Crude Oil Tar Sand Companies

[NYBob]

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