OIlsands Quest Inc. (BQI)

[bitumen69]

SUBJECT: Significant crude Oil discovery

December 16, 2005
Petrolifera's RN.PM.x-1002 well flows 2,340 bbl/d on test

December 12, 2005
Petrolifera Petroleum Limited announces its fourth successive discovery - RN.PM.x-1002 well flows crude oil on test; 1010 well drilling

December 5, 2005
Petrolifera provides activity update and roadmap for nearterm plans

November 28, 2005
Petrolifera provides additional test results and confirms significant crude oil discovery

November 25, 2005
Petrolifera announces significant crude oil discovery

Petrolifera Petroleum is a Canadian oil and gas company engaged in exploration and production activity in South America. Petrolifera's production base stems from its 100 percent-owned Puesto Morales/Rinconada concession in the Neuquen Basin, Argentina. In early 2005 Petrolifera was successful in negotiating two significant exploratory licenses covering over five million acres in the Marañon and Ucayali Basins of Peru. These blocks are considered to have substantial potential as they either offset or are on trend with significant crude oil or natural gas and condensate accumulations and are considered to be well-situated from a geological perspective.

-----------
Connacher Oil and Gas Limited of Calgary, Alberta was responsible for the creation and financing of Petrolifera and remains the single largest shareholder with a 35 percent stake. Connacher also provides management services to Petrolifera.
Visit Connacher Oil and Gas Limited
http://www.connacheroil.com