CWPC takes out resistance

[chinaman711]

Just hit 5.55 up .375 as oil stocks are doing well. UCPI .75 up .10 is 1 to watch too imo. SU leading the way again today.

[chinaman711]

CWPC news will be out this week. Hope to find out how much oil cwpc is sitting on. Looking for a move thru 6. ------------------------------------Rescheduling Receipt of Oilsands Quest's Estimate of Bitumen Resources
Thursday June 29, 3:38 pm ET


CALGARY, ALBERTA--(MARKET WIRE)--Jun 29, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) and Oilsands Quest Inc. announce the preliminary estimate of the bitumen resources in place in the area covered by Oilsands Quest's Phase I drilling program in northwest Saskatchewan is now expected some time next week. The report was previously planned for release by the end of June.
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The preliminary management estimate of Original Bitumen In Place ("OBIP") will be based on the independent evaluation of cores from the holes drilled in the Phase I drilling program on lands totaling less than two percent of the total area of Oilsands Quest's permits. The winter 2006 drilling program will consist of at least 150 holes and cover a much larger area.

Christopher H. Hopkins, President & Chief Executive Officer of Oilsands Quest, said, "The evaluation process involved is complex and methodical. Backlogs experienced by the laboratory facilities have resulted in delays in receiving the last of the detailed analyses. Once these results are obtained we will complete our determination of the Original Bitumen In-Place and release the preliminary estimates."

The companies also note that Christopher H. Hopkins, President and Chief Executive Officer of Oilsands Quest, will be speaking at the TD Securities Oil Sands Conference for institutional investors in Calgary on July 6. Mr. Hopkin's presentation for the conference will be posted on both companies' web sites at 2:30 p.m. (Mountain Time); it is anticipated that managements preliminary estimates of resources will be included.

CanWest Petroleum Corporation owns a 59.5 percent interest, on a fully diluted basis, in Oilsands Quest Inc. On June 12, 2006, CanWest Petroleum and Oilsands Quest jointly announced that the companies have entered into an agreement that provides for the combination of the two companies; this agreement is expected to be completed on August 14, 2006

[chinaman711]

Unicorp Announces Its Recent Discovery Tests at 175 Bopd and Provides Business Update
Tuesday June 27, 4:05 pm ET


HOUSTON--(BUSINESS WIRE)--June 27, 2006--Unicorp, Inc. (OTCBB:UCPI - News) announced today that its initial well on its North Edna Prospect in Jefferson Davis Parish, Louisiana has been tested and is now expected to more than double its current revenue. The Lejuene Well #1 is currently being tested into frac tanks and is flowing at a rate of 175 barrels of oil per day. Unicorp anticipates its first oil sales will be in July 2006. Unicorp has a 40% before payout and a 30% after payout working interest in this prospect. This initial well was drilled to a depth of 9,000 feet.

"This discovery is exciting because it will more than double our current revenue and we have three more offset wells to be drilled in this field," stated Arthur Ley, COO of Unicorp. "We are currently in discussion with several parties on securing a long term contract for a drilling rig and this will allow us to accelerate our business plan and greatly improve our cash flow and shareholder value."

Business Update

[chinaman711]

I have a feeling that one of the largest oil discoverys in the world will be announced thur or fri. But i have been known to be early and wrong before : )

[chinaman711]

Oil Sands Boosts Bid for Canada Southern
Friday June 30, 1:23 pm ET
Canadian Oil Sands Boosts Bid for Canada Southern, Topping Petro-Canada


CALGARY, Alberta (AP) -- Canadian Oil Sands Trust boosted its bid for Canada Southern Petroleum Ltd., raising it to US$11.10 per share, or $166 million -- a day after Petro-Canada offered $11 per share, or about $158 million.
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Canada Southern immediately embraced the sweetened bid from Canadian Oil Sands, saying Friday that stockholders should tender their shares to it.

On Thursday, Petro-Canada raised its earlier offer for Canada Southern by nearly 50 percent and warned of a "negative economic burden" to potential development of the Arctic reserves if they were held by another company.

Petro-Canada put Canada Southern in play last month with an unsolicited bid of $7.50 per share. But Canada Southern went looking for other offers, prompting a $9.75 a share bid from Canadian Oil Sands, which Canada Southern endorsed.

Canada Southern has also rejected a third bid by junior Canadian Superior Energy, which proposed 2.75 of its shares plus $2.50 in cash for each share of Canada Southern Petroleum.

In a release Thursday, Canadian Superior suggested that by calculating net asset value per share, its offer was worth more than $13 per share. And it accused Canada Southern's board of breaching its fiduciary obligation to shareholders for not giving its offer proper consideration.

Shares of Canada Southern rose 11 cents to $12.01 in recent trading on the Nasdaq, while Petro-Canada added 66 cents to $46.87 on the New York Stock Exchange. Canadian Superior shares slid 2 cents to $2.03 on the American Stock Exchange.

[chinaman711]

CWPC up a little on the open needs to take out 6.50. Conference is tomorrow and im looking for a little run today. Good luck

[englishman26]

cwpc was up on the open as they apparantly secured some financing they were after but now it's doing a pullback with the rest of the oil crop. Look for buying opportunities here - CLQ actually moving up again now.

[englishman26]

I think this is going back above $8 pretty fast.

[chinaman711]

I think we could see 8 tomorrow. Did you see T B Pickens on cnbc as he was talking SU had a nice run. CVX looking real strong and NGAS is even doing well today. I think the oil stocks could run more as everyone knows they are going to report record earnings.

[chinaman711]

Today is the day for cwpc should be news out around 2:30

[chinaman711]

CWPC getting some volume now and the news will be posted on their web site at 2:30. Good luck

[chinaman711]

Make that 2:30 MT cwpc hod 6.46 looking good

[chinaman711]

The news looks good.---------------------------------------------------

Press Release Source: CanWest Petroleum Corporation


CanWest Petroleum and Oilsands Quest Announce Management's Estimate of Bitumen Resources from Initial Drilling Program
Thursday July 6, 4:35 pm ET


CALGARY, ALBERTA--(MARKET WIRE)--Jul 6, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) and Oilsands Quest Inc. announce management's preliminary estimate of the original bitumen resources in place (OBIP) in an area covered by Oilsands Quest's Phase I drilling program in northwest Saskatchewan. The program consisted of drilling on two blocks on Oilsands Quest's 100-percent-owned Permit PS00210, located in Township 95, Ranges 24 and 25 West of the Third Meridian. It is approximately 50 kilometres (30 miles) east of Suncor's Firebag operations. Oilsands Quest's exploration permits were granted under Saskatchewan's Oil Shale Regulations, 1964, and will expire in 2009 unless converted to leases or further extensions are granted. The preliminary OBIP estimate is 250 million barrels and is based on the west block, a four-section area of Permit PS00210 surrounding 13 drill holes. The east block will require further drilling before management can provide an estimate.
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In making the announcement, Christopher H. Hopkins, President & Chief Executive Officer of Oilsands Quest, said, "We continue to be delighted with the results of our initial drilling program." He also noted that assumptions about the commercial viability of resource potential or whether currently commercial recovery processes will be effective cannot be made at this stage without further drilling. The area covered in the OBIP estimate represents less than one-half of one percent of Oilsands Quest's total permit lands.

The OBIP estimate was based on the evaluation of cores and well log data from holes drilled in the Phase I drilling program. OBIP is the gross volume of bitumen estimated, at a particular time, to be initially contained in a reservoir before any volume has been produced and without regard for the extent to which volumes will be recovered.

In interim drilling results released on June 14, 2006, CanWest Petroleum and Oilsands Quest also noted that eight wells drilled in the best three-section block had an average pay zone of 19 metres (62 feet), with one hole having more than 28 metres (91 feet) of pay. Grades of bitumen saturation by weight for those eight wells were up to 18 percent. Of the 24 wells drilled in the program, 19 intersected the bitumen-bearing McMurray formation, which represents an 80 percent success rate.

Oilsands Quest is now focusing on plans for its winter 2006 drilling program, currently budgeted for $35 million Cdn, which will cover a much larger area in order to begin to quantify and qualify the nature of the bitumen resources. The company has received approval for a 150-well winter 2006 program and will apply for regulatory approval for an additional 100 holes. It has eight core drilling rigs committed to the winter 2006 program. In addition, Oilsands Quest has applied for a summer 2006 exploration program consisting of drilling with one rig, geophysical evaluation and construction of additional infrastructure in preparation for the 2006 winter program. In this area of Saskatchewan, the winter drilling season, which is dependent on weather conditions, is typically from November to April.

CanWest Petroleum Corporation owns a 60.7 percent interest, on a fully diluted basis, in Oilsands Quest Inc. On June 12, 2006, CanWest Petroleum and Oilsands Quest announced that the companies entered into an agreement that provides for the combination of the two companies; this transaction is expected to be completed on August 14, 2006.