Oilsands Quest announced independent resource estimates for its Wallace Creek, Axe Lake, Raven Ridge and Eagles Nest properties. The resource estimates for the Axe Lake, Raven Ridge and Eagles Nest properties were also updated, but have not changed significantly from the previous evaluation. Results for the Wallace Creek estimates consist of a Discovered and Undiscovered Resources for 302 and 1,052 millions of barrels.
Oilsands Quest Inc. announced third quarter operational updates. Highlights include: evaluating the potential to develop its Axe Lake oil sands discovery in northwestern Saskatchewan using typical steam-assisted gravity drainage technology, completed a nine hole exploration drilling program on lands in the southwest corner of the Wallace Creek lease.
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