Oilsands Quest Inc (fka OBQI)

[Cousinrolf]

OBQI is in the Canadian form of receivership. E & Y has control of the day to day operations. They are presently locating all the creditors and the ammount they are owed. That should be done by mid August. E and Y also have authority to close on the sale of the oil sands assets to pay off the creditors. E & Y has said the remaining monies after creditors (including them) will be nonimal.