Oilsands Quest Inc (fka OBQI)

[rossi]

Way too cheap.
Newmont owned 100% of Alberta oil sands lease otherwise known as "Black Gold" project in Alberta, Canada until August 16, 2006. The 9,600 acre lease is located within the Leismer Athabasca Oil Sands Field adjacent to EnCana Resources' Christina Lake Thermal Project and Devon Canada's Jackfish project. All three projects are expected to utilize steam assisted gravity drainage ("SAGD"). After completing a three season resource delineation program, a pre-feasibility study and baseline environmental work, Newmont received a cash offer of approximately $280 million from Korean National Oil Corporation for the Black Gold project. The transaction closed on August 16, 2006 for an approximate $270 million pre-tax gain and was Newmont Capital's first internally generated value realization project