2010-03-11-2010-01-19-2010-08-13

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
13MM
Description

Canceled deal for oil-shale assets in Pasquia Hills, Saskatchewan.

Oilsands Quest Inc., Calgary, (NYSE Amex: BQI) has cancelled the sale of its oil shale assets near Pasquia Hills, Saskatchewan to Canshale Corp., which was unable to secure financing of C$12.5 million by July 30.

Oilsands Quest has received notice from interested parties concerning its oil shale assets and will investigate these options to determine whether a sale or joint venture of the oil shale assets is in the best interests of the company. This will allow the company to continue focusing its financial and management resources on developing its portfolio of oil sands projects.

Oilsands Quest holds contiguous oil-sands acreage in Saskatchewan and Alberta, and is developing Saskatchewan's first global-scale oil sands discovery.