Oilsands Quest Inc.

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Our Land Holdings - Focused on Western Canada

Oilsands Quest’s Land Holdings
(As at January 23, 2008)

Saskatchewan

Alberta

Totals

Oil Sands

Hectares

Acres

Hectares

Acres

Hectares

Acres

Exploration Permits*

205,613

508,080

45,568

112,598

251,181

620,678

Exploration Licences*

44,483

109,920

-

-

44,483

109,920

Total Contiguous Lands

 

 

 

 

295,664

730,598

Lease (Eagles Nest)

-

-

9,216

22,773

9,216

22,773

Total Oil Sands

250,096

618,000

54,784

135,371

304,880

753,371

Oil Shale

Exploration Permits

198,187

489,730

-

-

198,187

489,730

Total Land Holdings

448,283

1,107,730

54,784

135,371

503,067

1,243,101

* The oil sands exploration permits and exploration licences in Saskatchewan and Alberta are
contiguous.

Realizing the Potential of Canada's Oil Sands Resources
North America’s energy needs are increasingly being met by Canada’s oil sands. In 2005, production from the oil sands averaged one million barrels/day; this is expected to more than double by 2010, increase to three million barrels/day by 2015 and grow to four million barrels/day by 2020. Within 15 years, the oil sands are expected to provide 80% of Canada's oil production.

Breaking New Ground in Saskatchewan
Exploration for commercially viable oil sands deposits has traditionally focused on Alberta. However, the oil sands do not recognize provincial borders, as Oilsands Quest is proving with highly successful exploration results in northwestern Saskatchewan. We have initiated pre-commercialization studies for our Axe Lake Discovery, which we believe is a world-class bitumen resource.

In addition to oil sands exploration permits in Saskatchewan, we hold exploration permits in eastern Alberta, directly west of our Saskatchewan lands, and a development lease further north and west of Fort McMurray, Alberta.

A Clear Plan to Accelerate Success
Oilsands Quest is focused on creating long-term shareholder value from our significant land holdings. Our business plan is simple and effective:

Explore for and quantify commercial deposits of oil sands to identify individual projects.

Delineate project resources, increasing their value to maximum levels.

Work with selected partners to commercialize each project, while maintaining a significant minority interest.


Oilsands Quest's Strategically Located Oil Sands Land Holdings

Oilsands Quest land