Oilsands Quest updates operations activities in Alberta and Saskatchewan, announces appointment of VP of Reservoir Engineering



    Amex:   BQI

    CALGARY, Feb. 11 /CNW/ - Oilsands Quest Inc. (Amex:   BQI) announces
updates of activities in its drilling and seismic programs on the company's
contiguous land holdings in Alberta and Saskatchewan to February 9, 2008. The
company also announces the appointment of Claes T.S. Palmgren to the new
position of Vice President, Reservoir Engineering.

    Alberta operations update

    Oilsands Quest initiated exploratory drilling on January 10, 2008 on its
exploration permits in Alberta and, by February 9, 2008 had drilled five
holes. The holes are located within an area of approximately two sections or
five square kilometres (about two square miles) and encountered McMurray
formation at depths ranging from 157 to 164 metres (515 to 538 feet). The
estimated thickness of the McMurray formation, which includes meaningful
bitumen intercepts, ranges from 20 to 46 metres (65 to 150 feet). Bitumen
saturation, net pay thicknesses and other reservoir characteristics will be
determined following third-party core and laboratory analysis, which will take
several months to conduct.
    Oilsands Quest currently has four drilling rigs working on the Alberta
side of its contiguous land holdings. The company hopes to drill up to 30
exploratory holes in its current Alberta drilling program by the end of the
winter drilling season, which traditionally ends during the last half of March
with the arrival of spring break-up conditions.
    Field work in Oilsands Quest's winter 2007/08 seismic program in Alberta,
which includes 2D and 3D surveys, is underway. It is expected that planned
seismic field work will also be completed by the end of the winter season.

    Saskatchewan operations update

    In its winter 2007/2008 Saskatchewan drilling program to date, Oilsands
Quest has drilled a total of 96 delineation holes, along with 16 piezometer
holes (for ground water monitoring) since September 2007. All of these holes
are located in the Axe Lake Discovery area. Core samples and drilling data are
being evaluated.
    Four drilling rigs are currently at work on the company's land holdings
in Saskatchewan. This week, Oilsands Quest plans to shift the focus of current
Saskatchewan drilling and step out from the Axe Lake Discovery area. Field
work in the Saskatchewan 2D and 3D seismic programs for winter 2007/08 has
been completed, and processing is now underway in Calgary. During January,
Oilsands Quest's two camps, both located in Saskatchewan, have averaged a
total of 305 personnel.

    Appointment of Vice President, Reservoir Engineering

    On February 1, 2008, Claes T.S. Palmgren, P.Eng., was appointed Vice
President, Reservoir Engineering, of Oilsands Quest Inc. Prior to joining
Oilsands Quest, Dr. Palmgren was Manager, Reservoir Process Technology at
StatoilHydro Canada Ltd. (formerly North American Oil Sands Corporation). He
has extensive experience in thermal and thermal-solvent in-situ recovery
processes, technology pilot program development and field applications of
in-situ heavy oil and bitumen recovery technologies. Dr. Palmgren's biography
is posted on the company's website (www.oilsandsquest.com).

    Oilsands Quest Inc. is aggressively exploring Canada's largest holding of
oil sands permits and licences, located in Saskatchewan and Alberta, and
developing Saskatchewan's first global-scale discovery. It is leading the
establishment of the province of Saskatchewan's emerging oil sands industry.

    Forward-looking information

    Except for statements of historical fact relating to Oilsands Quest, this
news release contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", "potential", "prospective" and other
similar words, or statements that certain events or conditions "may", "will",
or "could" occur. Forward-looking statements such as references to discovered
and undiscovered resources estimates, references to Oilsands Quest's
exploration, technical and development programs and future discoveries are
based on the opinions and estimates of management and Oilsands Quest's
independent evaluators at the date the statements are made and are subject to
a variety of risks and uncertainties and other factors that could cause actual
events or results to differ materially from those anticipated in the
forward-looking statements. These risks, uncertainties and other factors
include, but are not limited to, exploration and technical risks inherent in
the oil sands industry, regulatory and economic risks, lack of infrastructure
in the region in which the company's resources are located and risks
associated with Oilsands Quest's ability to implement its business plan. There
are uncertainties inherent in forward-looking information, including factors
beyond Oilsands Quest's control, and no assurance can be given that the
programs will be completed on time, on budget or at all. Oilsands Quest
undertakes no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change, except as
required by law. The reader is cautioned not to place undue reliance on
forward-looking statements. The risks and uncertainties set forth above are
not exhaustive. Readers should refer to Oilsands Quest's current annual report
on Form 10-KSB and other document filings, which are available at
www.sedar.com and at www.sec.gov for a detailed discussion of these risks and
uncertainties and details regarding the location and extent of Oilsands
Quest's land holdings.





For further information:

For further information: General inquiries and retail investors, contact
Hedlin Lauder Investor Relations Ltd.: Toll Free 1-800-299-7823, Office (403)
232-6251, Email irinfo@hedlinlauder.com; Institutional investors, contact
BarnesMcInerney Inc.: Toll Free 1-866-794-7288, Office (416) 371-0510, Email
oilsands@barnesmcinerney.com

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Oilsands Quest Inc.

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