Oilsands Quest: What's in a Name?

On May 5th, Oilsands Quest (BQI) put out a press release detailing 6 new names for various parts of its acreage.<!--more--> Prior to the press release, the company primarily spoke only about its focus, in-situ oil sands project, Axe Lake, which resides on its Saskatchewan acreage. But now, the company has 6 new names, three of which further break down its Axe Lake project (Axe Lake 1, Axe Lake 2 and Axe Lake 3) and three names that refer to different areas of its Alberta acreage (Raven's Ridge 1, Raven's Ridge 2 and Wallace Creek).

On the surface, some may argue that the press release may not seem like a big event. However, I beg to differ. After more than 2 years of exploration and delineation drilling work, Oilsands Quest is on the cusp of securing its first joint venture partner on its Axe Lake project. The signing of a JV partner is a significant event in that a successful partnering would validate BQI's business model (which, in a nutshell, is to explore, delineate and partner various parts of its massive 753,000 acres of oil sands-bearing land). Perhaps more importantly, it would validate the attractiveness of BQI's oil sands acreage, which straddles the Alberta/Saskatchewan border.