22 Aug 2006director interest notice● Neutral
Errin Kimball became a Oilsands Quest Inc Vice President, Exploration and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
22 Aug 2006director interest notice● Neutral
Gordon G Tallman became a Oilsands Quest Inc director and company insider (initial ownership filing).
21 Aug 2006material agreement▲ GoodMajor
On August 15, 2006 the company's subsidiary Township Petroleum closed the purchase of all shares of Stripper Energy Services for C$20,000,000 (US$17,850,768), including an earlier C$1,250,000 option payment. Stripper owns the 2.5% gross overriding royalty on OQI's Saskatchewan permit lands, so the company now holds that royalty through Township. This completes the royalty purchase funded by the August 14 share sale and removes a royalty owed to an outside party on OQI's lands.
17 Aug 2006asset acquisition disposition● NeutralMajor
On August 14, 2006 the company closed the OQI reorganization, going from 59.5% to 100% ownership; other OQI holders received exchangeable shares at 8.23 per OQI share (not the 7.95 first announced), convertible into an aggregate of 76,504,302 CanWest shares. It also raised $14,820,000 by selling 3.9 million shares at $3.80 to buy Stripper Energy Services, which holds the 2.5% gross overriding royalty on OQI's Saskatchewan lands, and replaced much of the board and management with OQI's team (Hopkins as CEO and President, Hirji as CFO, Wilson as Executive Chairman). This completes the buyout begun in June, with large dilution to existing shareholders.
7 Aug 2006director interest notice● Neutral
Oilsands Quest Inc director Ronald Phillips bought 100,000 shares on the open market at $3.64.
3 Aug 2006securities registration● Neutral
Oilsands Quest Inc registered a small-business securities offering with the SEC.
27 July 2006director interest notice● Neutral
Oilsands Quest Inc director Ronald Phillips bought 200,000 shares on the open market at $4.01.
10 July 2006capital raising announcement● NeutralMajor
The company completed a private placement of 5,668,100 flow-through shares at C$6.60 for gross proceeds of C$37,409,460, paying C$2,057,520 in agent fees. The proceeds subscribe for OQI flow-through shares, with OQI renouncing qualifying expenditures to the company. The price falls to C$6.00, paid as 0.1 extra share per share, if the company is not an Alberta reporting issuer within 60 days of closing.
7 July 2006director interest notice● Neutral
Oilsands Quest Inc insider Christopher H Hopkins bought 16,800 shares on the open market.
7 July 2006director interest notice● Neutral
Oilsands Quest Inc insider Karim Hirji bought 1,000 shares on the open market at $5.95.
7 July 2006substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial Oilsands Quest Inc shareholding (3.36% of votes).
7 July 2006director interest notice● Neutral
Oilsands Quest Inc Chairman & CEO T Murray Wilson bought 16,800 shares on the open market at $5.95.
14 June 2006asset acquisition disposition● NeutralMajor
On June 9, 2006 the company agreed to buy out the minority holders of its subsidiary Oilsands Quest Inc. (OQI), in which it owns 59.5% on a fully diluted basis; OQI holds exploration permits over 508,000 net acres in northwest Saskatchewan. Other OQI holders would swap each share for 7.95 exchangeable shares, exchangeable one-for-one into CanWest stock, for approximately 73.9 million CanWest shares in total, which would substantially dilute existing CanWest holders. The press release says the deal needs OQI shareholder and regulatory approval and is expected to close August 14, 2006.
7 June 2006substantial holder notice● Neutral
Resolute Performance Fund, Resolute Funds Limited disclosed a new substantial Oilsands Quest Inc shareholding (5.70% of votes).
25 May 2006director interest notice● Neutral
Oilsands Quest Inc insider Thornton J Donaldson received 100,000 shares and a 300,000-share option grant as part of the equity award.
5 May 2006director interest notice● Neutral
T Murray Wilson became a Oilsands Quest Inc Chief Executive Officer and company insider (initial ownership filing).
5 May 2006director interest notice● Neutral
Oilsands Quest Inc Chief Executive Officer T Murray Wilson received a stock option grant for 4,000,000 shares.
27 Apr 2006director interest notice● Neutral
Oilsands Quest Inc Secretary William G Timmins sold 66,000 shares.
18 Apr 2006director interest notice● Neutral
Donald Padgett became a Oilsands Quest Inc company insider (initial ownership filing).
11 Apr 2006securities registration● Neutral
Oilsands Quest Inc filed the final prospectus for a registered offering.
5 Apr 2006securities registration● Neutral
Oilsands Quest Inc amended a filing by which it registered a small-business securities offering with the SEC.
20 Mar 2006late filing notice▼ Bad
Oilsands Quest Inc notified the SEC that its quarterly report would be filed late.
10 Mar 2006director interest notice● Neutral
Oilsands Quest Inc director Roderick Haverslew received a stock option grant for 250,000 shares.
9 Mar 2006director interest notice● Neutral
Roderick Haverslew became a Oilsands Quest Inc director and company insider (initial ownership filing).
9 Mar 2006substantial holder notice● Neutral
Goodman & and 1 other disclosed a new substantial Oilsands Quest Inc shareholding (8.82% of votes).
3 Mar 2006director interest notice● Neutral
Oilsands Quest Inc Secretary William G Timmins sold 20,000 shares.
22 Feb 2006director interest notice● Neutral
Oilsands Quest Inc director Ronald Phillips received a stock option grant for 250,000 shares.
14 Feb 2006substantial holder notice● Neutral
Wellington Management Company, LLP disclosed a new substantial Oilsands Quest Inc shareholding (5.22% of votes).
10 Feb 2006director interest notice● Neutral
Oilsands Quest Inc director Ronald Phillips received a stock option grant for 250,000 shares.
8 Feb 2006director interest notice● Neutral
Ronald Phillips became a Oilsands Quest Inc director and company insider (initial ownership filing).