Oilsands Quest Inc.

Oilsands Quest Inc. continues to work with its advisor, TD Securities Inc., to review various bids submitted under the previously announced solicitation process to find investors to acquire, restructure or recapitalize the Company's business. The Company believes that some of the bids received could, if subject to further negotiation, be capable of being brought before the court for approval.Negotiations with ...

Oilsands Quest Inc. has applied to delist its shares from the NYSE MKT following discussions with representatives from the NYSE MKT about the Company's current status. Oilsands Quest has filed an application to list the Company's stock on the Canadian National Stock Exchange, which would, if successful, enable Oilsands Quest's shareholders to trade their shares once the new listing becomes active. Listing on the CNSX [...]

Oilsands Quest Inc. has requested and obtained an extension of the order from the Alberta Court of Queen's Bench providing creditor protection under the Companies' Creditors Arrangement Act (Canada), which was to expire May 18, 2012. Creditor protection under the CCAA will now expire on June 29, 2012, unless further extended as required and approved by the Court.

Oilsands Quest Inc. held its Annual Meeting of Shareholders on Tuesday, April 24, 2012, in Calgary. Mr. Ronald Blakely was elected to serve as a Director of the Company for a one year term until the next annual meeting. The Shareholders also approved an amendment to the Company's Articles of Incorporation to declassify the Board of Directors and remove the Class A, B and C member designations. Previously, these [...]

Oilsands Quest Inc. announces that Christopher Hopkins has elected to resign from the Oilsands Quest Board of Directors for personal reasons. 'As the founder of Oilsands Quest and our chief executive officer for several years, Mr. Hopkins had an indelible impact on the Company,' said Ron Blakely, Chairman of the Oilsands Quest Board of Directors. 'He remains a major shareholder who is keenly interested in the future [...]

Oilsands Quest Inc. closed the previously disclosed sale of the Company's non-core Eagles Nest asset to Cavalier Energy Inc., an unrelated third party, on March 23, 2012, for CDN$7.005 million. On March 26, 2012, Oilsands Quest signed the definitive loan agreements for the previously announced debtor-in-possession financing in the amount of CDN$2.85 million (the 'DIP Facility'). Funds from the DIP Facility are now [...]

Oilsands Quest Inc. has received approval from the Alberta Court of Queen's Bench for the sale of the Company's non-core Eagles Nest asset to Cavalier Energy Inc., an unrelated third party, for CDN$7.005 million. As previously announced, Oilsands Quest reopened the sale process for its Eagles Nest asset as FAMA Capital Ltd. defaulted on an earlier Purchase and Sale Agreement. The Company has signed a new Purchase and [...]

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NYSE Amex: BQI

CALGARY, March 8, 2012 /CNW/ - Oilsands Quest Inc.

('Oilsands Quest,' 'OQI' or 'the Company') has filed its Form 10-Q Quarterly Report for the quarter ended January 31, 2012 with the United States Securities and Exchange Commission. The full document is available online at www.sec.gov and www.sedar.com; the Management's Discussion and Analysis (MD&A) is presented below [...]

NYSE Amex: BQI

CALGARY, March 1, 2012 /CNW/ - Oilsands Quest Inc.

('Oilsands Quest' or 'the Company') is continuing to work to restructure its affairs while under the protection of the Companies' Creditors Arrangement Act (Canada) ('CCAA'), with the assistance of a Monitor appointed by the Alberta Court of Queen's Bench (the 'Court'). With the approval and support of the Monitor, Oilsands Quest has extended [...]

NYSE Amex: BQI

CALGARY, Feb. 23, 2012 /CNW/ - Oilsands Quest Inc.

('Oilsands Quest,' or 'the Company') has received approval from the Alberta Court of Queen's Bench (the 'Court') for the sale of the Company's non-core Eagles Nest asset to FAMA Capital Ltd. ('FAMA'), an unrelated third party, for CDN$7.0 million.

This approval follows a short Court-directed limited bidding process, resulting in a higher sale

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