Oilsands Quest appoints new auditors, announces board membership on committees

    Amex:   BQI

    CALGARY, Nov. 14 /CNW/ - Oilsands Quest Inc. (Amex:   BQI) announces the
appointment of KPMG LLP, Chartered Accountants, as the company's independent
registered public accounting firm, effective November 13, 2007. The KPMG
office in Calgary is the lead service provider to Oilsands Quest. Prior to the
appointment of KPMG, the company's auditor was Pannell Kerr Forster
(registered with the Public Company Accounting Oversight Board as Smythe
Ratcliffe) of Vancouver, British Columbia.
    Oilsands Quest also announces the following membership on the company's
four committees by members of the Board of Directors, effective November 1,

    T. Murray Wilson, Executive Chairman - Reserves & Resources
    Thomas Milne - Audit (Chair), Compensation, Governance & Nominating
    Ronald Phillips - Audit, Compensation (Chair)
    John Read - Compensation, Reserves & Resources
    Gordon Tallman - Audit, Governance & Nominating (Chair), Reserves &
    William Scott Thompson - Compensation, Reserves & Resources (Chair)
    Pamela Wallin - Governance & Nominating, Reserves & Resources

    T. Murray Wilson, Executive Chairman, Christopher H. Hopkins, President &
    Chief Executive Officer, and W. Scott Thompson are non-independent
    members of the Board of Directors.

    About Oilsands Quest

    Oilsands Quest Inc. is aggressively exploring Canada's largest contiguous
oil sands land holding by applying its technical expertise to develop multiple
potential global-scale discoveries. The company (www.oilsandsquest.com) is the
originator of Saskatchewan's emerging oil sands industry.

    Forward-looking information

    Except for statements of historical fact relating to the company, this
news release contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking statements such as references to
Oilsands Quest's exploration, technical and development programs and future
discoveries are based on the opinions and estimates of management 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, and risks associated with the company'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

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