Next weeks runner

[chinaman711]

BQI as the have a conference on the 16th and 17th and it usually runs up going into a conference.

[Bman409]

looks like a good entry down here around $4.15

[chinaman711]

BQI nice close today look for more the rest of this week and next week. Good luck

[madcowdisease]

Any thoughts on VRNM?

[chinaman711]

http://network.nationalpost.com/np/blogs...

Upside of 80% see for Oil Sands Quest
Posted: January 07, 2008, 8:14 AM by Jonathan Ratner
Energy, Takeovers
Oil Sands Quest Inc., which explores for and develops oil sands deposits in the provinces of Saskatchewan and Alberta, continues to receive a "top pick - speculative"� rating from Desjardins Securities. Analyst Adam Zive recently reiterated his US$7.50 price target on the shares and said investors should expect “substantial near-term catalysts� in the 2008.

One of these comes from the company's Axe Lake discovery in Saskatchewan. Mr. Zive noted that the project is progressing toward commercialization and negotiations are expected to begin with potential partners.

Oilsands Quest is also pursuing a listing on the Toronto Stock Exchange that could come as soon as the first quarter of 2008, he told clients in a note.

The analyst's price target represents upside of roughly 80% above Friday's closing price of US$4.16. However, he said if commercial production levels are achieved, the stock could provide value of up to US$20 or more per share.

Oilsands Quest has an attractive combination of the largest contiguous oil sands land position, significant resource potential, material near-term catalysts, a more favourable operating environment in Saskatchewan compared with Alberta, M&A potential, and a team of directors and management with a proven track record and 20% ownership of the company, Mr. Zive added.


Jonathan Ratner

[chinaman711]

BQI news out this morning CALGARY, Jan. 8 /PRNewswire-FirstCall/ - Oilsands Quest Inc. (Amex: BQI - News) today announced the resumption of drilling on its Saskatchewan permits and the initiation of drilling on its contiguous Alberta permits. The company also announced its participation in two oil sands conferences being held later this month in London and Calgary.
Participation at upcoming conferences

In January 2008, Oilsands Quest will participate in two private oil sands conferences:


- Christopher H. Hopkins, President and Chief Executive Officer, will
address the TD Newcrest Oil Sands Forum 2008 conference in London,
England, on Monday, January 14.
- Errin Kimball, Vice-President Exploration, will address the Insight
Canadian Oil Sands Summit in Calgary, Alberta, on Wednesday,
January 16.

The conferences are not open to the public; however, Oilsands Quest's presentation will be posted on the company's web site immediately following the January 14 conference (www.oilsandsquest.com).

Saskatchewan program

Activity at Oilsands Quest's Axe Lake Discovery area in northwest Saskatchewan resumed on January 2, 2008, following a 10-day Christmas break. In the winter months ahead, Oilsands Quest's objectives include the following:


- Delineation drilling of the Axe Lake Discovery with four drill rigs
to provide improved certainty of the Discovered Resource, which has
been estimated in an independent evaluation at 1.55 billion barrels
of bitumen (High Estimate).
- Advancement of commercialization of the Axe Lake Discovery with
drilling to further define the reservoir and its overburden
characteristics and to obtain drill core material for large-scale
recovery testing.
- Exploration of undrilled areas of the Axe Lake Discovery, which
Oilsands Quest has internally estimated to contain Undiscovered
Resources of 1.0 billion barrels of bitumen. Future exploration
programs will address Oilsands Quest's estimate of additional
Undiscovered Resources of 3.0 billion barrels of bitumen outside the
Axe Lake Discovery area within Saskatchewan.
- Completion of 3-D seismic programs to provide detailed, high-
resolution imaging of the Axe Lake Discovery for accurate planning
and implementation of an accelerated development program.

Oilsands Quest drilled 87 holes in its Fall 2007 drilling program in the Axe Lake Discovery area. Fall operations also included cutting approximately 500 miles (805 km) of seismic line covering 9.5 square miles (25 sq km). Since January 2006, Oilsands Quest has drilled a total of 261 exploration and delineation holes on its oil sands exploration permits in Saskatchewan.

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. The Undiscovered Resource estimate within the Axe Lake Discovery covers approximately 72 sections in Townships 94 and 95 adjacent to the Discovered Resource locations (100% Oilsands Quest).

[microhedge]

So then obviously, we can expect a really nice PowerPoint here shortly:wink:


Still skiing... should be back next week... the snow just won't stop!!!! I can't leave!!!!!!!!!!!!!!!!!!!!

[Albert0373]

So then obviously, we can expect a really nice PowerPoint here shortly:wink:


Still skiing... should be back next week... the snow just won't stop!!!! I can't leave!!!!!!!!!!!!!!!!!!!!

Me too! Been in Utah for the past week and a half, should be back next week too. Hell of a winter vacation :) Emptying my pockets too quickly though...

[Luc1Grunt]

Ski bum week for the gray beards! Had to spend some of the sell-off day profits.

[microhedge]

Oilsands Quest Tgt Started At $5.75 By TD >BQI

Last update: 1/9/2008 8:33:56 AM

[freakscene]

I spent 5 years in the rockies trying to average 100 days per on the snow. I'd do it all over again, especially the lengthy back country hikes for 1 fresh run.

That should qualify me to say for a post in this thread :)

I'm envious of those of you on good snow. Winters in Appalachia just dont cut it.

[chinaman711]

Added to bqi on todays dip

[microhedge]

News this morning...

Oilsands Quest Inc. (BQI) has formed Oilsands Quest Technology Inc., a subsidiary focused on in-situ oil sands technology assessment and development. The Calgary oil-sands exploration company said Erdal Yildirim, its executive vice-president, Project Development, has been appointed president of the newly formed subsidiary. Yildirim has served in many managerial and executive capacities in the oil-sands

[chinaman711]

BQI testing resistance of 4.40, look for news monday coming from the conference in London. IM looking for 4.80 monday and 5 plus on news. Good luck

[Keventerprises]

BQI testing resistance of 4.40, look for news monday coming from the conference in London. IM looking for 4.80 monday and 5 plus on news. Good luck

Interesting. On VectorVest it looks horrible on technicals, and considers it to be way overvalued (>x2). What good news do you expect?

[chinaman711]

The stock usually runs up into a conference and they have 2 conferences, 1 on monday in London and 1 on the 16th and 17 in Canada. Not looking for any great news but just an update on drilling. The big news will come later this year when they announce a partner. Was just looking for 10% to 25% gain in a little over a week and its already up over 10% from last week. Sell on news unless they announce a partner. Good luck

[chinaman711]

Got the following off a canadian site that i follow-------- AH 16:03 BQI Oilsands Quest: Goodman & Company, Investment Counsel discloses 5.9% stake in SC 13G (4.59 +0.35)


Goodman & Company, Investment Counsel Ltd., One Adelaide Street East, 29th Floor, Toronto, Ontario, M5C 2V9, Canada

Item 4. Ownership.

(a) Amount beneficially owned: 12,060,490 common shares + 500,000 purchase warrants
(b) Percent of class: 5.91% partially diluted
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 12,060,490 common shares + 500,000 purchase warrants
(ii) Shared power to vote or to direct the vote Nil
(iii) Sole power to dispose or to direct the disposition of 12,060,490 common shares + 500,000 purchase warrants
(iv) Shared power to dispose or to direct the disposition of Nil

[Keventerprises]

Got the following off a canadian site that i follow-------- AH 16:03 BQI Oilsands Quest: Goodman & Company, Investment Counsel discloses 5.9% stake in SC 13G (4.59 +0.35)


Goodman & Company, Investment Counsel Ltd., One Adelaide Street East, 29th Floor, Toronto, Ontario, M5C 2V9, Canada

Item 4. Ownership.

(a) Amount beneficially owned: 12,060,490 common shares + 500,000 purchase warrants
(b) Percent of class: 5.91% partially diluted
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 12,060,490 common shares + 500,000 purchase warrants
(ii) Shared power to vote or to direct the vote Nil
(iii) Sole power to dispose or to direct the disposition of 12,060,490 common shares + 500,000 purchase warrants
(iv) Shared power to dispose or to direct the disposition of Nil

Thanks, I'm in. I believe microhedge liked this one, you in micro? Please keep us posted on current news.

[chinaman711]

Coverage Initiated: BQI (Oil Sands Quest)- Strong Buy: Target $15.00
Submitted by thefederalreservews on Mon, 2008-01-14 04:49.
12 month Price Target: $15.00

It is becoming apparent that there will be a massive short squeeze in the shares of Oil Sands Quest. As the Dow Jones Industrial Average lost nearly 300 points on Friday, BQI rallied. Technically, the charts are looking very bullish, as more and more short sellers continue to cover their positions. We expect a price target of 15 dollars to be reached in 2008.

Quick points:
BQI = 10 billion barrels of oil.
BQI = is the world largest oil sand trillion in res.

The Axe Lake bitumen resource is characterized by thick, continuous, coarse-grained oil sands in reservoirs at depths from 185 to 205 metres. Studies to date suggest that grain size distribution of the coarse sands, which ranges from smaller particles at the top of the pay zone to larger particles at the bottom, will enhance drainage, thereby improving production and economics. The clay-rich layer overlying the reservoir is expected to provide an effective seal for anticipated recovery processes.

On a fully-diluted basis the company has currently 250 million shares, of which management owns 19%. If we take the acquisition price of the former privately held North American Oil Sands Company paid by Statoil on April 27th this year at $0.91 per barrel recoverable reserves and apply it to BQI's 10 billion of estimated reserves (assuming 50% is recoverable), we get an estimated market value of $4.55 billion for Oilsands Quest, or $18 per fully-diluted share. Beside the favorable valuation the company has top notch management with a track record of building an oilsands company (CEO, Chris Hopkins founded Synenco [TSX: SYN]).

[chinaman711]

bqi PRESENTION posted on their web site--http://www.oilsandsquest.com/investor_information/presentations/LondonConferenceJan1408.pdf

[microhedge]

Keventerprises said:

Thanks, I'm in. I believe microhedge liked this one, you in micro? Please keep us posted on current news

I am most definitely in!! Chinaman convinced me to board this boat last summer!

Have been able to average down nicely the last couple of months... we're all waiting for the partnership, that's when things will begin to pay off!

:party:

[chinaman711]

SEC: OIL SANDS RESEVES TO RECEIVE HIGHER VALUATIONS 15-Jan-08 06:30 pm <>http://ad.ca.doubleclick.net/click%3Bh=...

SEC takes fresh look at oil sands reserves



SHAWN MCCARTHY

Globe and Mail Update

January 14, 2008 at 10:39 PM EST

The U.S. Securities and Exchange Commission is looking at putting Alberta's oil sands reserves on the same footing as conventional crude oil, a move that could boost the value of the enormous resource.

The SEC will be reviewing rules – put in place nearly three decades ago when the oil sands were considered uneconomic – that prohibit companies from booking their bitumen resources as “proven crude reserves.”

Investors and industry analysts rely heavily on SEC documents for unvarnished reporting on corporate assets and potential. The changes being considered by the SEC would allow for “an apples-to-apples comparison” of North American oil companies and remove the uncertainty from oil sands reserves, said Justin Bouchard, a Calgary-based analyst at Raymond James Financial Inc.

“In Calgary, there is a group of concerned producers that has been trying to get the rules changed for quite a while,” Mr. Bouchard said. “It's pretty tough to get the word out [on your reserve base] if you can't recognize it on the books.”

While the U.S. Department of Energy recognized the oil sands proven reserves nearly five years ago, the U.S. securities regulator has taken a considerably more cautious approach. It requires oil companies, including such Canadian giants as EnCana Corp., Suncor Energy Inc. and Petro-Canada, to list their oil sands reserves as bitumen, and to book that resource based on a Dec. 31 price, when demand is typically at its lowest and the price is at its cheapest.

The SEC has faced widespread criticism for its reporting rules, which critics said not only distort the view of oil sands companies, but provide a misleading picture of North American oil resources.

Kevin Cramer, a New York-based lawyer with Osler Hoskin & Harcourt LLP who works with Canadian oil companies, said Monday that the SEC “has acknowledged that its current practices may not provide investors with the most useful picture of oil and gas reserves public companies hold.”

Mr. Cramer said the regulator, which issued notice of its review last month, has made no decisions on how it will proceed, but that it clearly wants to ensure the productive potential of oil sands resources is reflected in companies' filings.

Pierre Alvarez, president of the Canadian Association of Petroleum Producers, has urged the SEC to reconsider the method by which companies can book bitumen resources, and particularly the restrictive pricing formula.

“We don't think that picking a price point in the middle of winter accurately reflects the value of the resources,” Mr. Alvarez said. He added that several companies were forced to take writedowns on their reserves in 2005 when bitumen prices hit a low point precisely on Dec. 31.

Reserves can only be booked if they can be produced at the prevailing price.

“We think what this change would do would be to more accurately reflect the reserve potential of this huge, huge resource out here,” Mr. Alvarez said.

EnCana spokesman Alan Boras said the company welcomes the review. EnCana was one company that was required in 2005 to remove 363 million barrels from its reserves calculations for the year, as a result of the one-day dip in bitumen prices.

Three years ago, the influential Cambridge Energy Research Associates issued a report saying the rules were “in urgent need of modernization.”

“It is increasingly at odds with the realities of the oil and gas industry in the 21st century and, as a result, it does not properly inform investors about values and prospects for companies,” the CERA study said.

[chinaman711]

Wednesday, January 16, 2008


CREDIT: Melina Mara/Washington Post
Oilsands consist of sand, water and a semi-solid petroleum called bitumen, which smells like roofing tar and is as thick and sticky as molasses.

CALGARY - International industry giants vowed Wednesday to make strides in the oilsands and not let rising expenses or provincial royalties trip up aggressive development plans.

In their first public appearances since Premier Ed Stelmach increased royalties last fall, France's Total, Norway's Statoil and U.S.-based Marathon Oil said their Fort McMurray bitumen-belt projects are continuing without pause.

Total E&P Canada aims to have more than 1,500 employees producing 250,000 barrels per day in about 2015 by spending $10 billion to $15 billion on new mines and an Edmonton-area upgrader, company president Michael Borrell said.

StatoilHydro Canada Ltd. plans to hit 200,000 barrels of bitumen a day, made into premium synthetic oil at a five-square-kilometre Fort Saskatchewan upgrader by 2020, Norwegian chief executive officer Geir Jossang told an oilsands conference held by Insight Information.

Construction has begun in Detroit on a $1.9-billion refinery conversion to bitumen, Marathon vice-president Gary Heminger said. The firm plans to more than quadruple production acquired in a $6.2-billion takeover of Western Oil Sands last year by 2020 to 130,000 barrels daily from a current 31,000 barrels daily, he added.

Alberta's oilsands are still among the world's most expensive supply sources but cost increases have not been out of step with international trends, Borrell said in an interview.

Total expects the Energy Resources Conservation Board to call public hearings on the oil firm's plans for the first half of this year, and is seeking approval in time for a final decision on construction in 2009, he said.

Project costs and schedules will be reviewed as detailed engineering is completed and regulatory approvals are received, the French and Norwegian companies said.

The giant scale of Alberta resources and their location next to the U.S. - the world's thirstiest oil market - are the powerful forces driving oilsands development, while issues raised by royalties and taxes are cases of "tweaking numbers" by comparison, Heminger said.

Marathon is working on persuading the province to adapt demands for job- and revenue-creating resource processing enough to accept its plans for growing raw bitumen exports to upgrader plants south of the border, he added.

"We have a refining solution," he told reporters. Adding a bitumen upgrader to an established U.S. refinery can be done for as little as one-third the cost of building a new Alberta plant from scratch, Heminger said.

Unrestricted traffic in bitumen will increase prices and royalties fetched by Alberta production by eliminating supply gluts which cause discounts as deep as 50 per cent off benchmark international oil grades, he predicted.

Total and StatoilHydro, meanwhile, are preparing for carbon taxes or other restrictions on greenhouse-gas emissions by incorporating ways to cut them into engineering designs for their plants, Borrell and Jossang said.

Construction of carbon-dioxide collection and storage equipment will be carried out when federal and provincial environmental policies make the additions practical and worthwhile, the executives said.

"This is something we cannot do alone," Jossang said. Borrell indicated Total agrees and has joined an industry consortium proposing to build a pipeline network for carbon-dioxide collection and disposal from all plants with government help.

"Any reasonable outlook still sees very substantial growth in this industry," said Strategy West president Bob Dunbar, a veteran of more than 40 years in oilsands work with companies and the provincial government.

His firm currently predicts oilsands expenditures averaging $13 billion a year through 2020, to about triple total bitumen production at nearly four million barrels per day. About two-thirds of the output is expected to be upgraded into premium synthetic oil by Alberta plants.

Oilsands production would multiply nearly six-fold to six million barrels a day with annual average spending of $23 billion if all currently known projects were built on their announced schedules, Dunbar said.

The rush will be held down to a more reasonable pace by rising costs and shortages of materials and workers, Dunbar said.

"There's no indication yet these costs have started to plateau (stop rising)," he said, reciting cases of plant construction expenses tripling to more than $100,000 barrels per day of production capacity.

[Damon]

As of today, I'm down more than 25% on my shares of BQI. This stock is looking more and more like a painful lesson every day. http://www.onlinetradersforum.com/images/icons/icon9.gif

[Keventerprises]

As of today, I'm down more than 25% on my shares of BQI. This stock is looking more and more like a painful lesson every day. http://www.onlinetradersforum.com/images/icons/icon9.gif

Energy and alternative energy seem to be as volatile as pharmaceuticals, females and financials. You can go from zero to hero and vice-versa real fast on short term news that either makes them or breaks them. I support alternative energy alot, but I can't bring myself to buy SOLF, SPWR or DPDW.

[Jordan]

What was the bad news that brought the price down so much?

[aiki14]

What was the bad news that brought the price down so much?
The market opened
:confused:

[reef]

Thats ok, you all are in for a big run. I just shorted it in next weeks contest. If my recent picks are an indication of being on the opposite of the trade then your all in for a treat.

[Keventerprises]

Thats ok, you all are in for a big run. I just shorted it in next weeks contest. If my recent picks are an indication of being on the opposite of the trade then your all in for a treat.

I appreciate the spirit of your sacrifice! I think you are right though in shorting it for now, I was considering doing that too. I don't want to be the bearer of bad news, but I don't feel it has reached it's bottom yet with so many negatives on technicals. For the sake of others, I hope I am wrong too.

[Keventerprises]

What was the bad news that brought the price down so much?

VectorVest has them as still overvalued with a current assessed value of nearly half of their cost per share, and that is after the recent decline bringing it down...and it's way below it's stop price. I think Reef did the right thing by shorting it this coming week. I'm thinking maybe it would be wise to buy April 19 $2.50 Puts for $.20 each or less for insurance just in case, because the fall is not over for BQI. That's $20.00 per hundred (before any commissions), so, if it is likely to go down next week by 7%, then $.20 calls should be worth over $1.00, so maybe a few bucks now hedges then at 400%, minus commissions, but you have to watch the spread on options between bid and ask, because you start off in the hole between the bid and the ask!!! $200.00 should hedge your long position. But be careful, the difference between ask and bid is extremely large now, so you start off behind by 75%. That will change and go down as there are more bidders, and at $.20 per share that sounds reasonable, but watch out for the Ask/Bid Spread! Buy at < $.20!

My thinking is if it gets anywhere close to a $3.00 share price, the $.20 option will be worth well over $1.00, but the bid price will be lower, and if not it cost $.20 per share to protect a 7-10% loss.

So will it go down more than 7-10% before April 19? I believe it will. IMHO.

[wallstreetsedge]

what happens is in a volatile market, bqi is no longer marginable so you start dumping it to buy marginable stocks with low p/e's trading above $20... preferably stocks above $80 so you get more volatility and movement

thats why you see stocks under $5 even close to being $5 are making 5% moves every other day rather than 1% moves.

[Keventerprises]

VectorVest has them as still overvalued with a current assessed value of nearly half of their cost per share, and that is after the recent decline bringing it down...and it's way below it's stop price. I think Reef did the right thing by shorting it this coming week. I'm thinking maybe it would be wise to buy April 19 $2.50 Puts for $.20 each or less for insurance just in case, because the fall is not over for BQI. That's $20.00 per hundred (before any commissions), so, if it is likely to go down next week by 7%, then $.20 calls should be worth over $1.00, so maybe a few bucks now hedges then at 400%, minus commissions, but you have to watch the spread on options between bid and ask, because you start off in the hole between the bid and the ask!!! $200.00 should hedge your long position. But be careful, the difference between ask and bid is extremely large now, so you start off behind by 75%. That will change and go down as there are more bidders, and at $.20 per share that sounds reasonable, but watch out for the Ask/Bid Spread! Buy at < $.20!

My thinking is if it gets anywhere close to a $3.00 share price, the $.20 option will be worth well over $1.00, but the bid price will be lower, and if not it cost $.20 per share to protect a 7-10% loss.

So will it go down more than 7-10% before April 19? I believe it will. IMHO.

I'm just thinking out loud trying to learn about using options as insurance. Since there seems to be alot of support for this stock long term, the Feb 16 $2.50 puts might be a better bet to hedge long positions. They're only $.10 for a month of insurance, and the put option value will go up if the stock goes down. Any thoughts or experience on this??