Good article on the status of oilsands given oil pricing currently!  Discusses mining it versus SAGD, pricing costs, industry consolidation!

 

BQI is pretty positioned as a future SAGD type company with obvious large reserves of bitumen.

 

 

Summary:

 

BQI to present at an oilsands conference today and next week in London.  See if there is anything new?

 

Still waiting for the Mc Daniels independent intricate assessment of BQI reserves due anytime.  said it would be ready by 12/31/08!

 

Drilling in Ravens Ridge discovery initiated to characterize better what they have per seismic indications-25 holes to drill in section of their second discovery zone that seismic indicates has the most bitumen.!

 

Pilot testing continuing at site 1 and scheduled to be ramped up for site 3-no date given yet.  Need data from site 1.  Timeline still unknown.

 

BQI up 40% in the last week-oil down 20%.

 

California hedgefund Alethia owns 36.8 million shares.  Keep incrementially adding.

 

Short interest down for several straight reporting periods.  Approximately 30%.

 

Changing SEC rules (final) on calculating oilsands as oil resources will initiate next year (helps especially the larger companies who need to expand their reserves in a state oil increasing world).  To me, this makes biumen inventory a larger importance to larger entities in a SAGD environment (which lessens environmental arguments).  I look for consolidation during 2009 in the oilsands patch.

 

PBG.TO and their donut hole in BQI lands and their combustion procedure THAI/CAPRI) for extraction and heavy oil upgrading all at once and their seismic program in the donut hole lands Southeast of BQI Axe lake discovery!????

 

In spite of oil pricing and BQI current PPS-this has lots of potential good stuff coming!

 

Expect Obama (US) and Harper (Canada) to meet soon after the inauguration.  Usually is the first formal foreign meeting for a new president. Energy, oil, oilsands, environmental issues will surely be on their agenda!

 

Facts are oilsands production to the US is ratcheting up-we can't afford to blow them off-would love to see agreements on the trade, production, and environmental issues within oilsands development.  get on the same page before China and India really horn in!

 

Kutz