Oilsands Quest updates corporate presentation


CALGARY, April 22 /CNW/ - Oilsands Quest Inc. (NYSE AMEX: BQI) ("OQI" or "the Company") has updated its corporate presentation with details of its forthcoming Steam Assisted Gravity Drainage (SAGD) test. The objective of the test is to demonstrate the steam containment properties of the glacial till overburden and scalability to commercial production using SAGD. The test plan will use one 100 meter long horizontal well pair, 5 meters below the top of the interface between the overburden and the oil sands with the existing facilities at Test Site 1 at the Company's Axe Lake discovery in Saskatchewan. The presentation is available on the Company's website at www.oilsandsquest.com.

Cautionary statement about forward-looking statements

The description of the planned SAGD test in this news release are "forward-looking statements" within the meaning of the U.S. federal securities laws and 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, which include but are not limited to risks inherent in the oil sands industry, regulatory, financing and economic risks, and risks associated with the company's ability to implement its business plan. Many of these risks and uncertainties are beyond the control of the Company. The Company undertakes no obligation to update forward-looking statements 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.

About Oilsands Quest

Oilsands Quest Inc. (www.oilsandsquest.com) is developing Saskatchewan's first global-scale oil sands discovery at Axe Lake, while exploring one of Canada's largest holdings of contiguous oil sands permits and licenses, located in Saskatchewan and Alberta. It is leading the establishment of the province of Saskatchewan's emerging oil sands industry.

SOURCE Oilsands Quest Inc.

For further information: For further information: Riyaz Mulji, Manager, Investor Relations, Email: ir@oilsandsquest.com, Investor Line: 1-877-718-8941

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Oilsands Quest Inc.

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