There is something large brewing at (BQI) Oilsands Quest. Possibly 10+ billion barrels large.
Over the last month I have witnessed uncanny manipulation/accumulation and have been ridden with angst in regards to the fruition of my investment. Well the fruit is blooming and it looks to be a beauty. Patience yet again is rewarded.
"It isn't as important to buy as cheap as possible as it is to buy at the right time." - Jesse Livermore
The last three days have seen a surge in volume from an average of roughly 2 million shares to 6 million and Sunday a whopping 9 million changed hands. There are many theories as to why the sudden breakout, including a leakage of positive results from the Norwest verification. Norwest has been retained as a third party evaluator to make sure that 10 billion is really 10 billion if not more. My assumption would be that the 10 billion is conservative at best and indeed the ramifications of such data will light the big rocket booster.
Another theory is that this recent move is a push from some very significant news regarding Petrobank's recent THAI testing in Saskatchewan and we haven't even seen the ramifications of Norwest. No doubt the THAI news is as big if not bigger than Norwest. Why you ask? THAI quite simply allows cheap recovery of the oil with less expense to the environment. THAI will bring out the value and profitability while Norwest is merely a verification of what has been established as true. Yes, Norwest is important but in retrospect is a formality and industry requirement. There is no guarantee that Oilsands Quest is going to leverage THAI but the synergy is there and the geographic location of their land in Saskatchewan creates a perfect little donut hole in Oilsand's land. Coincidence? I don't think so…
There is much more to this story to be told and I will save that for another time. I feel strongly that you should always do your own research prior to plunking down your cash. I also feel strongly that Oilsands Quest definitely merits serious consideration. The oil crisis has just begun and global unrest doesn't seem to happen in Canada, eh?
Disclosure: Author has a long position in BQI