Oilsands Quest Inc (fka OBQI)

[S Chun-Li]

http://www.marketwatch.com/news/story/oilsands-quest-announces-independent-resource/story.aspx?guid=%7B998294FC%2DC258%2D42C8%2D9B1A%2DE81E5F1F8B5D%7D&dist=TQP_Mod_pressN

Raven Ridge bigger than Axe Lake

"CALGARY, June 26, 2008 /PRNewswire-FirstCall via COMTEX/ -- Oilsands Quest Inc.

BQI 6.10, +0.03, +0.5%) announces its independent resource estimates for its Axe Lake Discovery and its Raven Ridge Discovery. Raven Ridge has been reclassified to a Discovery from an "area of interest". Oilsands Quest announces the initialization of engineering plans for the first 30,000 barrels per day commercial project planned to develop a portion of the Axe Lake Discovery and provides an update on its reservoir test program."