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RealYellowbeard's Take for August -
Since January of 2006, I have been a shareholder in
Oilsands Quest (AMEX:BQI), which was previously known as
Canwest Petroleum (OTC.BB:CWPC).
I have actively participated in investment discussion forums since I bought in.
After a while, people began asking me for my opinion on the status of the company, so from time to time, I published my “take” of where I felt the stock had been, and where I thought it was going.
Over time, I have received many kind comments on these postings from investors of all sorts.
I hope to continue to post updated “takes”, especially for those new investors who would like the benefit of one man's due diligence and opinion.
Now, you should bear in mind that my ramblings are only that… my opinion.
But having said that, you should know that I try my best to neither pump nor bash… I try to call the situation as honestly I can.
ANCIENT HISTORY:
Back in 1974, Shell Clearwater drilled a number of test wells in northwestern Saskatchewan, and found bitumen in an unknown number of them. They did keep cores from a pair of bitumen bearing wells in T94R24W3 and T94R25W3. That’s Township 94, Range 24-25 West 3 for those who haven’t read many plat maps. This defines two 6 mile by 6 mile “townships” on the Saskatchewan-Alberta border. Gulf Canada came back into the area two years later, and drilled 6 more holes right in this same area. Now, at this time, bitumen that was 650 feet down was not good for anything. There was no economical way to extract it, and no real need to… so they filed away the information, stored those cores, and eventually sold off the land. The land passed from hand to hand, but was essentially left alone for many years.
LESS ANCIENT HISTORY:
Now, fast forward to 2002… when an ex-Uranium/Oil Shale venture named Uranium Power Corporation was bouncing from project to project, looking essentially for anything that would make them money. I won’t go so far as to call it a pump-and-dump, but they knew much more about corporate option plans and issuing stock than they did about oil exploration. They were very clever at hype, good at farming out projects, acquiring new land, and then promoting their holdings. These holdings eventually included the Pasquia Hill Oil Shale land, and (in 2004) a 1.4 million acre area of leases called the Firebag East permit area. They hired a Ph.D. geologist with experience in the area, and found that there might be a viable oilsand project in this area, as discovered by Shell and Gulf some 20 years before. At this point, they formed a subsidiary company, and brought in several people to run it, including Christopher Hopkins, who had been a part of a successful Synenco oilsands project, and who had a great deal of experience in this sort of project. One of their first orders of business (at this point) was to change the name from Uranium Power Corporation to Canwest Petroleum Corporation, and increase the amount of capitalization from 40 million shares to 100 million shares… because good news required more shares. (grin)
As time went on, it became evident to those of us observing, that Canwest Petroleum was still better at hyping and handing out free shares and options than developing an exploration program. Despite this, the OQI team was able to prove a discovered bitumen resource existed on the land. The friction between the OQI team and Canwest management increased as time went on, and eventually, a deal was struck, and the old management was bought out, and new management was brought in. The name of Canwest was dropped, and the corporation became Oilsands Quest, Inc. (BQI). By this time, despite all the fundamental promise that the BQI permit lands had, many major institutional investors had already formed their opinions of Canwest. In addition, the terms of the combination created a number of shares that some felt was excessive. These “exchangable shares” acted as a negative influence over the next several months, and gave the market a reason to pass over BQI.
RECENT HISTORY:
Since the combination, the company was listed on the American Stock Exchange (AMEX), and was recently added to the Russell 3000. The first year’s drilling program of 24 holes became 174 holes by the end of the second year, with larger and larger amounts of bitumen being discovered. More adjacent leases in neighboring Alberta were added, and the company continues to try to prove resources on their lands. The new management team has started to win the respect of the market, and remove any doubts that had carried over from the old Canwest days.
MY PREVIOUS TAKE:
In June, I listed a number of upcoming events which had a good chance of having a significant effect on the price of BQI. Several of these events have now come to pass. They were: inclusion in the Russell 3000, publication of new SK lease regulations, and the announcement of final relinquishment. While each of these were positive news, I think the Russell 3000 inclusion had the most dramatic effect. It seemed to get BQI back on the institutional radar, which when coupled with the surprise announcement of 10 billion barrels of resource potential, has kicked off this most recent rally (which I did not see coming, by the way). I genuinely felt that BQI was undervalued, and figured it was only a matter of time before the rest of the market realized this… but I’m always surprised at how quickly this stock can move up. This is twice in the last 15 months when I’ve seen gains of more than 20% in a single day on this stock. That is the reason why I buy and hold, rather than trying to trade this stock.
In June, I had also listed a number of events which have not yet occurred. This time around, I will describe them in a little better detail, so you can judge how big of a deal they are (or not).
Application for listing on the Toronto Stock Exchange (TSX)
- This should provide for another “hey, here we are” moment among institutional investors. In addition, there may be funds which only acquire stocks which are listed on the TSX. I think the media and market exposure will be much more valuable than the actual listing.
The new permits for sale in Saskatchewan, south of BQI.
- There are about five townships for sale, which are just south of BQI’s core holdings in Firebag East (which includes the Axe Lake Discovery). The sale will be final on August 18th. BQI was very open recently, in showing the new seismic isopach maps for much of their land, but they were pretty quiet about their southern border. I think that this points towards them making a move on this land. By not releasing any seismic data, no other company will be willing to risk millions of dollars to acquire permits on this land. There have been a couple of land merchants who have acquired the permits in Alberta, which are south of BQI’s Alberta permits, but the Saskatchewan land has never been available before. If BQI bids for these lands, they could hold another couple billion barrels. At recent land sale prices, this would be a cost of pennies on the barrel, which would be a large coup for BQI. If BQI hadn’t expressed an interest, then why else would they be posted?
The new Exchangable Shares which free up in August
- In February and March, there was a great deal of talk on the message boards about how the last batch of exchangable shares from the Canwest/BQI combination sent the PPS into the dumper. However, we won’t know the real story until the most recent annual report comes out at the end of July. It seems as if there is more to the story there. We now know that one of the major institutional investors (Goodman) sold off millions of shares during this time, and that had nothing at all to do with exchangable shares. I think the effect of the exchangable shares are more minimal than they have been given credit for, although I’m sure the bashers and shorters will try to scare up some business with them again. I suppose it doesn’t matter what the true effect of the exchangable shares is… but it is the perceived effect which will drive selling. One big difference is that these exchangable shares belong to Chris Hopkins himself, and he may not be so quick to exchange them… especially if they have a negative impact on PPS, during a time when further corporate funding might be required.
Released results from summer seismic testing and drill program
- It seems like every time BQI submits a plan for a “summer” drill program, the Saskatchewan government delays it until winter. I don’t know why this is the case. With the approval delay, I doubt we will see anything at all from this. Even if they get approved, they may choose to keep quiet about any summer results because of the new southern permits for sale.
Independent OBIP Norwest assessment for Phase I and II
- This is probably the biggest single PPS driver out there. Currently, BQI has a pair of estimates out there. They have stated that their Axe Lake Discovery has between 1.25 billion and 1.50 billion barrels of Original-Bitumen-In-Place (OBIP). This is considered their management’s P10 estimate, based on actual drilling results. They have also made a second estimate, which seems to use state-of-the-art seismic data to forecast the bitumen on areas that have not yet been drilled. I’m taking this as a P10 number, as well, although a P10 without actual holes drilled is not “old school” thinking. BQI obviously has studied the seismic results to see how well the seismic matches the actual drill results. They wouldn’t have released the “10 billion” resource potential estimate without a solid grasp of the limitations of this new seismic method, as it compares to actual drilling results on their land, so I’m comfortable with the idea of that being a P10 equivalent.
For those of you new to these terms, P10 is possible reserves… which in general terms says that there is a 10% chance that you could extract that much bitumen. P50 is probable reserves… or a 50% chance that you could extract that amount. P90 is proven reserves, and that is the 90% chance that you could extract that much bitumen. An important thing to remember is that a P50 estimate is NOT automatically “half the P10 number”, but could be larger or smaller than that based on the continuity of the resource.
Let me explain… let’s say that you had a perfect reservoir with exactly the same depth, thickness, porosity, and amount of bitumen. No clay or shale lenses (barriers), no erosion zones… nothing but a single bitumen layer of even thickness. (It’ll never happen, but it’s fun to pretend.) If you drilled four holes, in a square, 800 meters apart, you could extrapolate the results of each hole out to 1000 meters, and declare a P10 estimate. Next, you could drill five more holes (halfway between each), and get a 400 meter grid, with 500 meter radii. You could estimate a P50 number from this, and since the reservoir is perfect, the number for P50 would be the same as the P10. Finally, you could drill holes 200 meters apart, and extrapolate each hole to 250 meters. Once again, the perfect reservoir would have no loss, and the P90 and P10 would be the exact same value, because there is no loss “between the holes”.
Now, in real life, we have all kinds of varying bitumen thicknesses, erosion zones, lenses, areas of top or bottom water, and other such realities. These are all a part of the business. In the same way that a digital picture with 4 pixels paint a very general average of what you’re looking at, a 9 pixel image gets you a clearer idea… and a 25 pixel image might show enough detail to get you to identify it. The more areas of loss that are seen, the bigger the difference will be between P10 and P90… but it is NOT automatically one-half or one-ninth of the original P10.
According to company reports, BQI has no lenses, and no top or bottom water. The erosion channels are the only detriment to recovery and estimates. An earlier supposition that a lack of caprock would be an issue has been laid to rest. A thick layer of clay acts as a seal above the reservoir. This has effectively kept the water out. In addition, the porosity and permeability of the reservoir don’t require high pressure to force out the bitumen, so the lack of cap rock is not an issue. Remember, there’s still 650 feet of rocks and dirt packed on top of the reservoir… that’s as thick as a 65 story building. That would resist a little pressure anyways. For this reason, I’m still very optimistic that the P50 or P90 numbers will be higher than some anticipate, and should provide a boost to the PPS (when announced). I think the independent lab (Norwest) may even choose to announce a P50 or P90 for specific areas of Axe Lake in September. I STILL think that the true P10 OBIP estimates for Axe Lake will come in between 1.6B and 1.8B barrels OBIP… and the total P10 estimate from all 174 holes should still be in the 2.3B to 2.6B ballpark. Whether Norwest chooses to validate the new seismic technology as a legitimate estimation tool remains to be seen. Don’t discount the possibility that technology might be improving in this area, and modern state-of-the-art seismic might soon be seen as valid as delineation drilling by everyone in the industry.
SEC redefining reserves per Royal Dutch Shell's request
- The SEC currently allows bitumen extractable using in-situ methods (such as SAGD and THAI) to count against a company’s reserves. However, any bitumen which is extractable by strip mining cannot be counted towards a company’s reserves. Oil companies understand this difference, but investors (seemingly) do not. Once the SEC follows through on a change to this policy, there will be lots of articles in the media crowing about how the Oilsands are now countable against reserves. This media flurry will help BQI, even though the ruling won’t really affect BQI’s attractiveness to any JV.
Findings from the pilot program - Further land acquisitions - JV announcements - Permits Fulfilled and Leases Obtained
- These events are all too far out on the timeline to be covered in much detail. I think most of their land acquisition interests will be complete after the August 18th land sale is done, and I’ve now got information that it is in the better interest of BQI and any future JVs that the permits be kept as long as possible, before being converted to leases… so look to the final expiration date of the Firebag East permits before conversion occurs.
Way back in April, I pulled out the crystal ball, and made some forecasts:
FORECAST #1: More Land
I previously said, “I am convinced there will be more land permits or leases acquired in the next year.”
This became more public with the announcement of the SK lease and permit sale. The only question is whether BQI will bid... and will they bid successfully. I believe they are interested, and will bid on at least some of the property. After this, I think they will not pursue further lands. They don’t seem to be interested in T96R01W4 in Alberta. It is obvious in their last map that they did lots of drilling along the border of T96, and they must have come up pretty empty there. If they HAD found lots of bitumen, I’m sure the Alberta government would already have that township posted.
FORECAST #2: Expansion of the Seismic Program.
I previously said, “I expect they will be expanding their seismic program (if approved), and using it to evaluate what land must be given back to the government to complete their final 40% cut.” And “ I expect the cut will be announced sometime in 2007.”
Both turned out to be right on the money. They not only used seismic to determine what land to relinquish, but they also used the data to create that 10 billion barrel resource estimate… and the final relinquishment has now taken place. They don’t have to turn in any more land to the SK government.
FORECAST #3: Extraction Method
As I said in June, BQI management has already shown the way forward. They said right away that low pressure SAGD with the use of solvents is a strong path worth investigation. Early lab results showed recoverability of 54% to 83% using simple low-pressure wet steam… and they haven’t even USED solvents yet. Solvents are a very interesting method to reduce the requirement for steam, and reduces the cost of extraction. You need solvents to thin the bitumen in order to get it through a pipeline, so why not introduce them into the reservoir? You reduce energy costs, and emissions. Solvents work well when there is good permeability, and I am told that 5 Darcies is about twice as good as normal. The coarse grained sand with low fines you keep hearing about means that the passages for the bitumen to leave the rock are very open. This means that solvents and steam should yield even better recoverable rates. As a test, you could even try pure solvent without steam… or heated solvent. Porosity is the other measure of reservoir quality, and that has been shown in the past to also be excellent. I like this direction. I know we’ve discussed THAI on this board before, but I don’t think this is a good fit for this situation. THAI would use much higher heating temperatures and pressures, which could adversely affect the clay cap. I’m very optimistic about the LP-SAGD/Solvent approach.
FORECAST #4: Share Price
I’ll be honest… in 2006, I got lucky with some of my short term price direction picks… but the market is a fickle beast. I did not see the announcement of 10 billion barrels creating such a firestorm of interest, and if I had been playing short term trading games, I think I would have lost out big. Thankfully, I know my own limitations, and have never sold a single share of BQI, but have only averaged down, and accumulated more. I’ve heard that you should never add to a losing position, but when the company has SO MUCH going for it, and the fundamentals are SO solid, it’s tough for me to ignore a value.
…but I did say this: “When this stock moves, however, it moves up quickly… very quickly. From January 2006 to March of 2007, a move of 30% in a day or two or three is no strange occurance.” …which is exactly what we saw over the last two weeks.
…and: “I hope to see a couple more analyst’s reports (and since the last media day included analysts, this seems to have been anticipated). More analyst’s reports would also get this on the institutional radar, and that’s where the large scale PPS shifts could come from.”
Blackmont is the second analyst to provide coverage of BQI. I’m glad to see this, and expect still more reports will be coming out. These sort of reports do get generated when enough investors are asking their investment firms about a given company. As word of BQI gets out, I would expect exponential coverage and buzz to be generated.
I said it in June, and I’ll repeat it. I am still convinced that this is one of the best long-term prospects in the market. Every time that management releases news, it is in line with the assumptions that I have made. I do not see any long term risks which could cause a major loss from this point out, as long as the fundamentals remain as they are. I still would recommend this stock to anyone as a buy-and-hold. My long-term price target has always been in double figures, and I see no reason why that won’t happen. The timeframe is the only question mark… if management wants to wait in order to reach even higher prices in the long run, I’ll wait with them. They’ve got a lot more “skin in the game” than I do anyway. I can wait.
NEW THOUGHTS:
1) When will BQI start to look into getting an access road to link them up to Fort McMurray or Fort McKay in Alberta?
It’s only about 26 miles from the edge of their Alberta permits to the Fort McMurray airport. They could link up with existing roads fairly easily, and this might make a number of things a little easier. The recent blockade by the Clearwater River Dene Nation (CRDN) might cause management to consider a secondary land link to civilization. On the other hand, if they choose to work WITH the Dene on this, a new road between LaLoche and Fort McMurray could be built. If you then add a bridge across the Clearwater River, you could cut many miles off the BQI supply route. This way, both the Dene and BQI would have the advantage of a shorter route to the largest population center in the region. Saskatchewan would probably be very supportive of a link to this area, as it would foster development. I’m not sure what Alberta’s take on this would be.
2) Joint venture timing
Just how far does BQI have to go before they would get a fair value from a JV? A pilot plant is the next obvious step, once the labwork confirms that low pressure steam and solvents will allow higher extraction rates than anything that has been seen in Alberta. The quality of the reservoir, and the high saturations should speak for themselves… so I wonder just how far BQI will go into this process before they get “an offer they just can’t refuse”. While they have said publicly that they are not currently in discussions, you KNOW that doesn’t prevent an interested party from sending them an initial offer. If one really knocks their socks off, I’m willing to bet they’d at least bring them in and talk… whether the pilot plant is 100% on line or not. Venezuela’s recent shakeup has left a number of majors looking for more heavy oil reserves. I think there are several who would like a piece of BQI, once things are far enough along.
3) Next year’s Drilling Program
It is easy to forget about right now… but BQI must be currently filing their proposals with Alberta and Saskatchewan to let them know where they would like to drill next year. Since Bertram Drilling owns stock in BQI, I’m hoping they will be just as open as last year to provide as many rigs as BQI requires. Now that BQI has the facilities to handle eight rigs right off the bat, I’m assuming they would ask for at least that many. If they went out in pairs, they could have four teams… one for each of the locations (A,B,C, and D), as defined in BQI’s most recent presentation. Using last year’s actual drilling rates as a model, they could get 28 holes drilled per rig in a given season. Adding 56 holes up in T97-T98 (by the north camp) to the 15 holes they already have there should give them enough for a solid P50 estimate, and a new “discovery”. 56 new holes in Alberta, or in areas south of Axe Lake would do the same for those areas. If they win the bids for the new townships south of their current land, they’ll probably make extensive use of seismic, early on… but I wouldn’t be surprised if they broke loose a pair of rigs late in the season to look around down there, as well.
FOB-Must ReadYellowbeard''s Take for August
Posted By: ujaack at another BQI forum
thanks ujaack -
for another BQI good message -
Cheers
welcome to BQI -
http://tinyurl.com/34wqcd
http://tinyurl.com/2gpmvq
Sentiment : Strong Buy
.
BQI OIL RES. TRILLION DOLLAR - black Gold MONSTER! -
if you have any doubts follow me:
A. MR HOPKINS spoke recently about 50-60billion barrels
potential resource and 2 days ago confirmed that results
are exeeding expectations.
B. MERGER is next on the agenda. C. plans to make JV
with producers supported by good finantials [think pay
package of MR WILSON] will lead to aquesition of
more oilsand land AND HIGHER CAP FOR CWPC.
D. due to safety of Canada, in 4 years from now evry
$20 increase in price of oil will double company
market cap [COMPARING TO 860 MIL TODAY].
E. by year 2010 if everything is normal -expect
oil price to be $160+, but if only 1 oil producing country
will be out expect $220+, if 2 out expect $300+,
if middle east out - forget about it.
F. as a JP with production company CURRENT value of oil
in a ground for BQI should be around [$4 per barrel+ $2
for been lined up for production]=$6 pps.
NOW LETS CALCULATE THE CAP. NOTICE, i am using low
expectation numbers!!!
[only 25 BILLION instead of 60] multiplied by
[160-20 divide by20=7] and multyplied BY $6pps =
!!!!!!!!!!!!!!!!!!!!!! 1 TRILLION + CAP FOR BQI
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! AND
THIS ON THE LOW SIDE
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! BY THE WAY THIS
BRINGS BQI PPS TO $3662 USD AFTER 50% DILLUTION.
[1 trillion 50 million divide by 2 = 525 billion divide
by current cap of 860 million= 610 and multiplied by
current $6pps] AND THIS IS NOT A MISTAKE!
OK let say i am a dreamer and only 10% of what i see
will be the reality - IT IS STILL WILL BE A WOOPING
$366 PER SHARE!!!!!!!!!!!!!!!!!!!!!!!!!!! ON A LOW SIDE
!!!!!!!!!!!!!!!!!!!! SO WHAT ARE WE TALKING ABOUT?
ABOUT - L I F E T I M E O P P O R T U N I T Y. and if
you are not agree - BUY BQI!!!! just in case your
calculus is not to the par.
thanks by dan23z -
from another BQI forum -
you got it right on target -
Cheers
welcome to BQI -
http://tinyurl.com/34wqcd
http://tinyurl.com/2gpmvq
Sentiment : Strong Buy
August crude oil future contract closed higher on Thursday
as it extends this summer's rally.
The high-range close sets the stage for a steady
to higher opening on Friday.
Stochastics and the RSI are overbought but are neutral
signaling that sideways to higher prices are
possible near-term.
If August extends this month's rally, weekly resistance
crossing at 77.45 is the next upside target.
Closes below the 20-day moving average crossing
at 71.84 would confirm that a short-term top
has been posted....
Three More Compelling Reasons To Like Oilsands Quest -
Posted on Jul 16th, 2007 with stocks: BQI
http://energy.seekingalpha.com/article/41044
The worlds largest crude tar sands res. -
BQI - a trillion res. -
The worlds largest tar sands res. -
See and listen to the video -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=19810551
BQI - "The New Oil Sands Province" -
Chris Hopkins' presentation at the TD Newcrest Oil Sands Forum, July 12, 2007, Calgary, Alberta: "The New Oil Sands Province"
http://www.oilsandsquest.com/investor_information/presentations/OQI_TD_Conf_12_07_07.pdf
http://www.oilsandsquest.com/investor_information/news_releases.html
http://www.investorshub.com/boards/board.asp?board_id=6668
BQI TA TI LT Fibonacci cor. 62% level done -
BQI TA LT Fib. bull 162% of prev. cor. started -
Is the world's oil running out fast? -
Note Ex..dd....
http://news.bbc.co.uk/2/hi/business/3777413.stm
Three More Compelling Reasons To Like Oilsands Quest -
Posted on Jul 16th, 2007 with stocks: BQI
http://energy.seekingalpha.com/article/41044
The worlds largest crude tar sands res. -
BQI - a trillion res. -
The worlds largest tar sands res. -
See and listen to the video -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=19810551
BQI - "The New Oil Sands Province" -
Chris Hopkins' presentation at the TD Newcrest Oil Sands Forum, July 12, 2007, Calgary, Alberta: "The New Oil Sands Province"
http://www.oilsandsquest.com/investor_information/presentations/OQI_TD_Conf_12_07_07.pdf
http://www.oilsandsquest.com/investor_information/news_releases.html
http://www.investorshub.com/boards/board.asp?board_id=6668
Imo. Tia.
God Bless
Three More Compelling Reasons To Like Oilsands Quest -
Posted on Jul 16th, 2007 with stocks: BQI
http://energy.seekingalpha.com/article/41044
The worlds largest crude tar sands res. -
BQI - a trillion res. -
The worlds largest tar sands res. -
See and listen to the video -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=19810551
BQI - "The New Oil Sands Province" -
Chris Hopkins' presentation at the TD Newcrest Oil Sands Forum, July 12, 2007, Calgary, Alberta: "The New Oil Sands Province"
http://www.oilsandsquest.com/investor_information/presentations/OQI_TD_Conf_12_07_07.pdf
http://www.oilsandsquest.com/investor_information/news_releases.html
http://www.investorshub.com/boards/board.asp?board_id=6668
BQI - This article says fair value over $18 a share
Check it out.
Oilsands Quest Inc.: Undervalued Canadian Oilsands Play
Posted on Jul 16th, 2007 with stocks: BQI
http://energy.seekingalpha.com/article/41077
http://investorshub.advfn.com/boards/board.asp?board_id=6668
Oilsand Quest BQI is very oversold - undervalued -
BQI bull wave comming stong -
BQI will still turn out to be the winner -
The worlds largest crude tar sands res. -
BQI - a trillion res. -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=19810551
BQI - "The New Oil Sands Province" -
Chris Hopkins' presentation at the TD Newcrest Oil Sands Forum, July 12, 2007, Calgary, Alberta: "The New Oil Sands Province"
http://www.oilsandsquest.com/investor_information/presentations/OQI_TD_Conf_12_07_07.pdf
http://www.oilsandsquest.com/investor_information/news_releases.html
http://www.investorshub.com/boards/board.asp?board_id=6668
BQI - "The New Oil Sands Province" -
Chris Hopkins' presentation at the TD Newcrest Oil Sands Forum, July 12, 2007, Calgary, Alberta: "The New Oil Sands Province"
http://www.oilsandsquest.com/investor_information/presentations/OQI_TD_Conf_12_07_07.pdf
http://www.oilsandsquest.com/investor_information/news_releases.html
http://www.investorshub.com/boards/board.asp?board_id=6668
BQI - 10 billion barrels, is based on the following evaluations:
Oilsands Quest estimates resource potential of its Saskatchewan
and adjacent Alberta permits
Amex: BQI
CALGARY, July 12 /PRNewswire-FirstCall/ -
Oilsands Quest Inc.
(Amex: BQI) announces management's estimate of resource
potential of 10 billion barrels of bitumen for its contiguous
oil sands exploration permits in northwest Saskatchewan and
northeast Alberta.
This estimate includes management's estimate of Original
Bitumen In Place (OBIP) for the Axe Lake Discovery on
its Saskatchewan permits as well as management's estimate
of resource potential on certain portions of the remainder
of its Saskatchewan permits and its adjacent Alberta permits.
Management's estimate of resource potential, 10 billion
barrels, is based on the following evaluations:
- Axe Lake Discovery area: Management's estimate of OBIP for Axe Lake
is 1.4 to 1.5 billion barrels and its estimate of additional resource
potential for Axe Lake is 0.7 to 1.3 billion barrels, for a total
potential bitumen resource of 2.1 to 2.8 billion barrels. (This total
estimate has been rounded to 2.5 billion barrels for ease of
reference). The independent consultant's estimate of OBIP for the Axe
Lake Discovery will be completed in the fall of 2007.
- Other portions of the company's Saskatchewan permits: Management's
estimate of additional resource potential for selected areas outside
the Axe Lake Discovery area (areas to the south and northeast) is
3.0 billion barrels.
- Adjacent Alberta permits: Management's estimate of the resource
potential for approximately two townships of the company's adjacent
permits in Alberta is 4.5 billion barrels.
'Axe Lake is proving to be suitable for in-situ recovery,' said Christopher H. Hopkins, President and Chief Executive Officer of Oilsands Quest. 'According to results of studies of the bitumen characteristics to date, we expect the high permeability and porosity characteristics will contribute to high recovery factors. As a result of the homogeneity of the sands, hot water (wet steam) recovery processes are proving to be efficient at relatively low pressure and temperatures (from 80 degrees Celsius), with yields of 54 to 83 percent under lab conditions.'
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.
Today, Mr. Hopkins is addressing the TD Newcrest Oil Sands Forum, a private conference being held in Calgary, Alberta. A copy of his PowerPoint presentation summarizing the company's estimates of OBIP and resource potential, current information about the Axe Lake bitumen resource and an overview of Oilsands Quest's plans for the next 12 to 18 months will be posted on the company's website (www.oilsandsquest.com) later today. This presentation also includes a map relating the resource estimates to the company's permit areas.
Explanation of Terminology
Discovered Resources
The Axe Lake discovery is classified as a Discovered Resource. The Discovered Resources classification is in accordance with the Canadian Oil and Gas Evaluation Handbook (COGEH), which is the primary reference for reporting resources under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities promulgated by the Canadian Securities Administrators. As defined in the COGEH, '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.' 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 OBIP estimates can not at this time be classified into one of these four sub-categories
Original Bitumen In Place
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. Management's estimate is a High Estimate (P10), based on extrapolating data to approximately 1,000 metres (3,281 feet) from the well bore. The estimate was made in accordance with the COGEH. The commercial viability of the bitumen resource, or whether currently commercial recovery processes will be applicable, cannot be determined without further drilling, testing and analysis. The area of the OBIP 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.
Resource Potential
Management's estimate of Resource Potential is based on the definition of Undiscovered Resources, which is a recognized category in the COGEH. As defined in the COGEH, 'Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered.' Management's assessment of resource potential is based on observations of resource extensions from the Axe Lake Discovery drill holes adjacent to and those on the lands assessed and on seismic surveys completed to date. There is no certainty that any portion of the resource potential will be discovered and, if discovered, it may not be economically viable or technically feasible to produce. This assessment of resource potential does not constitute an OBIP estimate. Further drilling and analysis is required to develop an OBIP estimate for these permit lands. The COGEH can be obtained online (www.petsoc.org).
Forward-Looking Information
Except for statements of historical fact relating to the company, ----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 the Oilsands Quest permit lands.
SOURCE Oilsands Quest Inc.
Source: PR Newswire (July 12, 2007 - 7:00 AM EDT)
News by QuoteMedia
www.quotemedia.com
http://www.oilsandsquest.com/investor_information/news_releases.html
http://www.investorshub.com/boards/board.asp?board_id=6668
What's New May 7, 2007 "Toward Commercialization",
PowerPoint Presentation, May 2007
http://www.oilsandsquest.com/pdf/May_2007.pdf
http://www.investorshub.com/boards/board.asp?board_id=6668
Oilsands Quest announces classification as a Regulation S-K Filer
Amex: BQI
CALGARY, April 30 /PRNewswire-FirstCall/ -
Oilsands Quest Inc.
(Amex: BQI) announces that, for the fiscal year beginning on
May 1, 2007, the company will no longer be considered a
small business issuer as defined by the Securities
and Exchange Commission (SEC).
For periods ending after May 1, 2007, the company will be
required to file annual and quarterly reports on Forms 10-K
and 10-Q in accordance with Regulation S-K of the SEC rules.
http://app.quotemedia.com/quotetools/popups/story.jsp
http://www.investorshub.com/boards/quotes.asp?ticker=bqi
http://www.investorshub.com/boards/board.asp?board_id=6668
Oilsands Quest announces private placement of common stock
Amex: BQI
CALGARY, April 17 /PRNewswire-FirstCall/ -
Oilsands Quest Inc. -
(Amex: BQI) announced today that it intends to issue shares
of its common stock to investors in Canada and
the United States pursuant to certain exemptions from
prospectus requirements (the 'Common Shares') through
a syndicate of underwriters.
Pricing of the private placement will follow marketing
to investors and will be determined in the context of
the market.
It is expected that the total gross proceeds to
Oilsands Quest will be approximately US$30 million.
The proceeds will be used to repay debt incurred in
conjunction with recently announced property acquisitions,
for pre-commercial feasibility testing, working capital
and general corporate purposes.
Closing of the private placement is expected to occur on
or about May 1, 2007 and is subject to regulatory approval
and the completion of definitive documentation.
The Common Shares have not been registered under the
United States Securities Act of 1933, as amended
(the 'Securities Act') and will be offered or sold only
in compliance with Regulation S and Regulation D under
the Securities Act.
This notice is not an offer to sell or a solicitation of
an offer to buy such securities and is issued pursuant to
Rule 135c under the Securities Act of 1933.
Forward-Looking Information
Except for statements of historical fact relating to
the company, this news release contains ---- 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.
SOURCE Oilsands Quest Inc.
Source: PR Newswire (April 17, 2007 - 9:55 AM EDT)
http://app.quotemedia.com/quotetools/popups/story.jsp
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.siliconinvestor.com/subject.aspx?subjectid=56941
OilSands 8 Times Bigger than Saudi Arabia's">
Canada's Oil Sands: Investing in the Oil Reserve 8 Times Bigger
than Saudi Arabia's">
In our new Canada Oil Sands Report, you’ll discover:
* The 4 Reasons Canada's Sands Are Poised To Meet Global Demand
for Oil
* Why Canada's Oil Sands Will Become the Single-largest Source
of Foreign Oil in the U.S.
* How To Get In On One of North America's Most Lucrative
Investment Opportunities
Saudi oil in decline-oilsands will shine -
ITS GOING TO BE MASSIVE PROVEN RESERVES THAT WILL MATTER.
THE BQI OILSANDS WILL ROCK!
Pick up the cheap manipulated shares and hold them LONG! -
The Largest Known Oil Reserves In The World -
DD........
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.siliconinvestor.com/subject.aspx?subjectid=56941
RR thanks for info.
Oilsands Quest Plans Conference Call and Webcast -
regarding Operations Update on -
Monday, March 26, 2007
Amex: BQI
CALGARY, March 23 /PRNewswire-FirstCall/ -
Oilsands Quest Inc.
(Amex: BQI) plans to issue a news release regarding an update
of the company's operations on Monday, March 26, 2007,
at approximately 4:00 am Mountain Time
(6:00 am Eastern Time).
A conference call and webcast to provide a comprehensive update
of this winter's exploration program and to discuss the
implications of the company's recent purchase of oil sands
exploration permits in Alberta will be held for the investment community the same day at 9:00 am Mountain Time
(11:00 am Eastern Time).
Live conference call participant dial-in number: 866-249-2157
Replay audience dial-in number and passcode: Access number: 877-289-8525 Passcode 21224551 followed by the pound sign
Webcast information, audience URL:
Please use this link to access the live and/or archived event
which will be available for two weeks following the event:
http://w.on24.com/r.htm?e=41518&s=1&k=75348C36F05D9E9F727C8C96EB7657D4
Oilsands Quest Inc.
is conducting the province of Saskatchewan's first major oil sands
exploration program and is currently nearing completion of the
second winter drilling season in its exploration program.
The company is focused on proving the commerciality of oil sands
deposits on its permits in northwest Saskatchewan, located directly
across the border from the Athabasca oil sands in Alberta.
The company recently announced the purchase of three townships
of oil sands exploration permits in Alberta, located directly
across the border and contiguous to its Axe Lake Discovery area
on its Saskatchewan permits.
SOURCE Oilsands Quest Inc.
Source: PR Newswire (March 23, 2007 - 5:23 PM EDT)
News by QuoteMedia
www.quotemedia.com
----
The Largest Known Oil Reserves In The World -
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.siliconinvestor.com/subject.aspx?subjectid=56941
Oilsands 'in every direction' Company excited by bitumen deposits in northern Sask.
Murray Lyons, The StarPhoenix
Published: Wednesday, March 21, 2007
AXE LAKE CAMP — An Alberta company that has shelled out millions exploring for bitumen in northern Saskatchewan is excited by a deposit that shows fairly conclusively that the Alberta oilsands don't run out at the border.
Oilsands Quest Inc.
(Amex-BQI) has spent two winters building roads and doing seismic work and core drilling, including more than $40 million spent in the last five months.
Oilsands Quest president and CEO Christopher Hopkins points from his seat in a chartered Cessna Caravan on the way to his project's makeshift ice runway, indicating that Encana's Borealis oilsands project is only a few minutes flying time west of the border.
A helicopter view of a truck-mounted drill rig operating off one of more than 100 drill pads cut out of the jackpine forest in the Oilsands Quest Axe Lake project
Murray Lyons/The StarPhoenix
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Font: ****Hopkins and his colleagues say their work so far has shown that the formation that Oilsands Quest has been drilling into this winter is remarkably similar to the land Encana is exploiting nearby in Alberta.
"Borealis is our next door neighbour and they are only about six miles across the border and that project is currently in development," he said. "They are looking at an in situ project (where steam or a solvent is injected into the formation to make the bitumen flow to the surface), and we would say what they're doing is analogous to what we hope to do here.
"The resource that we discovered is analogous to what they've got. We're at similar depths and have similar characteristics in the reservoir."
What excites Hopkins, as he shows a 3-D model on his laptop, is that the 36-square-mile formation Oilsands Quest has drilled in so far may be just the beginning.
"We haven't found any edge. We're in the middle of something and it's extending in every direction," he said. "North. South. East. West. It doesn't matter.
"On average, it's running 20 metres thick. That's a good Alberta pay thickness. As a discovered resource, this is an amazing start."
So far, the bitumen samples being pulled have averaged about 14 per cent petroleum content, with Hopkins and his geologists pointing out that the bitumen on the Saskatchewan side is embedded in more of an ancient river fan sediment with more sand and less clay, which is harder to separate from the oil.
"We've got high average grades compared to most of Alberta's projects and we would suggest it is better than best by nature of the geology -- technical jargon for meaning better saturated sands and coarser sands -- so easier to refine," Hopkins said.
Oilsands Quest, which trades on the U.S. Amex exchange and has many American investors, has applied to trade on the main TSX exchange in Canada. It raised $25 million US on its most recent share offering. Most of the shares in that offering were sold to Canadian investors eligible to get flow-through tax benefits.
The results of that money raising can be found in three well-equipped mining camps and a network of roadways cut through the spindly jackpine forest. Using that road network, eight truck-mounted core drilling rigs have punched more than 100 holes into the Saskatchewan glacial sand and gravel deposit.
Last year, Oilsands Quest drilled just 19 holes into the formation and the independent "high estimate" of the bitumen in place amounted to slightly more than 500 million barrels. Results won't be in from this winter's drilling for about six months.
For now, company officials are prohibited by market regulations from saying much about how the reserve will grow after this year's work, except to say it will be a multiple of last year's figure.
On a tour of its drill sites, Hopkins points out his staff are not allowed to do any recording of the material coming up the drill pipe. Geologists with Norwest Corp., an independent consulting company, log each bitumen core.
The logged core is kept frozen and sent to an independent lab that specializes in examining core from western Canadian oilsands projects. Hopkins says this follows the required process for resource companies under stock market rules in Canada to assure investors of the veracity of what is being reported.
How soon might the Saskatchewan oilsands exploration turn into a project?
Hopkins and his geologists say another two to three years of drilling are needed to prove the size and quality. By next year, the project could see a drill hole placed every 100 metres to ensure the formation is consistent.
Down the road, Hopkins says his company hopes to attract the interest of outside investors who would want to spend the billions necessary to make further oilsands exploitation possible. The last project Hopkins and his group were associated with in Alberta -- Synenco -- is being taken to development stage, partly with money from a Chinese state oil company.
However, the future of oilsands in Canada took a bit of a hit in Monday's budget. Even as Hopkins and his key employees were leading the media on a site tour at Axe Lake, in Ottawa, Finance Minister Jim Flaherty delivered a blow to the oilsands industry by dropping an accelerated capital depreciation that had helped oilsands project financing.
In a phone interview Tuesday from Calgary, Hopkins noted Oilsands Quest stock had dropped 1.3 per cent Tuesday. That's on top of falling several dollars in the past few months as concern over the regulatory future of the oilsands increases.
"Uncertainty breeds fear and fear breeds inaction," he said Tuesday. "Anything that disturbs the fiscal regime creates uncertainty and this is more uncertainty."
Hopkins says the federal decision won't have a direct impact on future exploration in Saskatchewan. But he says investors from outside Canada will see oilsands investment as less stable now than it was in the most recent past, and may place their money on other countries.
"Overall, capital is fleeing the oilsands. We saw it today and we will see it in the future."
mlyons@sp.canwest.com
http://www.canada.com/saskatoonstarphoenix/news/business/story.html?id=e280fde3-41c6-4e07-bd5f-e6f52....
http://www.investorshub.com/boards/board.asp?board_id=6668
The Largest Known Oil Reserves In The World -
RE: 52 week low, good time to buy -
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.siliconinvestor.com/subject.aspx?subjectid=56941
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_O/threadview?m=mm&bn=51283&tid=....
by: RRothschild at another forum.
Franklin Announces GTL Plant in Tierra del Fuego, Argentina -
Agreement Is for Development and Operation of First GTL -
Facility of This Size in South America -
LAS VEGAS, NV, Feb 28, 2007 (MARKET WIRE via COMTEX) --
Franklin Mining, Inc. -
(FMNJ) President Jaime Melgarejo, Jr. has returned from
Argentina where he and an engineer visited possible
construction sites for a gas-to-liquid (GTL) facility
to be constructed in the Province of Tierra del Fuego,
Argentina.
William Petty -
has traveled to Zurich, Switzerland to secure necessary -
financing.
Franklin Oil & Gas, Argentina, S.A.,
was formed in December 2006 as the first step toward
fulfillment of an agreement for the construction and
operation of a 10,000 barrel-per-day GTL processing
facility.
The agreement, signed by Hugo Cocarro, Governor
of Tierra del Fuego, is accompanied by a 25 year
guarantee of the required natural gas resource
issued to Franklin Oil & Gas, Argentina S.A.
on November 16, 2006 by Cristian A. Folgar,
Argentina's National Undersecretary of Fuels.
Announcement of Franklin Oil & Gas' contract comes
three weeks following Royal Dutch Shell Plc's cornerstone
ceremony at the site of their Pearl GTL facility in Qatar.
Franklin's development and production agreement with Argentina
-- similar to agreements reached by major oil companies
in other countries, including Shell in Qatar --
will result in the first such facility of this size
in South America.
When fully operational, Argentina's Tierra del Fuego Province
will begin using an existing abundant natural resource
(natural gas) to gradually achieve energy independence
while creating local economic growth through reduced
energy costs and increased export revenues.
Long term benefits include production and export of
additional energy resources including naphtha and electricity.
Benefit to local, Province and National governments include
taxes and royalties as well as participating in production
profits.
During the next thirty months (the planning and construction
phases), development and construction of the GTL plant
will have created 400 direct and 2300 indirect jobs.
Operating the plant will create 140 direct and 500 indirect
permanent jobs.
Additional information on Franklin Mining, Inc.'s GTL projects
in Bolivia and Argentina is available at
www.franklinmining.com
About Franklin Mining, Inc.:
Franklin Mining, Inc. has mining and exploration interests
in the United States, Argentina and Bolivia;
Franklin Mining, Bolivia S.A. is a wholly owned subsidiary.
Franklin Mining, Inc. holds 51% ownership in both
Franklin Oil & Gas, Bolivia S.A. and
Franklin Oil & Gas, Argentina S.A.
DISCLOSURES: "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: ---- could cause
Franklin Mining, Inc.'s actual results to differ materially
from those expressed in any forward-looking statements
made by, or on behalf of, Franklin Mining, Inc.
For further information, please visit our website
(www.franklinmining.com) or contact our
Investor Relations firm,
A. Austin & Company,
1-702-386-5379.
A. Austin & Company
Investor Relations
1-702-386-5379
www.franklinmining.com
----
The national territory of the Argentine -
part of Tierra del Fuego -
the Argentine-claimed sector of Antarctica -
and several South Atlantic islands -
the national territory of
Tierra del Fuego a province -
Belief in and respect for multilateralism -
led to Trinidad and Tobago's respect for all -
major global and regional fora -
Are active participants in the creation of
the Free Trade Area of the Americas -
which, when maybe realized? -
will stretch from Alaska in the North -
to Tierra del Fuego in the South;
creating a market of over 800 million consumers -
and generating tremendous opportunity for economic
and social development -
The region's commitment to this hemispheric integration
process has led Trinidad and Tobago and its
CARICOM partners to offer our -
Capital City, Port-of-Spain, as the ideal location -
for the seat of the proposed permanent -
secretariat of the Free Trade Area of -
the Americas -
The length of Argentina from north to south -
is about 3,330 km (about 2,070 mi);
its greatest width is about 1,384 km (about 860 mi) -
The country includes the province of Tierra del Fuego -
which comprises the eastern half of
the Isla Grande de Tierra del Fuego -
and a number of adjacent islands to the east -
including Isla de los Estados.
The Argentine coastline measures
about 4,989 km (about 3,100 mi) long.
Argentina also claims a total of 2,808,602 sq km
(1,084,407 sq mi) of disputed territory.
Since the 1950s, Argentina has claimed a pie-shaped section
of Antarctica between longitude 25° west and
longitude 74° west -
Argentina also claims several sparsely settled southern Atlantic
islands, including the Falkland Islands -
or Islas Malvinas, currently controlled by Britain -
The two nations fought a brief war in 1982 -
over control of the islands, and sporadic discussions -
about the political fate of the islands continue -
Several major oil fields also are in Patagonia -
at the southern tip of Patagonia is Tierra del Fuego,
a large mountainous island shared by
Argentina and Chile -
In terms of value, the chief mineral product is petroleum.
In 2004 production of crude petroleum -
was 271 million barrels, furnishing the country’s -
needs and allowing Argentina to become a -
net energy exporter.
Major petroleum reserves are located in Patagonia
and offshore near the Falkland Islands (Islas Malvinas) -
Natural gas production has doubled since the 1980s
to about 41 billion cubic meters in 2003 -
with reserves located mainly in Patagonia
and Tierra del Fuego -
Hydrocarbon resources play an important role in
the economies of both the Argentine and Chilean
sides of the island -
Numerous oil and gas fields are exploited on land
and offshore, particularly in the northeastern sector
of the island -
Nearly all of the Argentine oil and gas is sold to Chile.
The vegetation in the foreground is typical of
the steppeland throughout Patagonia -
This photo was taken at Punta Catalina,
the northeasternmost point of Tierra del Fuego.
The Straits of Magellan stretch to the west -
Few people realize that Chile has an Atlantic coast -
The northeasternmost part of Tierra del Fuego -
where the Straits of Magellan enter
the South Atlantic Ocean, and the coastline
for about 15 km to the southeast are in Chilean territory.
In addition, several Chilean islands on the south side
of Tierra del Fuego, including Cape Horn,
face the Atlantic -
Franklin Mining, Inc. Is Forming Franklin Oil & Gas, Argentina -
http://www.marketwire.com/mw/release_html_b1?release_id=194250
http://www.investorshub.com/boards/read_msg.asp?message_id=15535376
In Argentina -
has been N/R reported -
SHELL CONSIDERS GTL PLANTS IN ARGENTINA AND AUSTRALIA -
The Shell Gas and Power division of Royal Dutch/Shell
has reported that it is studying additional applications
of its Shell Middle Distillate Synthesis Gas-To-Liquids (GTL)
technology in Argentina and Australia.
These would be 75,000-barrel per day facilities similar
to that previously announced for
the Mediterranean Coast of Egypt.
In Argentina, Shell is scouting locations for a plant
in Tierra del Fuego,
where it is in discussion with a local consortium
regarding the possible supply of offshore natural gas
to the facility.
In Australia, the company is exploring sites in both
Western Australia and Northern Territory for the GTL plant.
In Australia, Shell is exploring GTL opportunities
that would complement the substantial liquefied natural gas
industry as well as provide strategic diversification.
Synthetic Fuels
Rep. Consultants
RE: THE NSE EXPRESS -
Well Stephen,
do fulfill all hopes -
its time cut all red tapes and ribbons -
Canada want Gas, Oil and pipelines -
Mackenzie Delta project etc.
Indian and Northern Affairs Canada -
we all count on its overdue -
Tia
Natural Gas Potential of North Canada and Alaska -
http://www.hydrocarbons-technology.com/projects/natural_gas/natural_gas4.html
http://www.hydrocarbons-technology.com/projects/natural_gas/index.html
http://www.investorshub.com/boards/board.asp?board_id=5526
by: RRothschild another BB-board
TIERRA DEL FUEGO - The Vertex of the Cube -
that appears at - Tierra del Fuego -
emerges in the most dramatic of the eight Places -
included in this proposal -
Its very name is rich in meaning..
By a - "fortunate coincidence" -
it includes those two basic elements --
-- Earth and Fire --
- that govern the project and -
http://www.souloftheworld.com/tierradelfuego.html
Franklin Mining, Inc.
Is Forming Franklin Oil & Gas, Argentina.
FMNJ Repeat past Argentina - N/R -
LAS VEGAS, NV -- (MARKET WIRE) -- December 12, 2006 --
Franklin Mining, Inc. -
(FMNJ.PK) announced today that Franklin Oil & Gas,
Argentina is being formed -
Franklin Oil & Gas, Argentina -
a division of Franklin Mining, Inc. -
has recently signed agreements with
Governor Hugo Cocarro
(Governor of Tierra Del Fuego)
for a GTL project in Southern Argentina -
Mr. William Petty and Mr. Jaime Melgarejo left today
for Buenos Aires, Argentina to begin the process
of setting up offices.
"We are very excited about this opportunity;
we have been in negotiations for the past few months
in Argentina.
Several weeks ago, we made our preliminary presentation
and it was received favorably.
We have been very pleased with the cooperation
of the local government as well as
the national government of Argentina,"
stated Jaime Melgarejo,
President of Franklin Mining, Inc.
Highlighted Links
MacReport.Net
Franklin Mining, Inc.
Franklin Mining, Inc.
will own 51% of -
Franklin Oil & Gas, Argentina.
About Franklin Mining, Inc.:
Franklin Mining -
currently has interests -
in Bolivia and the United States.
For information about;
Franklin Mining, Inc.
visit our website:
http://www.franklinmining.com.
DISCLOSURES:
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This press release contains
forward-looking statements ---- risks could cause
Franklin Mining Inc.'s actual results to differ
materially from those expressed in any forward-looking
statements made by, or on behalf of,
Franklin Mining Inc.
For Further Information check out our website www.franklinmining.com or
contact:
Investor Relations
Mr. Andrew Austin
1-702-386-5379
SOURCE: Franklin Mining, Inc.
Tierra del Fuego (Spanish for "Land of Fire")
Spanish is an archipelago -
28,476 sq mi (73,753 km²) -
separated from the southernmost tip -
of the South American mainland -
by the Strait of Magellan -
The southern point of the archipelago -
forms Cape Horn.
Rhodium $5030.- per ounce - Silver to follow -
http://www.kitco.com/LFgif/rh0030lnb.gif
Its a start - Silver above $800.- per ounce in 1477 -
http://www.gold-eagle.com/editorials_03/images/waltzek091003a.jpg
fig. the inflasion since - the Silver would be much more
than $8000.- per ounce today -
(if it was a fair market playingfield -
without ratchillz banksterz manipulated the market -
since the past 500 years) -
Are the lemmings following LT Bucky? -
U.S $ INDEX (NYBOT:DX) -
FMNJ - dd --
http://www.franklinmining.com/Home/tabid/1215/Default.aspx
FMNJ - Cerro Rico - Inca - Potosi or “Rich Mountain” -
great bonanza periods have been reported for the quality
of the mineral, with ore contents between 1,500 and
9,000 Silver ounces per ton -
and est. reserves are about 938,130 kgs of Silver -
by very shallow drilling -
250,004 tons of zinc - by very shallow drilling -
dd --
The Worlds Richest Silver Mines -
has been mined for more than -
- 500 years -
Est. 1864 -
http://www.franklinmining.com/Projects/HardRockProjects/CerroRicoPalivariIIAlternativeIIIBolivia/tab....
http://www.investorshub.com/boards/board.asp?board_id=5406
Franklin Announces GTL Plant in Tierra del Fuego, Argentina -
Agreement Is for Development and Operation of First GTL -
Facility of This Size in South America -
LAS VEGAS, NV, Feb 28, 2007 (MARKET WIRE via COMTEX) --
Franklin Mining, Inc. -
(FMNJ) President Jaime Melgarejo, Jr. has returned from
Argentina where he and an engineer visited possible
construction sites for a gas-to-liquid (GTL) facility
to be constructed in the Province of Tierra del Fuego,
Argentina.
William Petty -
has traveled to Zurich, Switzerland to secure necessary -
financing.
Franklin Oil & Gas, Argentina, S.A.,
was formed in December 2006 as the first step toward
fulfillment of an agreement for the construction and
operation of a 10,000 barrel-per-day GTL processing
facility.
The agreement, signed by Hugo Cocarro, Governor
of Tierra del Fuego, is accompanied by a 25 year
guarantee of the required natural gas resource
issued to Franklin Oil & Gas, Argentina S.A.
on November 16, 2006 by Cristian A. Folgar,
Argentina's National Undersecretary of Fuels.
Announcement of Franklin Oil & Gas' contract comes
three weeks following Royal Dutch Shell Plc's cornerstone
ceremony at the site of their Pearl GTL facility in Qatar.
Franklin's development and production agreement with Argentina
-- similar to agreements reached by major oil companies
in other countries, including Shell in Qatar --
will result in the first such facility of this size
in South America.
When fully operational, Argentina's Tierra del Fuego Province
will begin using an existing abundant natural resource
(natural gas) to gradually achieve energy independence
while creating local economic growth through reduced
energy costs and increased export revenues.
Long term benefits include production and export of
additional energy resources including naphtha and electricity.
Benefit to local, Province and National governments include
taxes and royalties as well as participating in production
profits.
During the next thirty months (the planning and construction
phases), development and construction of the GTL plant
will have created 400 direct and 2300 indirect jobs.
Operating the plant will create 140 direct and 500 indirect
permanent jobs.
Additional information on Franklin Mining, Inc.'s GTL projects
in Bolivia and Argentina is available at
www.franklinmining.com
About Franklin Mining, Inc.:
Franklin Mining, Inc. has mining and exploration interests
in the United States, Argentina and Bolivia;
Franklin Mining, Bolivia S.A. is a wholly owned subsidiary.
Franklin Mining, Inc. holds 51% ownership in both
Franklin Oil & Gas, Bolivia S.A. and
Franklin Oil & Gas, Argentina S.A.
DISCLOSURES: "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: ---- could cause
Franklin Mining, Inc.'s actual results to differ materially
from those expressed in any forward-looking statements
made by, or on behalf of, Franklin Mining, Inc.
For further information, please visit our website
(www.franklinmining.com) or contact our
Investor Relations firm,
A. Austin & Company,
1-702-386-5379.
A. Austin & Company
Investor Relations
1-702-386-5379
www.franklinmining.com
----
The national territory of the Argentine -
part of Tierra del Fuego -
the Argentine-claimed sector of Antarctica -
and several South Atlantic islands -
the national territory of
Tierra del Fuego a province -
Belief in and respect for multilateralism -
led to Trinidad and Tobago's respect for all -
major global and regional fora -
Are active participants in the creation of
the Free Trade Area of the Americas -
which, when maybe realized? -
will stretch from Alaska in the North -
to Tierra del Fuego in the South;
creating a market of over 800 million consumers -
and generating tremendous opportunity for economic
and social development -
The region's commitment to this hemispheric integration
process has led Trinidad and Tobago and its
CARICOM partners to offer our -
Capital City, Port-of-Spain, as the ideal location -
for the seat of the proposed permanent -
secretariat of the Free Trade Area of -
the Americas -
The length of Argentina from north to south -
is about 3,330 km (about 2,070 mi);
its greatest width is about 1,384 km (about 860 mi) -
The country includes the province of Tierra del Fuego -
which comprises the eastern half of
the Isla Grande de Tierra del Fuego -
and a number of adjacent islands to the east -
including Isla de los Estados.
The Argentine coastline measures
about 4,989 km (about 3,100 mi) long.
Argentina also claims a total of 2,808,602 sq km
(1,084,407 sq mi) of disputed territory.
Since the 1950s, Argentina has claimed a pie-shaped section
of Antarctica between longitude 25° west and
longitude 74° west -
Argentina also claims several sparsely settled southern Atlantic
islands, including the Falkland Islands -
or Islas Malvinas, currently controlled by Britain -
The two nations fought a brief war in 1982 -
over control of the islands, and sporadic discussions -
about the political fate of the islands continue -
Several major oil fields also are in Patagonia -
at the southern tip of Patagonia is Tierra del Fuego,
a large mountainous island shared by
Argentina and Chile -
In terms of value, the chief mineral product is petroleum.
In 2004 production of crude petroleum -
was 271 million barrels, furnishing the country’s -
needs and allowing Argentina to become a -
net energy exporter.
Major petroleum reserves are located in Patagonia
and offshore near the Falkland Islands (Islas Malvinas) -
Natural gas production has doubled since the 1980s
to about 41 billion cubic meters in 2003 -
with reserves located mainly in Patagonia
and Tierra del Fuego -
Hydrocarbon resources play an important role in
the economies of both the Argentine and Chilean
sides of the island -
Numerous oil and gas fields are exploited on land
and offshore, particularly in the northeastern sector
of the island -
Nearly all of the Argentine oil and gas is sold to Chile.
The vegetation in the foreground is typical of
the steppeland throughout Patagonia -
This photo was taken at Punta Catalina,
the northeasternmost point of Tierra del Fuego.
The Straits of Magellan stretch to the west -
Few people realize that Chile has an Atlantic coast -
The northeasternmost part of Tierra del Fuego -
where the Straits of Magellan enter
the South Atlantic Ocean, and the coastline
for about 15 km to the southeast are in Chilean territory.
In addition, several Chilean islands on the south side
of Tierra del Fuego, including Cape Horn,
face the Atlantic -
Franklin Mining, Inc. Is Forming Franklin Oil & Gas, Argentina -
http://www.marketwire.com/mw/release_html_b1?release_id=194250
http://www.investorshub.com/boards/read_msg.asp?message_id=15535376
Sprott Asset Mgm't on Commodity BULL -
http://www.sprott.com/pdf/marketsataglance/01-2007.pdf
http://www.investorshub.com/boards/read_msg.asp?message_id=16494664
US urged massive hike in oilsands production -
By CP
TORONTO -- Canadian executives were urged to massively step up oilsands production to five million barrels of oil per day in a relatively short period of time by their counterparts in the U.S., according to documents obtained by the CBC.
Executives from U.S. oil multinationals and Canadian oilsands producers met for two days in Houston, Texas, in the days following the election of Conservative Prime Minister Stephen Harper's government last year, the broadcaster reported yesterday.
They recommended a five-fold increase in oilsands production fairly quickly, according to minutes of the meeting.
Oilsands production output was 1.1 million barrels per day in 2005, according to the National Energy Board. It is currently projected to provide between three million and 3.5 million barrels per day by 2015.
Canada exports much of its oil to the U.S. However, increasing production to five million barrels per day would be enough to satisfy a quarter of U.S. consumption and almost half its total imports.
However, such a massive production increase would require new refineries and pipelines to transport the crude from the Alberta oilsands as far as California and Texas, according to the document.
Two major energy companies that ship bitumen to the U.S. have recently announced plans for increasing the flow.
Escalation Against Iran: GOLD Higher -
http://www.informationliberation.com/?id=19543
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Tenth Good Reason To Like Oilsands Quest -
A Tenth Good Reason To Like Oilsands Quest -
Thursday January 18, 10:32 am ET
An anonymous investor submits: A few months back, there was an article published on Oilsands Quest (AMEX: BQI - News) called “9 Good Reasons to Like This Oil Sands Name.” Now, after some extremely positive news from the company, I am adding a 10th reason.
Just some background: last winter BQI drilled 30 holes, 24 of which encountered bitumen. When Norwest (NWE), the third party consultant, evaluated BQI’s core samples, it estimated reserves to total 525 million barrels. Thus, about 22 million barrels per hole.
Currently, BQI is undergoing its 2006/07 winter drilling program which could consist of up to 250 holes, 150 exploration and 100 delineation (these are the ones that could add to estimated reserves later this year). For the time being, let’s only pay attention to the 100 potential holes since they are the only ones that could add to estimated reserves.
Assuming that all 80% (a very conservative assumption based on last year’s drilling success rate – you’ll see what I mean below) or 80 of those holes encounter bitumen at the same volume per hole as last year, the company would add 1.76 billion barrels (80 holes x 22 million barrels per hole) to its current reserve estimate of 525 million barrels. Assuming each incremental barrel of reserves is worth $1, obviously, that 1.76 billion in additional reserves would be worth $1.76 billion (even I can do that math!).
Again, assuming that the value of each of its barrels in the ground is $1, the company’s market cap should intuitively be $525 million. That assumes that the company has NO other assets worth anything. However, the company’s market cap is currently $729 million. That implies that the market is valuing all of the company’s “other assets” at $205 million.
Now, for the interesting part! If you take the implied market valuation of $204 million for the company’s other assets (i.e. the land it’s currently drilling) and divide it by the potential value of those assets of $1.76 billion, you get 12%. If I remember the expected value session of my Statistics 101 class correctly, that means that the market is only ascribing the company an 11% chance of increasing reserves by 1.76 billion barrels this drilling season. That seems VERY LOW to me given that the company just came out on Tuesday saying that they’ve already completed drilling 31% of its potential 100 delineation holes for this drilling season with excellent results. Of note, out of the first 31 holes of the 2006/2007 drilling season, 27 have intersected bitumen.<
span> That implies an 87% success rate (=27/31). To put that in perspective, 40%+ success rates are considered good in the industry.
If you assume that the company has a 41.5% chance of adding 1.76 barrels (or $1.76 billion in value), you would get an expected incremental reserve value of $729 million, and the stock should be a two-bagger when the results are reported later this year. If you assume that the company has an 80% chance (in line with its 2005/2006 drilling success rate, you would get an expected incremental reserve value of $1.41 billion and the stock should be almost a three-bagger later this year.
With this kind of major upside potential, I would think that this stock will appear on many more radars over the next couple of months and that we’ll see a lot more investor interest in this stock.
Already, since the company reported its preliminary drilling results on Tuesday, the stock is trading about 1.76 million shares per day, or about 79% more than its recent average of about 986,000 shares per day. Barring a major collapse in oil prices, I would think the stock continues to appreciate until the company releases its estimated reserve numbers around October of this year.
Disclosure: Author is long BQI
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Oilsands Quest Reports Success Ratio of 87% in Current Drilling Program on Oil Sands Exploration Permits in Saskatchewan -
CALGARY, ALBERTA -- (MARKET WIRE) -- 01/16/2007 --
Oilsands Quest Inc.
(AMEX: BQI) reports that drilling results to date in its
winter 2006/07 exploration program on its oil sands
exploration permits in northwest Saskatchewan indicate
an 87 percent success ratio.
Between November 3, 2006 and January 15, 2007, a total
of 31 holes were drilled and, of these, 27 were cored
through bitumen-bearing McMurray formation.
"We are extremely pleased with our drilling results to date,"
said Christopher H. Hopkins, President & Chief Executive
Officer of Oilsands Quest Inc.
"Our 24-hole drilling program last winter achieved an
80 percent success ratio, with 19 holes intercepting
the bitumen-bearing McMurray formation.
We have surpassed last winter's success rate to a significant
degree.
In addition, our drilling to date covers a much larger area."
The 31 core holes drilled to date (27 cored) in the current
drilling program cover approximately 17 sections
(one section equals one square mile) adjacent to the
West Block drilled last year, where 17 holes (14 cored)
tested an area of approximately seven sections.
This winter's drilling results to date demonstrate the
continuation of Oilsands Quest's original discovery over
a total area of about 24 sections.
"We have growing confidence in the continuity of this
resource," said Mr. Hopkins. "Due to the extent of land
covered with our drilling, its proximity to the original
discovery and our consistent drilling success ratio, we
have designated the discovery area plus additional
prospective land associated with it as
the Axe Lake Discovery."
The Axe Lake Discovery area represents about 13.6 percent
of Oilsands Quest's net permit lands.
This winter's drilling program began on November 3, 2006
with a single drilling rig. Following the Christmas break,
drilling resumed on January 4, 2007.
At the present time, five core hole drilling rigs are at work.
The company expects six rigs to be drilling by the end
of January and eight rigs to be deployed by the end
of February.
The company is making progress toward its goal to drill up
to 100 delineation holes in the area of its original
discovery; it will also shortly begin exploration drilling
to the north and south of the Axe Lake Discovery.
The company has drilling permits for up to another 150
exploratory holes this winter.
Drilling progress has been slower than planned, however,
due largely to tougher drilling conditions.
"We are encountering numerous large boulders in the
overburden in this area," explained Mr. Hopkins.
"As a result, it is now taking about five days to drill
each hole compared to about three days per hole last year.
To offset this effect, we are expanding the use of other
exploration techniques."
This winter, Oilsands Quest will undertake a seismic survey
to identify drilling targets.
In addition, the company has commissioned an airborne
geophysical survey program for late January.
The airborne survey will combine electro-magnetic and
conventional magnetic surveys over a large area of
Oilsands Quest's exploration permits to provide valuable
data to assist in the selection of drill hole locations.
The next update of Oilsands Quest's exploration activities
is planned for mid-February, when the company will again
report the number of holes drilled, an indication of
drilling success and the number of drilling rigs on site.
Oilsands Quest expects to be able to announce detailed
information such as estimates of bitumen resource volumes,
reservoir characteristics and alternatives regarding
commercial potential by October 2007.
Oilsands Quest Inc.
(formerly CanWest Petroleum Corporation)
is conducting the province of Saskatchewan's first major
oil sands exploration program on its oil sands permits,
which are located in northwest Saskatchewan, directly
across the border from the Athabasca oil sands in Alberta.
Oilsands Quest is focused on proving the extension
of commercially viable deposits of oil sands from Alberta
into Saskatchewan.
Forward-Looking Information
Except for statements of historical fact relating to the
company, this news release contains certain "forward-looking
information" within --- should refer to Oilsands Quest's
current annual report on Form 10KSB, which is 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
the Oilsands Quest permit lands.
Cautionary Note
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: ---- discussed in Oilsands Quest Inc.'s
various filings with the Securities and Exchange Commission.
CUSIP# 678046 10 3
Contacts:
Hedlin Lauder Investor Relations Ltd.
General Inquiries and Retail Investors
Toll Free: 1-800-299-7823
or Office: (403) 232-6251
Email: irinfo@hedlinlauder.com
The Buick Group
Institutional Investors
Toll Free: 1-877-748-0914
or Office: (416) 915-0915
Email: jbuick@buickgroup.com
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http://www.marketwire.com/mw/release_html_b1?release_id=203530
Jan 2006 " Oil Sands - 60 Minutes" Documentary -
The Oil Sands Of Alberta & Saskatchewan's Canadian Oil Sands -
Where Black Gold And Riches Can Be Found -
In The Oil Sands -
CBS Correspondent Bob Simon (WMV)
January 2006 "60 Minutes" documentary -
Here's the link -
http://content.thewebvideo.com/Vidz/Oilsands.wmv
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Burning 1,000 Barrels of Oil per Second
BALTIMORE, MD -- (MARKET WIRE) -- 01/11/2007 -- By the time it takes you to read this article, say two minutes or so, the world will have consumed nearly 120,000 barrels of oil. Fact is, the world currently burns about 1,000 barrels of oil per second -- equal to the volume of five large tanker trucks. And this is just the beginning.
In just eight years global oil demand will rise by 13.3% to nearly 100 million barrels per day, according to figures from the Energy Information Administration. After that, the EIA predicts another 20.4% increase through 2030.
These skyrocketing increases in demand wouldn't be a problem, barring one major dose of reality: oil is finite.
World-renowned investor and stock picker Michael Schaefer says in his latest oil report, "Since 1859, we have consumed 1.5 trillion barrels of oil. And with our forecasted rate of consumption, it will take only 20 years to consume another 1.5 trillion. In the past two years alone we've consumed over 60 billion barrels of oil -- and that rate's about to take off."
Schaefer's report, "The Truth About Oil," explains in detail why he thinks we're never going to see oil at $40 a barrel again, how we suddenly found ourselves in this mess, and where oil is headed in the future.
"The last domino is about to fall," explains Schaefer, "The number of giant oilfield discoveries has declined dramatically since the 1960s. The large reserves and production capability of these fields are essential to increasing world oil production. Unfortunately, since 1990, there have been few giants discovered in the world -- a total of 35 actually -- and none of these have a production capability above one million barrels per day."
And that's just the beginning of it.
Twenty years ago, 15 fields had the capacity to produce more than one million barrels per day. Today only the world's four largest oil fields can produce that much. And three of those four fields are in confirmed production decline, including Saudi Arabia's Ghawar, the world's single largest producing oil field.
Schaefer's three decades of investing experience tell him that "oil prices are just taking a breather right now. They should resume their march higher in the coming months."
Schaefer is offering his newest report, "The Truth About Oil," for free. You can access his report by following this link: http://www.energyandcapital.com/subscribe/409
Energy and Capital is a daily advisory on the fast-moving profits in the energy sector, written and edited by some of the biggest names in natural resource investing today. This report was filed by Luke Burgess, editor of Energy and Capital, and was published by Angel Publishing.
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Shell bid may start rush for oil sands majors
Royal Dutch makes $7.7-billion offer
DAVID EBNER
With a file from David Parkinson
CALGARY -- Royal Dutch Shell PLC's $7.7-billion bid for the portion of Shell Canada Ltd. it does not own could be the beginning of a rush by international companies looking for major Canadian players in the Alberta oil sands, observers say.
Royal Dutch Shell already owns 78 per cent of Shell Canada and yesterday told the board of directors at Calgary-based Shell Canada it is preparing to make a formal bid of $40 a share in cash, adding that it would not proceed unless it has majority support among minority shareholders.
Companies now potentially in play include Canadian Oil Sands Trust, which owns the largest stake in oil sands miner Syncrude Canada Ltd., and Imperial Oil Ltd., majority owned by Exxon Mobil Corp., according to Kim Shannon, president of Sionna Investment Managers Inc.
UBS Securities Canada Inc. said other oil sands names such as Suncor Energy Inc., Canadian Natural Resources Ltd., Nexen Inc. and EnCana Corp. "could all be considered takeout targets."
http://www.theglobeandmail.com/servlet/story/LAC.20061024.RSHELL24/TPStory/Business
Gemini plans Fort Saskatchewan fabrication centre for heavy oil...
Monday, October 23, 2006 - 10:13 AM ET
CALGARY (CP) _ Engineering, construction and industrial services
provider Gemini Corp. (TSXV:GKX) has announced plans for a new
fabrication plant in Fort Saskatchewan, Alta.
The facility will serve heavy-oil companies and other industrial
clients.
http://www.investorshub.com/boards/board.asp?board_id=6668
Wizetrad green all the way, closed at 4.00 share today looks very good buy now.
Can Investing In Sand Make Someone Rich?
Today, oil refineries are running at an alarming 95% -
almost maximum capacity.
According to the US Department of Energy, the demand
for oil is expected to move 54% higher.
At first glance, this might appear to be a major thorn in
the side of our economy, but for investors, it’s actually
a golden opportunity waiting to be discovered.
Mississauga, Ontario (PRWEB) October 10, 2006 --
Today, oil refineries are running at an alarming 95% -
almost maximum capacity.
According to the US Department of Energy, the demand for oil
is expected to move 54% higher.
At first glance, this might appear to be a major thorn in
the side of our economy, but for investors, it’s actually
a golden opportunity waiting to be discovered.
The great thing, is that its not too late.
This is a long term trend that I feel investors will be
well rewarded for Christopher Smith, owner of
1source4stocks.com, stated that, "An up and coming trend
you’ll start to see in the very near future (which recently
took place) is large companies like ConocoPhillips creating
new ventures to extract and refine oil from properties such
as the Alberta Oil sands.
This creates tremendous opportunity for investors since
the demand for oil is only going up and Oil sands are
becoming widely accepted as a new, yet viable source
for oil."
So the question remains…Are Alberta Oil Sands a temporary
solution to our oil crisis or can we count on them as
possible contender in the near future for our primary
oil source?
Until recently, it was too expensive to extract the oil
to make it profitable. But with oil over $60, Canada’s
oil sands could indeed eliminate our need for foreign
oil in the very near future.
Smith added that, "This is especially true considering the
Alberta Oil sands are smaller than the mass of Florida,
yet they can yield more oil than Texas! Add to that the
fact that there’s already a pipeline that exists from
the Oil sands to the largest consumer of oil:
The United States.
When I put all these facts together last year, it didn’t
take me long to realize this was a relatively low-risk
investment opportunity that showed a vast amount of
potential."
Smith suggests that while politicians continue to drag their
feet on a definitive solution to our oil crisis, investors
might want to consider the Alberta Oil Sands as part of
their long term investment plans.
Smith spotted the unique investment opportunity in
February 2005, and reported it to his "smallcap 360 newsletter"
subscribers.
As a result, those who jumped on profited
greatly as a result.
"The great thing, is that its not too late.
This is a long term trend that I feel investors will be
well rewarded for," Smith remarked.
By ujaack thanks - at another forum -
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Nine Good Reasons to Like This Oil Sands Name -
September 28, 2006,
With all the talk about oil sands in recent years, most people
(including me) thought the oil sands boat had set sail long ago.
Nevertheless, I've become familiar with a very interesting oil
sands name, one which I haven't heard discussed much before,
and I currently own.
So today, I present to you -
CanWest Petroleum (AMEX: BQI - News).
1. Upside-downside very attractive.
Based on its current stock price of $3.82 per share and its
current estimated reserves of 525 million barrels, the stock
is trading at an EV/BOE of about $1.59.
Although that might sound like a fair valuation when considering
the valuations of Synenco and UTS, which trade at about
$1.00 and $1.50 EV/BOE, respectively, there’s more to BQI.
Specifically, the company is in the process of drilling 100
delineation wells and 150 exploratory wells, which could bring
that reserve estimate up to as much as 1.5 to
2.0 billion barrels.
Assuming the market continues to value BQI shares at the same
EV/BOE of $1.59, the value of the shares could rise to $10.31
to $13.75 -
when the company plans to release the data -
from its current drilling program.
That equates to 170% to 260% potential return.
On the flip side, assuming a conservative $1.00 EV/BOE on
the company’s estimated 525 million barrels (and no additions
to reserve estimates next year), you get a stock price
of $2.27 per share.
If you like to look at things from a upside-downside point
of view, you get a ratio ranging from 4.2x to 6.4x depending
on whether you use $10.31 or $13.75 for the upside.
That’s over the next year.
It’s important to note that that company to date has only drilled
less than 2% of its land.
Management believes that its land holds 4 to 6 additional projects
of equal magnitude to its current project.
Although the timing of those additional projects is unclear,
the potential of those projects could be enormous.
2. Holy acreage Batman!
When most of us think of oil sands, we immediately think of
the Alberta province of Canada.
Can you say Saskatchewan?
CanWest currently controls an enormous amount of land in
Saskatchewan, which turns out to be the largest contiguous oil
sands acreage position in Canada.
Specifically, the company holds permits to 850,000 acres in
the Saskatchewan province of Canada.
However, the company has to relinquish 342,000 acres back
to the Saskatchewan government in the future.
Even after the required give-back, the company will have control
of 508,000 acres.
To put that in perspective 508,000 acres equates to 70% of
the combined acreage of Shell, Suncor, Syncrude, Synenco/Sinopec,
UTS/Petro Canada/Teck and Total S.A./Enerplus.
All told, those companies control 700,000 acres of oil sands
property.
3. Experienced management with track record of success.
The company is headed by Chris Hopkins, an industry veteran
of more than 30 years.
This isn’t Hopkins’ first dealing with oil sands;
he helped found Synenco and pioneered its drilling program,
which has proved 2.4 billion barrels of bitumen and is expected
to produce 100,000 barrels per day of synthetic crude by 2010.
Importantly, management has been on time with meeting its stated
goals over the past year, which should give you comfort that
future milestones will be met on time as well.
4. Third party data so you don’t have to believe what management says.
If you are one of those people who tends to take company estimates
with a chunk of salt, this might make you feel better.
Independent drilling data was released on August 29, 2006 by
Norwest, the same company who assessed reserves for Synenco
as well at a number of bellweather oil sands companies.
According to the management, the individual who did the assessment
for BQI was the same person who did the evaluation of Synenco’s
core samples.
Norwest’s reserve estimate was 525 million barrels.
Making that estimate more impressive is the fact that CanWest
only spent $10 million to find that 525 million barrels.
That equates to a finding cost of only $0.02 per barrel.
5. Under-followed stock with no institutional sponsorship.
Currently, BQI is not covered by any investment banks or brokers
and only a couple of selectively-disseminated newsletters.
That is because up until August 24, 2006, the stock has been
listed on the bulletin board.
However, with the Amex listing, the stock will undoubtedly get
put onto institutional investor radars, especially as management
gets the BQI story out and get a message forum on Yahoo as
all other AMEX listed companies got as normal if not a particular
group are doing the discriminatory acts?
6. Weak oil and gas investor sentiment has brought the boat back
to shore.
Despite releasing 3rd party reserve estimates and getting its
shares listed on Amex, BQI shares are hovering at $3.82 per share,
or 57% below its 52-week high reached on May 10, 2006.
Importantly, back then, the company had not been listed on Amex
yet and hadn’t released its estimates on potential reserves.
The culprit leading to the decline in BQI’s share price is
undoubtedly the weakness in oil prices, which have recently seemed
to settle at the $60 per barrel area about a week ago.
The weak oil prices effectively brought the BQI boat back to shore
for all investors who hadn’t heard of CanWest until recently.
“Better listing + more reliable reserve estimates = lower stock
price?”
Not in this math class.
It’s more like “better listing + more reliable reserve estimates +
lower stock price = buying opportunity.”
7. Invest in BQI and you’ll be in good company.
Resolute Funds, Fidelity, and Wellington are listed among BQI’s
top shareholders, owning 4.9%, 4.3%, and 3.5% of outstanding
shares, respectively.
If my analysis is faulty, at least I know I’m as dumb as some
of the smartest guys on the street.
8. Management now has a new, more-polished investor presentation
and is becoming more active on the road show front.
After seeing BQI’s management investor presentation several weeks
ago, and again just recently, I have to say I am pleasantly
impressed with the movement up the learning curve.
The first presentation I attended was lengthy, detailed, and
contained some good information, but definitely lacked the zip
needed to get me excited about the BQI story.
Just the other day, I saw management present again.
This time, the presentation was much more concise and contained
only data and information critical to an investment decision.
Kudos to management for giving the Street the information it needs,
in a way that can get it excited about the BQI story.
Recently, the company has been through Boston and New York,
among other places, visiting potential institutional and
retail investors.
9. Perfect story for the sell side.
Based on my knowledge of what sell side guys look for in
new coverage ideas, I believe the BQI story is perfectly ripe
for an initiation.
The company story is unique, straight forward, and, for the
most part, unknown.
Moreover, the stock has a fully-diluted market cap of about
$820 million and has traded about 2 million shares per day
over the last 6 months, which makes it relatively liquid
(granted, the volume has been lighter in recent weeks).
With the potential for significant upside over the next year,
driven by specific events, I’d have to think that more than
one sell side analyst is just waiting to pull the trigger
on his/her initiation.
Note: I garnered a large portion of the information for this
article from The Berry Report available to everyone CanWest’s
IR company website.
http://today.reuters.com/stocks/InstHolders.aspx?symbol=BQI&fs=1
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------------
True Energy Trust compared to BQI=CanWest , SU=Suncor and ECA=Encana -
welcome - here is some more TUI.IN info -
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CanWest Petroleum and Oilsands Quest Announce Assessment
of Bitumen Resources from Independent Geologists -
CanWest Petroleum and Oilsands Quest Announce Assessment
of Bitumen Resources from Independent Geologists -
CanWest Petroleum Corporation -
(AMEX: BQI) and its subsidiary -
Oilsands Quest Inc. -
announce receipt of the independent geological consultants'
assessment of in-place volumes of bitumen in the area
covered by Oilsands Quest's Phase I drilling program
in northwest Saskatchewan -
The Phase I program consisted of drilling on two blocks
on Oilsands Quest's Permit PS00210, located in Township 95,
Ranges 24 and 25 West of the Third Meridian.
The combined Original-Bitumen-In-Place (OBIP) High Estimate
for the two blocks drilled is 525 million barrels.
In the west block drilled, the OBIP High Estimate is
449 million barrels and is based on geological modeling
that included 13 bitumen bearing drill holes.
In the east block drilled, the OBIP High Estimate is
76 million barrels and is based on geological modeling
that includes only 6 bitumen bearing drill holes.
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.
The OBIP estimate was based on the evaluation of cores
and well log data from holes drilled in the Phase I program.
The estimate, prepared by Norwest Corporation of Calgary,
was made in accordance with the Canadian Oil and Gas
Evaluation Handbook (COGEH), which is a primary reference
for reporting resources under National Instrument
51-101 Standards of Disclosure for Oil and Gas Activities.
The COGEH can be obtained online
(http://www.petsoc.org).
Norwest's estimate is classified as a "P10 High Estimate",
which is consistent with the reporting guidelines of
National Instrument 51-101 and COGEH.
Norwest's OBIP High Estimate of 449 million barrels
for the west block is based on extrapolation of the
drilling data out to approximately 1,000 metres from
the nearest drill hole.
Management's OBIP estimate of 250 million barrels,
which was announced on July 6, 2006, is based on
extrapolation of the drilling data out to approximately
600 metres from the nearest drill hole.
"The Norwest assessment is consistent with our internal
numbers," said Christopher H. Hopkins, President and
Chief Executive Officer of CanWest Petroleum.
"It is a reflection of the confidence Norwest is able
to assign to the results of our exploration program."
The areas covered in the OBIP estimate represents
approximately 1.4 percent of Oilsands Quest's total
permit lands and are located 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.
Assumptions about the commercial viability of resource
potential or whether currently commercial recovery
processes will be effective cannot be determined
without further drilling and analysis.
Summer & Winter 2006 Exploration Plan
Up to 250 test holes are planned for Oilsands Quest's -
summer 2006 and winter 2006 drilling programs -
which will include about 100 holes in the discovery area -
and up to 150 holes in a larger area to identify -
resource leads.
Updated Web Site
The web sites of CanWest Petroleum and Oilsands Quest
have been combined and are now updated -
http://www.canwestpetrolem.com
or
http://www.oilsandsquest.com
About CanWest
CanWest Petroleum,
a public company incorporated in the State of Colorado,
is engaged in a variety of projects in the oil and gas
industry in Western Canada with an emphasis on oil sands
and oil shale.
Its lead project is an oil sands exploration program
being conducted in the Province of Saskatchewan by
its subsidiary, Oilsands Quest Inc.
Forward-Looking Information
Except for statements of historical fact relating to----or opinions should change except as required by law.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Cautionary Note
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995:-----other factors discussed in
CanWest Petroleum Corporation's various filings with
the Securities and Exchange Commission.
Cusip# 138 748 108
Source: Market Wire (August 29, 2006 - 6:30 AM EST)
News by QuoteMedia
www.quotemedia.com
http://www.investorshub.com/boards/quotes.asp?ticker=BQI&qm_page=75486&qm_symbol=BQI
http://www.investorshub.com/boards/board.asp?board_id=6668
Drilling at first well -
(6 -11 - T95 - R25 W3)
http://www.oilsandsquest.com/our_projects/oqi_gallery.html
BQI - Institutional Holders Summary -
for
CanWest Petroleum Corp -
(BQI - American Stock Exchange) -
3.61 USD -0.07 (-1.90%)
Risk Alert for BQI
sponsored by
% Shares Owned: 7 # New Buyers: 4
# Institutions: 8 # Closed Positions: 0
Total Shares Held: 9,119,956 # Buyers: 6
3 Mo. Net Change: 3,995,506 # Sellers: 2
Price Range Quarter: $3.31 - $5.95 # Net Buyers: 4
BEWARE:
The New Buyers: 4 may be banksters? -
http://video.google.com/videoplay?docid=-3254488777215293198
the banksters control the negative gypsy pawns -
the banksters want all for peanuts -
the banksters send their gypsy clowns to bash it down -
to fool You out for nothing -
http://today.reuters.com/stocks/InstHolders.aspx?symbol=BQI&fs=1
http://today.reuters.com/stocks/InstHolders.aspx?symbol=BQI&fs=1
http://www.investorshub.com/boards/quotes.asp?ticker=bqi
http://www.investorshub.com/boards/board.asp?board_id=6668
CanWest Petroleum is the major player in Saskatchewan's
oilsands.
It is beginning to dawn on Americans (and Canadians) that
Canada's oilsands are becoming strategically important.
Our seminars last week featured presentations by CanWest
Petroleum's (AMEX: BQI, BullBoards) CEO Chris Hopkins.
He was able to reveal the ongoing discovery potential in
the company.
Chris believes there will be much more discovery on the
company's Saskatchewan properties.
Only 1.5% of the 508,000 acre position has been explored.
This drilling season, 250 wells will be drilled.
One hundred of those will be used to delineate the current
discovery area.
This could expand the resource to two billion barrels.
An additional 150 holes will be drilled to discover new
areas hopefully similar in size to the Alberta fields.
I have used the Enterprise Value ratio to value CanWest.
Companies in Alberta are paying about $1 per recoverable
barrel of bitumen in the ground for Alberta's oilsands
resources.
I am convinced that these ratios must increase in the
next five years significantly.
This means that CanWest's value should also increase
significantly- both from further discovery and
delineation, and from increased valuation ratios.
This AM I read in the National Post that the four candidates
seeking the Premier's job in Alberta are using the issue
of the over heating at Fort McMurray, which is the chief
population centre adjacent to Alberta's oilsands, to try
to slow things down.
For example one of the pretenders to the Premier's chair
has suggested allowing only one new mine to be developed
at a time.
Numerous other issues, mostly impractical, have been raised.
These are all raised to stoke public fear of the overheating
and "inflationary" oilsands and raise issues that create
political clout.
They do, however, bring the oilsands of Saskatchewan back
into focus.
Saskatchewan has a long history of oil exploration and
production.
It has developed upgrading facilities (at Lloydminster)
and infrastructure.
There is an ample labor force in Saskatchewan with high
unemployment in many of the remote areas.
A major north south highway runs within 30 miles of
BQI's property.
This means that the Saskatchewan oilsands discoveries are
likely to find additional value from the politics in Alberta.
The unique feature about the Saskatchewan story is that one
company -- and only one company -- now has a very large
position in that Province's oil sands.
That company is CanWest Petroleum.
My suggestion is that there are many catalysts and much
value-added for the CanWest story.
Be advised.
Report by Dr. Berry -
is now a proponent of what he calls
"discovery investing."
http://www.investorshub.com/boards/board.asp?board_id=6668
CanWest Petroleum and Oilsands Quest Announce Assessment
of Bitumen Resources from Independent Geologists -
CanWest Petroleum and Oilsands Quest Announce Assessment
of Bitumen Resources from Independent Geologists -
CanWest Petroleum Corporation -
(AMEX: BQI) and its subsidiary -
Oilsands Quest Inc. -
announce receipt of the independent geological consultants'
assessment of in-place volumes of bitumen in the area
covered by Oilsands Quest's Phase I drilling program
in northwest Saskatchewan -
The Phase I program consisted of drilling on two blocks
on Oilsands Quest's Permit PS00210, located in Township 95,
Ranges 24 and 25 West of the Third Meridian.
The combined Original-Bitumen-In-Place (OBIP) High Estimate
for the two blocks drilled is 525 million barrels.
In the west block drilled, the OBIP High Estimate is
449 million barrels and is based on geological modeling
that included 13 bitumen bearing drill holes.
In the east block drilled, the OBIP High Estimate is
76 million barrels and is based on geological modeling
that includes only 6 bitumen bearing drill holes.
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.
The OBIP estimate was based on the evaluation of cores
and well log data from holes drilled in the Phase I program.
The estimate, prepared by Norwest Corporation of Calgary,
was made in accordance with the Canadian Oil and Gas
Evaluation Handbook (COGEH), which is a primary reference
for reporting resources under National Instrument
51-101 Standards of Disclosure for Oil and Gas Activities.
The COGEH can be obtained online
(http://www.petsoc.org).
Norwest's estimate is classified as a "P10 High Estimate",
which is consistent with the reporting guidelines of
National Instrument 51-101 and COGEH.
Norwest's OBIP High Estimate of 449 million barrels
for the west block is based on extrapolation of the
drilling data out to approximately 1,000 metres from
the nearest drill hole.
Management's OBIP estimate of 250 million barrels,
which was announced on July 6, 2006, is based on
extrapolation of the drilling data out to approximately
600 metres from the nearest drill hole.
"The Norwest assessment is consistent with our internal
numbers," said Christopher H. Hopkins, President and
Chief Executive Officer of CanWest Petroleum.
"It is a reflection of the confidence Norwest is able
to assign to the results of our exploration program."
The areas covered in the OBIP estimate represents
approximately 1.4 percent of Oilsands Quest's total
permit lands and are located 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.
Assumptions about the commercial viability of resource
potential or whether currently commercial recovery
processes will be effective cannot be determined
without further drilling and analysis.
Summer & Winter 2006 Exploration Plan
Up to 250 test holes are planned for Oilsands Quest's -
summer 2006 and winter 2006 drilling programs -
which will include about 100 holes in the discovery area -
and up to 150 holes in a larger area to identify -
resource leads.
Updated Web Site
The web sites of CanWest Petroleum and Oilsands Quest
have been combined and are now updated -
http://www.canwestpetrolem.com
or
http://www.oilsandsquest.com
About CanWest
CanWest Petroleum,
a public company incorporated in the State of Colorado,
is engaged in a variety of projects in the oil and gas
industry in Western Canada with an emphasis on oil sands
and oil shale.
Its lead project is an oil sands exploration program
being conducted in the Province of Saskatchewan by
its subsidiary, Oilsands Quest Inc.
Forward-Looking Information
Except for statements of historical fact relating to the
companies, 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" and other similar words,
or statements that certain events or conditions "may"
or "will" occur. Forward-looking statements such as
the estimate of OBIP, the references to Oilsands Quest's
anticipated summer 2006 exploration program and winter 2006
drilling program and capital expenditures relating to,
and timing of, such programs 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.
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 OBIP, including many factors beyond the companies'
control, and no assurance can be given that the indicated
level of OBIP or the recovery thereof will be realized.
In general, estimates of OBIP are based upon a number of
factors and assumptions made as of the date on which the
resource estimates were determined, such as geological and
engineering estimates which have inherent uncertainties.
The OBIP estimate for the lands described in this news
release may not reflect the same confidence level as
estimates of OBIP for Oilsands Quest's total permit lands,
due to the effects of aggregation. Oilsands Quest has not
drilled on any other areas of its permit lands to date.
The companies undertake 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.
Cautionary Note
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995:-----other factors discussed in
CanWest Petroleum Corporation's various filings with
the Securities and Exchange Commission.
Cusip# 138 748 108
Source: Market Wire (August 29, 2006 - 6:30 AM EST)
News by QuoteMedia
www.quotemedia.com
http://www.investorshub.com/boards/quotes.asp?ticker=BQI&qm_page=75486&qm_symbol=BQI
http://www.investorshub.com/boards/board.asp?board_id=6668
Drilling at first well -
(6 -11 - T95 - R25 W3)
http://www.oilsandsquest.com/our_projects/oqi_gallery.html
BQI - Saskatchewan's Oil Sands
Dave Forest, senior analyst, Casey Research
http://www.robtv.com/servlet/HTMLTemplate/!robVideo/robtv0726.20060926.00043000-00043296-clip1/h/220....
http://www.investorshub.com/boards/board.asp?board_id=6668
$80 to $100 avg. oil price for 2007
Market Call with Jim O'Connell
The Big Picture: Bull vs. Bear
Jeff Rubin, chief economist and strategist,
CIBC World Markets
Predicts $80 to $100 avg. oil price for 2007
Top pick are Oil Sand companies,
because they will benifit from expanding production
others companies will have depleting production
Posted By: ujaack
Post Time: 9/20/2006
RE: SUBJECT: $80 to 100 avg. oil price for 2007 link
12C3NTER AREA EN/FONT>
Market Call with Jim O'Connell
The Big Picture: Bull vs. Bear
Jeff Rubin, chief economist and strategist,
CIBC World Markets
Predicts $80 to $100 avg. oil price for 2007
Top pick are Oil Sand companies, because they will benifit
from expanding production others companies
will have depleting production
http://www.robtv.com/servlet/HTMLTemplate/!robVideo/robtv0726.20060920.00043000-00043147-clip2/h/220....
Posted By: ujaack
Post Time: 9/20/2006
17:39
RE: shortchange, I am looking for a bounce -
when it hits 3.50...
I expect back to 5.7 soon thereafter.. jmo
btw. when yahoo stop the manipulations? -
it will be more positive for BQI -
BQI - has been listed on AMEX a month and still
not got a messageboard on yahoo -
normal standard has been that other companies -
listed on AMEX -
got a yahoo messageboard next day? -
the BQI yahoo chart shows Suncor name a the
top for BQI? -
its a lot of baby problems to be
worked out? -
before BQI gets a normal listing
with yahoo ??? -
ex. without be bashed down by yahoo new nonsens -
or manipulations? -
Note. I have e-mailed yahoo and they have not corrected
any of their new problems and wrong doings? -
http://www.amex.com./?href=/equities/listCmp/EqLCCmpDesc.jsp?Product_Symbol=BQI
CanWest Petr. Corp. Rings AMEX Opening Bell -
CanWest Petroleum Corporation Rings the Opening Bell -
American Stock Exchange Events -
August 29, 2006
The members and employees of -
The American Stock Exchange welcome -
CanWest Petroleum Corporation (BQI) -
as they ring the Opening Bell -
to celebrate their listing -
Well, BQI is starting to GO UP -
its long way to Go before -
Fair Value $600.-/share -
TIA
http://www.canwestpetroleum.com
http://www.investorshub.com/boards/board.asp?board_id=6668
RE: question is what has happen to other stock
when they hit the AMEX exchange -
The large pension & investors large mutual funds -
are now allowed to enter the CWPC / BQI -
when its goes above $4 - 5 on AMEX -
it often becomes a new darling -
The Largest Known Oil Reserves In The World -
All Welcome to the CanWest Petroleum Corporation discussion board -
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.amex.com./?href=/equities/listCmp/EqLCCmpDesc.jsp?Product_Symbol=BQI
Posted By Wheeler at another BQI forum.
CanWest Petroleum - NEWS - Oilsands Quest -
Announce Assessment of Bitumen Resources -
from Independent Geologists -
CanWest Petroleum and Oilsands Quest Announce Assessment
of Bitumen Resources from Independent Geologists -
Tuesday August 29, 7:30 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Aug 29, 2006 --
CanWest Petroleum Corporation -
(AMEX:BQI - News) -
and its subsidiary, Oilsands Quest Inc.,
announce receipt of the independent geological consultants'
assessment of in-place volumes of bitumen in the area covered by
Oilsands Quest's Phase I drilling program in northwest
Saskatchewan.
The Phase I program consisted of drilling on two blocks
on Oilsands Quest's Permit PS00210, located in Township 95,
Ranges 24 and 25 West of the Third Meridian.
The combined Original-Bitumen-In-Place (OBIP) High Estimate
for the two blocks drilled is 525 million barrels.
In the west block drilled, the OBIP High Estimate is 449 million
barrels and is based on geological modeling that included 13
bitumen bearing drill holes.
In the east block drilled, the OBIP High Estimate -
is 76 million barrels and is based on -
Note. geological modeling -
that includes only 6 bitumen bearing drill holes -
http://www.amex.com/?href=/newsDetails/CmnNewsDet.jsp?id=XpressFeed_NewsDetails_1156851082874.html
http://www.oilsandsquest.com/our_projects/oilsands_quest.html
http://biz.yahoo.com/iw/060829/0158140.html
http://www.investorshub.com/boards/board.asp?board_id=6668
CanWest Petroleum Corporation Announces Listing -
on the American Stock Exchange -
CanWest Petroleum Corporation Announces Listing -
on the American Stock Exchange -
CanWest Petroleum Corporation -
(AMEX: BQI) announces today that its common stock will
begin trading this morning on the American Stock Exchange
("Amex") under the trading symbol "BQI".
The company selected AGS Specialist Partners as its
specialist.
"We anticipate that our listing on
the American Stock Exchange will provide our shareholders
with a more efficient trading market, and thus provide
us with enhanced shareholder value," said T. Murray Wilson,
the Company's Executive Chairman.
"We are pleased to welcome CanWest Petroleum Corp.
to the American Stock Exchange," said John McGonegal,
Senior Vice President of the Amex Equities Group.
"Many energy companies have chosen the Amex as their home,
and we are confident we can offer CanWest Petroleum
the value-added services that a growing company needs
to succeed in today's competitive market."
To recognize its listing on Amex, the Company has been
invited to participate in the traditional opening bell
ringing ceremony at the exchange on Tuesday morning,
August 29, 2006.
T. Murray Wilson and Christopher H. Hopkins, President
and Chief Executive Officer and other officials of
the Company plan to be in New York to participate
in the ceremony.
The Company also announces that it intends to launch its
updated web site on Tuesday, August 29, 2006 -
(www.canwestpetroleum.com).
CanWest Petroleum is engaged in a variety of projects
in the oil and gas industry in Western Canada with an
emphasis on oil sands and oil shale.
Its lead project is an oil sands exploration program
being conducted in the Province of Saskatchewan by its
subsidiary, Oilsands Quest Inc.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: ---- discussed in CanWest Petroleum
Corporation's various filings with the Securities and Exchange
Commission.
Cusip# 138 748 108
http://www.investorshub.com/boards/board.asp?board_id=6668
XOM vs BQI will be intresting to follow -
New York, August 24, 2006 - The American Stock Exchange (Amex) today listed the common shares of CanWest Petroleum Corporation, under the trading symbol BQI -
The Largest Known Oil Reserves In The World -
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.amex.com/?href=/atamex/news/press/sn_BQI_082406.htm
Great Info - 'Rocky_2' on 'CanWest Petroleum Corporation' -
Play Video -
http://www.oilsandsquest.com/
Play Video
http://www.investorshub.com/boards/board.asp?board_id=6668
American Stock Exchange NEWS Lists Common Stock of -
CanWest Petroleum Corporation -
American Stock Exchange Lists Common Stock of -
CanWest Petroleum Corporation -
Thursday August 24, 9:30 am ET
NEW YORK, Aug. 24 /PRNewswire/ --
The American Stock Exchange® (Amex®) -
today listed the common shares of
CanWest Petroleum Corporation -
under the trading symbol - BQI -
http://tinyurl.com/zbct5
CanWest Petroleum Corporation -
is engaged in a variety of projects in the oil
and gas industry in Western Canada
with an emphasis on oil sands and oil shale.
Its lead project is an oil sands exploration program
being conducted in the Province of Saskatchewan
by its subsidiary -
Oilsands Quest Inc.
"We are pleased to welcome -
CanWest Petroleum Corporation -
to the American Stock Exchange," -
said John McGonegal -
Senior Vice President of -
the Amex Equities Group.
"Many energy companies have chosen the Amex
as their home, and we are confident we can offer
CanWest Petroleum the value-added services
that a growing company needs to succeed in today's
competitive market."
"We anticipate that our listing on the American Stock
Exchange will provide our shareholders with a more
efficient trading market, and thus provide us with
enhanced shareholder value," said T. Murray Wilson,
the Company's Executive Chairman.
CanWest Petroleum Corporation
has selected AGS Specialist Partners as its specialist.
For further information on
BQI and other Amex-listed companies, please visit -
http://www.amex.com.
The American Stock Exchange® (Amex®)
is the only primary exchange that offers trading across a
full range of equities, options and exchange traded funds
(ETFs), including structured products and HOLDRS(SM).
In addition to its role as a national equities market,
the Amex is the pioneer of the ETF, responsible for
bringing the first domestic product to market in 1993.
Leading the industry in ETF listings, the Amex lists 190
ETFs to date.
The Amex is also one of the largest options exchanges in
the U.S., trading options on broad-based and sector indexes
as well as domestic and foreign stocks.
Source: The American Stock Exchange
http://www.investorshub.com/boards/board.asp?board_id=6668
CanWest Petroleum Corp. - DL (8/22/2006 4:03 AM)
CWPC (BQI-AMEX) Last: $5.19 -
Change: +0.32(+6.57%)
Volume: 3.6 m
Last Trade: 8/21/06
CanWest Petr. Approved on the AMEX -
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.investorshub.com/boards/read_msg.asp?message_id=12767233
CWPC Chart - Looks to break out here.
Lagging indicators have awakened.
Downtrend lines await violation of the worst kind -
Posted by: fringe_remnant - thanks,
TA - TI - very good bullish start to -
break out!
CanWest Petr. Approved on the AMEX -
CanWest Petroleum Corporation receives approval for listing of shares on the American Stock Exchange -
Fri Aug 18, 2006
CanWest Petroleum Corporation receives approval for listing of shares on the American Stock Exchange -
CUSIP# 138 748 108
Trading Symbol: OTC BB CWPC
Calgary, Alberta -- The American Stock Exchange ("Amex")
has approved the application by CanWest Petroleum Corporation
(the "Company") (OTCBB: CWPC) for the listing of the
Company's common stock on Amex under the trading symbol "BQI".
T. Murray Wilson, Executive Chairman of the Board of Directors
of CanWest Petroleum Corporation, said,
"We are very excited about our listing on
the American Stock Exchange.
We hope to benefit from the array of support the Exchange
provides to its listed companies, and to enhance shareholder
value as a result of the listing."
CanWest Petroleum -
has selected AGS Specialist Partners as its specialist.
The Amex listing approval is contingent upon the Company
being in compliance with all applicable listing standards
on the date it begins trading on Amex, and may be
rescinded if the Company is not in compliance with such
standards.
The Company expects to begin trading on Amex on -
Thursday, August 24, 2006.
About CanWest Petroleum
CanWest Petroleum,
a public company incorporated in the State of Colorado,
is engaged in a variety of projects in the oil and gas
industry in Western Canada with an emphasis on oil sands
and oil shale.
Its lead project is an oil sands exploration program being
conducted in the Province of Saskatchewan by its subsidiary,
Oilsands Quest Inc.
To obtain more information on CanWest Petroleum,
visit the Company's web site
http://www.canwestpetroleum.com
About the American Stock Exchange
The American Stock Exchange is the only primary exchange
that offers trading across a full range of equities, options
and exchange traded funds (ETFs), including structured
products and HOLDRSSM.
In addition to its role as a national equities market,
the Amex is the pioneer of the ETF, responsible for bringing
the first domestic product to market in 1993.
Leading the industry in ETF listings, the Amex lists 188 ETFs
to date.
The Amex is also one of the largest options exchanges in
the U.S., trading options on broad-based and sector indexes
as well as domestic and foreign stocks.
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.
For more information:
Institutional investors, contact The Buick Group
Toll Free 1-877-748-0914
Office 416-915-0915
Email jbuick@buickgroup.com
Retail investors, contact Hedlin Lauder Investor Relations Ltd.
Toll Free 1-800-299-7823
Office 403-232-6251
Email investorrelations@hedlinlauder.com
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.investorshub.com/boards/board.asp?board_id=5409
Oilsands Quest - a subsidiary of CanWest Petroleum -
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.
http://biz.yahoo.com/iw/060816/0154646.html
http://www.investorshub.com/boards/board.asp?board_id=5409
CWPC - Greatest Land Holdings Safety In the World -
Money Masters: Federal Reserve History part 1 of 3 -
http://video.google.com/videoplay?docid=8442305921010099392&q=conspiracy
Money Masters: Federal Reserve History part 2 of 3 -
http://video.google.com/videoplay?docid=5020331178524208549&q=conspiracy
Money Masters: Federal Reserve History part 3 of 3 -
http://video.google.com/videoplay?docid=6666372716915416357&q=conspiracy
Got CWPC Safety? -
The Largest Known Oil Reserves In The World -
http://www.investorshub.com/boards/board.asp?board_id=5409
cwpc on the move today up .70
Jan 2006 " Oil Sands - 60 Minutes" Documentary -
The Oil Sands Of Alberta & Saskatchewan's Canadian Oil Sands -
Where Black Gold And Riches Can Be Found -
In The Oil Sands -
CBS Correspondent Bob Simon (WMV)
MUST LISTEN /GREAT INTERVIEW/HOPKINS -
http://www.secureretirement.ca/
January 2006 "60 Minutes" documentary -
Here's the link -
http://content.thewebvideo.com/Vidz/Oilsands.wmv
Alberta and Saskatchewan's Oil Sands -
ROBTV - The Street with Bridgitte Anderson -
Dave Forest, senior analyst, Casey Research -
http://ad.ca.doubleclick.net/adx/video.robtv.com/video;mode=d;feed=vod;spd=h;product=video;video_id=....
http://www.robtv.com/articles/rob.tv/335/oilprograms.html
The Largest Known Oil Reserves In The World -
http://www.investorshub.com/boards/board.asp?board_id=6668
http://www.oilsandsquest.com/our_projects/index.html
http://www.oilsandsquest.com/investor_information/presentations/ir_presentation_22_09_06.pdf
http://www.canwestpetroleum.com/
http://tinyurl.com/7qfdp
CWPC Largest Crude Oil Tar Sand Land Holdings -
Saudi Arabia look out -
The bitumen-laden dirt in Northern Alberta and Saskatchewan's
Oil Sands is expected to yield billions of barrels of oil,
making Canada a huge supplier of energy to the world.
With skyrocketing oil prices, this “black gold” is fuelling
Canada’s economy to capacity and providing huge returns for
investors.
The rapid pace of development is straining the infrastructure.
Report on Business Television talks to leading CEO’s,
industry experts and others in a comprehensive exploration
of this Canadian gold rush story.
It’s do-not-miss coverage for investors and investors-to-be!
http://www.oilsandsquest.com/our_projects/index.html
http://otcfn.com/cwpc/articles/cwpc_profile.pdf
http://tinyurl.com/c8uws
http://tinyurl.com/9rwct
http://tinyurl.com/99lky
http://www.investorshub.com/boards/board.asp?board_id=6668
CanWest Petroleum Corporation: Core Drilling Started
December 18 Firebag East Athabasca Oil Sands
Project
http://tinyurl.com/b7nrp
CWPC TA S-Chart *** Alert bullish flag ***
a falling wedge is usually bullish -
PerfChart - Interactive Performance Comparison Chart -
http://stockcharts.com/webcgi/perf.html?CWPC,COS/UN.TO,XOM,SU,ECA,VLO
http://tinyurl.com/c3sza
Stick with the winners - follow the Flow -
Go with the trend -
http://tinyurl.com/7setf
Let's ride them until you have a clear reason to sell -
Let our profits ride - very large profit trades -
can only come from following the long term trends -
to the end of the trend -
It's not how much we make, it's how much we keep -
that matters.
http://finance.yahoo.com/q?s=cwpc.ob
http://biz.yahoo.com/bw/060206/20060206006003.html?.v=1
http://www.canwestpetroleum.com/s/Home.asp
Tia. Brgds.
Money Masters: Federal Reserve History part 1 of 3
http://video.google.com/videoplay?docid=8442305921010099392&q=conspiracy
Money Masters: Federal Reserve History part 2 of 3
http://video.google.com/videoplay?docid=5020331178524208549&q=conspiracy
Money Masters: Federal Reserve History part 3 of 3
http://video.google.com/videoplay?docid=6666372716915416357&q=conspiracy
sydneypeakoil.com/phpBB3/index.php
The big picture -
http://www.netcastdaily.com/broadcast/fsn2007-0210-3a.m3u
http://www.sim.org/
http://www.vatican.va
http://tinyurl.com/365wag
Welcome to the Crude Oil Tar Sand Companies discussion board
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