008, most field work has been suspended due to spring breakup. However, off-site work related to the field test program has continued, and site workers have been returning to the Base Camp since mid-May.
At the present time, 45 construction crew personnel are on site preparing Test Site 1 in order to accommodate construction of the test facilities. Operations for Test Site 1 of the reservoir test program will include power generation, steam generation, water processing and handling, fluid recovery and treatment, and the injection of steam and/or hot water into the reservoir. Equipment for these operations has been sourced from a variety of locations in Canada and the United States. Oilsands Quest's operating and engineering personnel recently traveled to Houston to conduct a factory approval test on the steam generation and water treatment equipment.
To date, six 1,000-barrel heated liquid storage tanks have been received at Test Site 1, and two 1,000-barrel heated liquid storage tanks have been delivered to both Test Sites 2 and 3. The preliminary engineering contracts for the surface facilities for Test Site 2 have been awarded and design work has commenced.
The major equipment for steam generation, water treatment and power generation is expected to arrive at the Test Site 1 over the next four to six weeks; most of this equipment will be installed in all-season building structures. Construction of these facilities is expected to be completed approximately eight weeks after the arrival of the major equipment. At the present time, initial steam injection into the reservoir at Test Site 1 is on schedule to occur in late summer 2008.
By the end of this month, Oilsands Quest expects to resume drilling of the wells required for injection and monitoring at the three reservoir test sites, including the remaining two of the six wells at Test Site 1 and wells at Test Site 2 and 3 as appropriate.
The company's Base Camp, which has in excess of 200 beds, remained operational during spring breakup to accommodate personnel involved with the field test program and ongoing baseline environmental studies.
About Oilsands Quest
Oilsands Quest Inc. (www.oilsandsquest.com) is aggressively exploring Canada's largest holding of contiguous oil sands permits and licences, located in Saskatchewan and Alberta, and developing Saskatchewan's first global-scale oil sands discovery. It is leading the establishment of Saskatchewan's emerging oil sands industry.
Forward-looking information
Except for statements of historical fact relating to Oilsands Quest, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "prospective" and other similar words, or statements that certain events or conditions "may", "will", or "could" occur. Forward-looking statements such as references to Oilsands Quest's reservoir field test program are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, technical risks inherent in construction projects in the oil sands industry, regulatory and economic risks, lack of infrastructure in the region in which the company's resources are located and risks associated with Oilsands Quest's ability to implement its business plan. There are uncertainties inherent in forward-looking information, including factors beyond Oilsands Quest's control, and no assurance can be given that the construction of the facilities and the execution of the test program will be completed on time, on budget or at all. Oilsands Quest undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. The risks and uncertainties set forth above are not exhaustive. Readers should refer to Oilsands Quest's current annual report on Form 10-KSB and other document filings, which are available at www.sedar.com and at www.sec.gov for a detailed discussion of these risks and uncertainties and details regarding the location and extent of Oilsands Quest's land holdings.
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Source: Oilsands Quest Inc.
Chance for a home run with moderate risk.
BreakOut...Symmetrical Triangle (continuation) Pattern.
BQI based its $15 a barrel profit figure on $80 barrel oil.
With world consumption only increasing and supply side at or close to peak oil, we may not see oil under $90 barrel.
There is a refinery being built in South Dakota as well. Now why would they do that? hmmm.....
Technicals
Most Actives
MACD - Bullish
Percentage Gainer
Last Price Quote is:
13.75%above 13-day MA
19.90%above 50-day MA
Was mentioned on Cramer's program this weekend as a spec.
Volume was high last few days, his target $8.34
Buying has been heavy over the past week, while the general market has been in the tank.
Has to clear resistance at old high of $6.50,will clear resistance until $10, so let's make 10 bucks our target. Oil sands!
Technicals
Record Price High
Most Actives
Record Price Break Out
Gap Up
Percentage Gainer
Last Price Quote is:
22.63%above 13-day MA
38.92%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Been a while. Let us see what, if anything is in the making.
Whats the next buy ? or should we wait for a solid break above $1.11
Possible Cup and Handle
52wk Range: 0.59 - 6.95
Volume: 2,244,204
Avg Vol (3m): 1,543,030
Technicals
Percentage Gainer
Last Price Quote is:
21.38%above 13-day MA
26.89%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A