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To 'Gateway_Stocks' -
this board used to be active for CanWest Petroleum -
which name has been changed to Ollsands Quest Inc. -
the board was inactive and not updated etc. -
The name has lately been changed to Ollsands Quest Inc. -
the right name is:
Oilsand Quest Inc. -
and the active BQI board -
Est. # 1 for BQI -
http://investorshub.advfn.com/boards/board.asp?board_id=6668
----
Matt has said that this the board will remain for
history purpose - for CanWest Petroleum -
why the name been changed since I don't know?
Bob
BQI board LINK is below in case you came here looking for the BQI board...it is a great stock and don't know why there are 2 boards for it on Ihub?
http://investorshub.advfn.com/boards/board.asp?board_id=6668
BQI - 10 billion barrels, is based on the following evaluations:
http://www.investorshub.com/boards/read_msg.asp?message_id=21179576
wake up buyers,bqi is $2.70,im buying
Has anyone seen news about an imminent attack by the USA to Iran scheduled for April 6. If that happens and the Iranians follow thorugh the threat of shutting down the flow of oil from baharain, Quatar, Kuwait, Dubai, SAI, and of course Iran and Iraq Oil will jump to GOD only know what price. BQI should make a nice profit or am I wrong?
The purchase of over 21 million dollars in property with permits and completed drilling should actually put this company in at least a $6 to $7 range. I am shocked it has not gone higher that $4.
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
picked this one up a few days ago at 3.10 quickly turned it around at 3.50. But i think it may have some legs to go to the mid 4s or 5 by June..pending on the price of crude.
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.
http://www.investorshub.com/boards/board.asp?board_id=6668
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
You can't search pimp.
I already can check public messages and respond to them, so you must mean something else, I can check all messages on the board I go to, its just no one seems to be posting on cwpc
If you would have a Premium subscription,you would be able to do a check of CWPC "Public Messages",and you would get info such as this:
http://www.investorshub.com/boards/msgsearch.asp?txt2find=cwpc
I have benefited in profits for my Premium service many times over.
Manny
CWPC Chart
Looks to break out here. Lagging indicators have awakened. Downtrend lines await violation of the worst kind.
I thought Ihub was suppose to be the best board for stocks. news like this has had lately and today and it had 4 posts and 3 saying the same thing, wow, glad I didnt pay to sign up here.
hi bob, can you tie this one with bqi or have matt changed the symbol here. some good messages here.
i'm a shareholder.
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
Congratulations to all -
Brgds
Bob
CWPC to be listed on AMEX!
http://biz.yahoo.com/iw/060818/0155381.html
Congrats all.
CWPC to be listed on AMEX!
http://biz.yahoo.com/iw/060818/0155381.html
Congrats all.
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 closed $4.42 up .66.
Next to run huge is PFNC [oil] imho. Check charts.
http://stockcharts.com/h-sc/ui?s=PFNC&p=D&b=5&g=0&id=p74264348959
.80-1.20 run coming for PFNC. Last run from .30s went to .70s. Next on much higher imho. Only about 50 Million OS there.
CWPC 5's coming soon as well. Good time to be in OIL or long. Markets are turning!
CWPC
Im expecting big things out of CWPC the next few weeks/months. Watch it close...shes gonna surprise you all. Oil is hot and she will break over $4.00 again. Uptrend will start soon. =X
Forget it!! RB is a bashers only site. Let it go and join this site full time. I-hub really is the best longs financial message board site
I see the RB board has finially been turned to garbarge by wave, Dnthornz or who ever he is..,shame......RB is in on it.I cant post without getting a "cannot display page" and a "virus intrusion warning" when I try. Good Riddance!!!!!
It certainly made people money! Too late now as its nice run is gone.I guess a short position would be the way to go now.
Casey Research Special Bulletin: Collateral Damage May 17, 2006
CanWest is having a bad day. Here's what we know.
Last Friday we received a call from a reporter from Forbes working
on a story that, reading between the lines, seems to question
whether or not the CanWest concession is, in fact, a legitimate oil
sands play.
The nub of the issue, as we interpret it, has to do with one of the
early investors in the company, back when it was early stage with a
dream and a prayer of finding bitumen in Saskatchewan. (An entity
owned by us, DCDG, LLC., was also an investor at that stage, but
only with an inconsequential position—view the company's SB-2
Registration Statement by clicking on this link:
http://www.sec.gov/Archives/edgar/data/1096791/000114420406014740/v04
0271_424b3.txt)
While it is only conjecture at this point, our interpretation is
that Forbes is about to do one of its famous attack pieces on this
particular financier (who has nothing to do with the day-to-day
running of CanWest, by the way) and by extension CanWest. Looking at
today's price action, we can only surmise that word of the pending
article is getting around and those in the know are trying to get
out while the getting is good. In the same way that CWPC has risen
in near meteoric fashion, it now looks set to come off
substantially. Remember, the reverse side of a hockey stick is just
as steep as the front.
This same individual is more deeply involved with Brownstone
(V.BWN), another CEC pick that has done well. More on that in a
moment, but for now, let's stay with the CanWest story.
What's the smart move here? Run for cover, or view the sell-off as a
buying opportunity?
After listening to the reporter, we believe his initial
understanding of the CanWest property is a misunderstanding.
Starting with the fact that the financier in question is simply just
another investor in the company and has nothing to do with its
management. While many reporters write their stories in their minds
before setting a word to paper and ignore everything except
confirming facts—and that may well be the case here—our sense is
that this particular reporter is doing his homework. Hopefully,
between now and press time he'll get the data he needs to clear up
his concerns. If not, and if CWPC is painted with the same negative
brush as the companies actually managed by this individual, then the
fall-off in CWPC that began today could continue until after the
full impact of the article is felt--that is, after it hits the
stands in a week or so.
While the prudent thing to do is to pull your original investment
out of the stock, and that would be perfectly reasonable, after
double-checking our original work, we remain confident in the
company's new management team and the merits of its underlying
assets. As a result, we're holding on to our shares and will look
upon any continued fallout from the Forbes article as an excellent
speculative opportunity for a second bite at the apple.
Let me stress again that this is still largely in the realm of
conjecture. At press time, the reporter was still very much in
research mode, so there is a good chance he'll discover that the
CanWest story, as attention-grabbing as it has been, is completely
legitimate and will leave it out of his broader story. In which
case, we would expect to the stock to rebound, high and fast.
If you sell now (and some newer subscribers may even be selling at a
loss) and there is no story, then you could well miss the turnaround
and have to buy back in at higher prices. If he persists in putting
CanWest into his story, and the stock takes a further hit as a
result—possibly sending it below the $6.00 mark—then buying more
makes a lot of sense to us.
As with all investments, whether you stay, go, or buy more will be
more a matter of your psychology and personal financial situation
than anything else. As just mentioned, we are confident enough in
our work that we are holding and will look to buy with both hands
once it looks like CWPC has bottomed.
It's over here. One huge disappointment. Wall Street Journal is reporting that even the Saudis are considering giving up on heavy crude, the extraction costs are too prohibitive. CWPC has 2,500,293 shares short, twice the average daily volume. A negative EPS. This is a dry hole. I moved my capital to PRVB. Better have a look: $250,000,000 in guaranteed financing for the next five years with an option on the next ten for $500,000,000. Proven reserves of $700,000,000 with possible $1,000,000,000. CEO with 25 years oil and gas experience. Better than expected results on well production and earnings coming up on their 2Q's. Skilled, knowledgable, and accessible IR. Rapid growth. Clean balance sheet. Low short interest. Visit their web site. Do yourself a really big favor and contact IR on the phone. Things are happening with this company.
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
thanks for nothin, liein touts! oilsands! that was a great idea!!! Letsw drill holes for 2 more years! Hopkins out of retirement to get rich st our expense.
CWPC might bounce at 3.50
in the shorterm but in the longterm 2.30-2.70 might be seen. GLTA.
Im long but you are right, RB board has so many posters that bash and trash the stock. I have more on ignore than posts i read.
CanWest Petroleum and Oilsands Quest Announce Management's
Estimate of Bitumen Resources from Initial Drilling Program -
Thursday July 6, 4:35 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Jul 6, 2006 --
CanWest Petroleum Corporation -
(OTC BB:CWPC.OB - News) and
Oilsands Quest Inc. -
announce management's preliminary estimate of the original
bitumen resources in place (OBIP) in an area covered by Oilsands
Quest's Phase I drilling program in northwest Saskatchewan.
The program consisted of drilling on two blocks on Oilsands
Quest's 100-percent-owned Permit PS00210, located in
Township 95, Ranges 24 and 25 West of the Third Meridian.
It is approximately 50 kilometres (30 miles) east of
Suncor's Firebag operations.
Oilsands Quest's exploration permits were granted under
Saskatchewan's Oil Shale Regulations, 1964, and will
expire in 2009 unless converted to leases or further
extensions are granted.
The preliminary OBIP estimate is 250 million barrels
and is based on the west block, a four-section area of
Permit PS00210 surrounding 13 drill holes.
The east block will require further drilling before
management can provide an estimate.
In making the announcement, Christopher H. Hopkins,
President & Chief Executive Officer of Oilsands Quest,
said, "We continue to be delighted with the results of our
initial drilling program."
He also noted that assumptions about the commercial
viability of resource potential or whether currently
commercial recovery processes will be effective cannot
be made at this stage without further drilling.
The area covered in the OBIP estimate represents
less than one-half of one percent of Oilsands Quest's
total permit lands.
The OBIP estimate was based on the evaluation of cores
and well log data from holes drilled in the Phase I
drilling program.
OBIP is the gross volume of bitumen estimated, at a
particular time, to be initially contained in a reservoir
before any volume has been produced and without regard
for the extent to which volumes will be recovered.
In interim drilling results released on June 14, 2006,
CanWest Petroleum and Oilsands Quest also noted that
eight wells drilled in the best three-section block
had an average pay zone of 19 metres (62 feet),
with one hole having more than 28 metres (91 feet)
of pay.
Grades of bitumen saturation by weight for those eight
wells were up to 18 percent.
Of the 24 wells drilled in the program, 19 intersected
the bitumen-bearing McMurray formation, which represents
an 80 percent success rate.
Oilsands Quest is now focusing on plans for its winter
2006 drilling program, currently budgeted for
$35 million Cdn, which will cover a much larger area
in order to begin to quantify and qualify the nature
of the bitumen resources.
The company has received approval for a 150-well winter
2006 program and will apply for regulatory approval
for an additional 100 holes.
It has eight core drilling rigs committed to the winter
2006 program.
In addition, Oilsands Quest has applied for a summer
2006 exploration program consisting of drilling with
one rig, geophysical evaluation and construction of
additional infrastructure in preparation for the 2006
winter program.
In this area of Saskatchewan, the winter drilling season,
which is dependent on weather conditions, is typically
from November to April.
CanWest Petroleum Corporation owns a 60.7 percent
interest, on a fully diluted basis, in Oilsands Quest Inc.
On June 12, 2006, CanWest Petroleum and Oilsands Quest
announced that the companies entered into an agreement
that provides for the combination of the two companies;
this transaction is expected to be completed on
August 14, 2006.
Forward-Looking Information....
-- Cautionary Note ---
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
Contact:
Contacts:
CanWest Petroleum Corporation
Jonathan Buick
1-877-748-0914 or (416) 915-0915
investor@canwestpetroleum.com
Source: CanWest Petroleum Corporation
http://www.investorshub.com/boards/board.asp?board_id=5409
http://biz.yahoo.com/iw/060706/0141969.html
Hello. I just found this group and I am wondering if you can give me a little help. I had bought into CWPC back in November at 1.79 and cashed out around 5.00 last month (because I needed to free up some cash). I am thinking of getting back in soon and I am wondering what is supposed to be happening with all of this news -- as I am not really a business minded person and really honestly don't understand most of the reports and news releases. I see that on the 7th that the CEO and a director each bought close to 100,000 $ in shares and I assume that this means something good. What are your thoughts?
TIA
You're absolutely right about RB, besides being entertaining there isn't much value to the posts lately.
Been long since i got in at .36 took some profits but holding my meager remainder for the long run. i believed in this company from the start and still do. i think patience is the secret to this one, nothing happens overnight, especially in the oilpatch. ask me how i know...LOL
good luck to all
Company Headlines
Form 4: Update Filing for CanWest Petroleum Corp (CWPC) Vickers Stock Research 07/08/2006
Form 4: Update Filing for CanWest Petroleum Corp (CWPC) Vickers Stock Research 07/08/2006
Form 4: Update Filing for CanWest Petroleum Corp (CWPC) Vickers Stock Research 07/08/2006
Form 4: Update Filing for CanWest Petroleum Corp (CWPC) Vickers Stock Research 07/08/2006
More ...
Top
too bad more long investors arent posting here. The RB board has been taken over by a very talented manipulator..
Link to today's report CWPC estimate of Bitumen
http://www.oilsandsquest.com/pdf/NR-CWPC%20OQI-%20OBIP-final.pdf
CanWest Petroleum Corporation - NEWS -
(OTC BB:CWPC.OB - News) -
announces the closing of the private placement -
of common shares issued on a flow-through basis -
announced on June 13, 2006.
A total of 5,668,100 common shares were issued on a
flow-through basis at a price of C$6.60 per share
for gross proceeds of C$37,409,460.
http://www.investorshub.com/boards/board.asp?board_id=5409
http://www.investorshub.com/boards/quotes.asp?ticker=cwpc&qm_page=7576&qm_symbol=CWPC
http://www.investorshub.com/boards/quotes.asp?ticker=cwpc&qm_page=68900&qm_symbol=CWPC
CanWest Petroleum Announces Closing of Flow-Through Share Offering
Thursday July 6, 9:23 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Jul 6, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) announces the closing of the private placement of common shares issued on a flow-through basis announced on June 13, 2006. A total of 5,668,100 common shares were issued on a flow-through basis at a price of C$6.60 per share for gross proceeds of C$37,409,460.
ADVERTISEMENT
The proceeds will be used to incur Canadian Exploration Expenses on resource delineation and other exploration work being undertaken by CanWest Petroleum's subsidiary, Oilsands Quest Inc., on Oilsands Quest's permit lands in Saskatchewan.
The private placement was completed through a syndicate of agents led by TD Securities Inc. and including CIBC World Markets Inc., J.F. Mackie & Company Ltd. and Peters & Co. Limited.
CanWest Petroleum owns a 59.5 percent interest, on a fully diluted basis, in Oilsands Quest. On June 12, 2006, CanWest Petroleum and Oilsands Quest jointly announced that the companies have entered into an agreement that provides for the combination of the two companies; this transaction is expected to be completed on August 14, 2006.
The Flow-Through Shares have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States or to U.S. persons as such term is defined in Regulation S under the Securities Act absent a registration statement or an applicable exemption from registration.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
Cusip# 138 748 108
Contact:
Contacts:
CanWest Petroleum Corporation
Jonathan Buick
(416) 915-0915 or Toll Free: 1-877-748-0914
jbuick@buickgroup.com
2:30 Mountain time today, preliminary estimate of bitumen
resources in place per the June 30 PR
"Mr. Hopkin's presentation for the conference will be posted
on both companies' web sites at 2:30 p.m. (Mountain Time); it is anticipated that managements preliminary estimates of resources will be included."
CANADA'S OIL SUPPLY WILL TOP THE SAUDI's
Canada's oil supply could top Saudi Arabia: report
Last Updated Wed, 11 Jan 2006 06:21:12 EST
CBC News
Alberta's oilsands could become the single biggest contributor to the world's supply within 10 years, says a report released Wednesday by CIBC World Markets.
That would mean a global shift in oil dominance from Saudi Arabia and the Middle East to Canada.
Alberta oil sands project. The study of 164 new oilfields and projects indicates oil markets "will become even tighter over the next three years" if global demand continues to grow at its current pace, said Jeff Rubin, Chief Economist at CIBC World Markets.
The main reason is most of the new oil coming on line this year will simply offset older oilfields being depleted in the North Sea and Kuwait.
Rubin suggested global conventional oil production peaked in 2004. New supply in 2007 is expected to grow by less than 1.5 million barrels per day and will fall to less than one million barrels per day in 2008, the report says.
"All of the net increase in oil production this year is expected to come from non-conventional sources. While deep-water oil is the primary source today, we forecast that Canadian oilsands will become the single biggest contributor to incremental global supply by 2010."
The study suggests planned capacity expansions in the Alberta oilsands over the next decade will exceed even those in Saudi Arabia.
Rubin also noted Canadian oilsands would also be one of the few remaining oil developments still open to private investment.
Oil prices are expected to average more than $70 US per barrel this year.
FYI
=====================================================================
Re: CanWest Petroleum announces rescheduling receipt of Oilsands
Quest's estimate of bitumen resources
=======================================================================
Cusip# 138748 10
Trading Symbol: OTC BB CWPC
Calgary, Alberta -- CanWest Petroleum Corporation (CWPC: OTC BB) and
Oilsands Quest Inc. announce the preliminary estimate of the bitumen
resources in place in the area covered by Oilsands Quest's Phase I
drilling program in northwest Saskatchewan is now expected some time
next week. The report was previously planned for release by the end of
June.
The preliminary management estimate of Original Bitumen In Place
("OBIP") will be based on the independent evaluation of cores from the
holes drilled in the Phase I drilling program on lands totaling less
than two percent of the total area of Oilsands Quest's permits. The
winter 2006 drilling program will consist of at least 150 holes and
cover a much larger area.
Christopher H. Hopkins, President & Chief Executive Officer of Oilsands
Quest, said, "The evaluation process involved is complex and
methodical. Backlogs experienced by the laboratory facilities have
resulted in delays in receiving the last of the detailed analyses. Once
these results are obtained we will complete our determination of the
Original Bitumen In-Place and release the preliminary estimates."
The companies also note that Christopher H. Hopkins, President and
Chief Executive Officer of Oilsands Quest, will be speaking at the TD
Securities Oil Sands Conference for institutional investors in Calgary
on July 6. Mr. Hopkin's presentation for the conference will be posted
on both companies' web sites at 2:30 p.m. (Mountain Time); it is
anticipated that managements preliminary estimates of resources will be
included.
CanWest Petroleum Corporation owns a 59.5 percent interest, on a fully
diluted basis, in Oilsands Quest Inc. On June 12, 2006, CanWest
Petroleum and Oilsands Quest jointly announced that the companies have
entered into an agreement that provides for the combination of the two
companies; this agreement is expected to be completed on August 14,
2006.
For more information:
CanWest Petroleum Corporation
Contact: Jonathan Buick
Phone: 1-877-748-0914 or (416) 915-0915
Email: investor@canwestpetroleum.com
Oilsands Quest Inc.
Contact: Christopher H. Hopkins, President & CEO
Phone: (403) 263-1623
E-mail: chopkins@oilsandsquest.com
Safe Harbor statement under the Private Securities Litigation Reform
Act of 1995: Except for historical information contained herein, the
matters discussed in this press release are forward-looking statements
that involve risks and uncertainties, including but not limited to
economic, competitive, governmental and technological factors affecting
the Company's operations, markets, products and prices and other
factors discussed in the Company's various filings with the Securities
and Exchange Commission.
=======================================================================
Copyright (c) 2006 CANWEST PETROLEUM CORPORATION (URMP) All rights
reserved. For more information visit our website at
http://www.canwestpetroleum.com/ or send
mailto:investor@canwestpetroleum.com
Message sent on Fri Jun 30, 2006 at 6:02:12 AM Pacific Time
=============================================================
News CanWest Petroleum and Oilsands Quest Announce Interim Results from Phase I Oil Sands Drilling Program in Saskatchewan
http://biz.yahoo.com/iw/060614/0135780.html
CanWest Announces Private Placement of Common Stock
Tuesday June 13, 2:08 pm ET
CALGARY, ALBERTA--(MARKET WIRE)--Jun 13, 2006 -- CanWest Petroleum Corporation ("CanWest") (OTC BB:CWPC.OB - News) announced today that it intends to issue shares of its common stock to investors in Canada on a flow-through basis (the "Flow-Through Shares"). 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 CanWest will be Cdn.$25 million. The proceeds will be used to incur Canadian Exploration Expenses on resource delineation and other exploration work on Oilsands Quest Inc.'s permit lands in Saskatchewan. Oilsands Quest Inc. is a subsidiary of CanWest. Closing of the private placement is expected to occur early in July 2006.
ADVERTISEMENT
The Flow-Through Shares have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States or to U.S. persons (as such term is defined in Regulation S under the Securities Act) absent a registration statement or an applicable exemption from registration.
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.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
Cusip# 138748 10
Contact:
Contacts:
CanWest Petroleum Corporation
Jonathan Buick
Office: (416) 915-0915 or Toll Free: 1-877-748-0914
jbuick@buickgroup.com
http://www.canwestpetroleum.com
--------------------------------------------------------------------------------
CWPC conference notes from poster
at RB http://ragingbull.lycos.com/mboard/boards.cgi?board=CWPC&read=35868
By: clownsj01
13 Jun 2006, 12:28 PM EDT
Msg. 35868 of 35868
Jump to msg. #
8 more drilling rigs
possibly purchase additional acreage.
listing expected shortly after merger.
questions:
when expect drill results?
respond by end of june. reiterate, completed 24 holes, 19 paid 29 meters, saturation 15% (good measures). not inclined to speak more.
Cash on hand and warrents? where will the cash take the co?
16 million dollars on hand, take us into next system. called the current drop a 'hiccup'.
plans on going double existing exploration budget.
plan and timeframe to find jv partner?
in discussion with jv partners, keep results of reserves confidential.
evaluation of holes?
volume is a function of saturation and can vary from area to area. Prepare data to markets that is consistant for results from drilling. Use independent consultants. Data out end of June. Numbers range widely. Still held confidential.
Keeping the public informed?
Scheduled to speak on June 22. Can not make news prediction. One by end of June.
Dealing with joint venture?
Exploration of Eagle Nest area and Tuskquia (sp) hills area.
Near Borealis? Further south or east?
approx 12 miles from canwest. Unclear of resources and will take more drilling this winter.
Close to call
CWPC conference call going on right now,
On Tuesday June 13, 2006 at 10:00am Mountain Time, 12:00pm Eastern Standard Time T. Murray Wilson and Christopher H. Hopkins will be hosting a conference call to discuss the merger of the two companies.
The Company would like to extend an invitation to all interested parties to participate in the teleconference by dialing 1-866-507-1212, approximately five minutes before the call is scheduled to begin. A recording for the conference call will be available following the call until June 27th, 2006 by dialing 1-888-509-0081, passcode: 625808.
CanWest Petroleum and Oilsands Quest Enter into Agreement to Combine Companies
Monday June 12, 9:36 am ET
CALGARY, ALBERTA--(MARKET WIRE)--Jun 12, 2006 -- CanWest Petroleum Corporation (OTC BB:CWPC.OB - News) and Oilsands Quest Inc. announced today that the companies have entered into an agreement (the "Agreement") that provides for the combination of CanWest Petroleum and Oilsands Quest (the "Combination"). Under the terms of the Agreement and subject to the approval of Oilsands Quest's shareholders, each common share of Oilsands Quest not already owned by CanWest Petroleum will be exchanged for 7.95 exchangeable shares of Oilsands Quest (the "Exchangeable Shares"), subject to adjustments. The rights, privileges and restrictions governing the Exchangeable Shares will provide that each whole Exchangeable Share may be exchanged for a CanWest Petroleum share. Based on the closing price of CanWest Petroleum's common shares on Friday, June 9, 2006 (US $6.21), the exchange ratio implies a price of US $49.37 per Oilsands Quest share. The Combination would result in the creation of a company with a fully diluted market capitalization of approximately US $1.3 billion, based on the current trading value of CanWest Petroleum shares.
ADVERTISEMENT
CanWest Petroleum owns a 59.5% interest, on a fully diluted basis, in Oilsands Quest, a private Alberta operating company that owns 100% of exploration permits covering 508,000 net acres in northwest Saskatchewan.
T. Murray Wilson, who joined CanWest Petroleum's board of directors as Chairman in May 2006 to lead a reorganization of such company, said, "This is an important step for CanWest Petroleum to be able to start capitalizing more effectively on its assets and building significant long-term value for its shareholders."
Christopher H. Hopkins, President and Chief Executive Officer of Oilsands Quest, said, "The Combination will allow shareholders of both companies to participate in a larger, stronger and more efficient company, with a greater ability to finance and accelerate the exploration program on Oilsands Quest's oil sands permits."
Full details of the Combination will be included in a proxy circular and related documents which will be mailed to Oilsands Quest shareholders for their consideration and approval. The Combination is expected to be completed on August 14, 2006 and is subject to regulatory approvals, the approval of Oilsands Quest's shareholders and other customary conditions contained in the Agreement.
Governance
After the Combination, CanWest Petroleum will be led by T. Murray Wilson as Executive Chairman and the senior management team of Oilsands Quest, including Christopher H. Hopkins as President and Chief Executive Officer and Karim Hirji as Chief Financial Officer. The board of directors of CanWest Petroleum will be comprised of T. Murray Wilson, Christopher H. Hopkins, Tom Milne, Ronald Phillips, Gordon Tallman and William Scott Thompson. Following completion of the Combination, CanWest Petroleum intends to seek the approval of its shareholders to change its name to Oilsands Quest Inc. or a similar name.
US Listing Application
CanWest Petroleum has applied for a listing on a senior U.S. exchange.
Board Recommendation
The board of directors of Oilsands Quest has unanimously approved the transaction and has concluded that the transaction is in the best interests of Oilsands Quest's shareholders and has unanimously resolved to recommend that all Oilsands Quest shareholders vote in favour of the Combination. In addition, the management and board of Oilsands Quest have also agreed to vote their shares in favour of the Combination.
In connection with the Combination, certain shareholders of Oilsands Quest, including all of the directors and officers of Oilsands Quest, have entered or will enter into lock-up agreements with CanWest Petroleum pursuant to which they agree to vote all of their common shares in favour of the proposed Combination, subject to certain exceptions, representing in the aggregate approximately 3.4 million common shares or 37% of the fully diluted common shares of Oilsands Quest not already owned by CanWest Petroleum. The number of fully diluted Oilsands Quest shares not owned by CanWest is 9,295,784.
The Agreement includes customary non-solicitation covenants, and Oilsands Quest has reserved the right to respond to superior proposals. CanWest Petroleum also has the right to match superior proposals under terms of the Agreement. In addition, CanWest Petroleum has acquired an option to purchase the 2.5 percent gross overriding royalty on Oilsands Quest's permit lands, such option exercisable on or before August 15, 2006 at a purchase price of Cdn $20 million.
Advisors
TD Securities Inc. is acting as financial advisor to CanWest Petroleum with respect to the Combination. CIBC World Markets Inc. is acting as financial advisor to Oilsands Quest with respect to the Combination. Genuity Capital Markets has provided the board of directors of Oilsands Quest with its opinion that, subject to review of the final form of documents effecting the transaction, the consideration offered pursuant to the transaction is fair, from a financial point of view, to the shareholders of Oilsands Quest.
CanWest Petroleum Corporation (www.canwestpetroleum.com)
CanWest Petroleum is a company incorporated in the State of Colorado and is engaged in the exploration for and mining of oil shale in Pasquia Hills, Saskatchewan, and the refining of certain petrochemical feedstocks derived from oil shale. CanWest Petroleum continues to evaluate certain technology involving the separation of hydrocarbons from sand and oil shale. CanWest Petroleum recently announced the relocation of its offices to Calgary.
Oilsands Quest Inc. (www.oilsandsquest.com)
A private company incorporated in Alberta, Oilsands Quest commenced operations in late 2004. The company is focused solely on oil sands exploration in Saskatchewan and is conducting an exploration program to identify, qualify and quantify bitumen resources on its permits covering an extensive land position east of the Athabasca oil sands in Alberta. The principals of the company have extensive experience in successful oil sands exploration.
Conference Call
On Tuesday June 13, 2006 at 10:00am Mountain Time, 12:00pm Eastern Standard Time T. Murray Wilson and Christopher H. Hopkins will be hosting a conference call to discuss the merger of the two companies.
The Company would like to extend an invitation to all interested parties to participate in the teleconference by dialing 1-866-507-1212, approximately five minutes before the call is scheduled to begin. A recording for the conference call will be available following the call until June 27th, 2006 by dialing 1-888-509-0081, passcode: 625808.
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