Is Oilsands Quest, Inc. (BQI) worth a look?
Posted June 30th, 2009 by theStockMasters...
In the last 52 weeks, Oilsands Quest, Inc. (AMEX:BQI) is down a crippling -83.50%. Why anything oil sands related? Oil sands stocks are engaged in one of the more expensive ways of producing crude oil. The sector has made a notable monthly rally after being crushed when oil prices fell from their highs last summer. Gains in energy prices should continue as the economy stabilizes, according to the Energy Information Administration. The U.S. Energy Department bureau predicted that a barrel of oil will cost $110 by 2010 -- gitty up.
BQI is currently in the middle of its channel pattern, with resistance around $1.25 a share. If oil continues to rise, look for a breakout of its current trend.
Everyone at the BQI offices seem to think now is the time to buy. Back in May, insiders at the company snatched up 213,500 shares at .85.
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Insider Trading |
Relationship | Date | Transaction | Cost | #Shares | Value ($) | #Shares Total | SEC Form 4 |
| WONG GARTH | Chief Financial Officer | May 12 | Buy | 0.85 | 10,000 | 8,500 | 10,000 | May 14 08:51 PM |
| Wilson T Murray | Executive Chairman | May 12 | Buy | 0.85 | 50,000 | 42,500 | 66,800 | May 14 08:49 PM |
| Wallin Pamela | Director | May 12 | Buy | 0.85 | 5,000 | 4,250 | 45,102 | May 14 08:48 PM |
| Tallman Gordon G | Director | May 12 | Buy | 0.85 | 40,000 | 34,000 | 200,000 | May 14 08:46 PM |
| Read John | Director | May 12 | Buy | 0.85 | 5,000 | 4,250 | 13,100 | May 14 08:45 PM |
| Phillips Ronald | Director | May 12 | Buy | 0.85 | 7,500 | 6,375 | 7,500 | May 14 08:43 PM |
| Hopkins Christopher H | Chief Executive Officer | May 12 | Buy | 0.85 | 25,000 | 21,250 | 42,266 | May 14 08:41 PM |
| Hopkins Christopher H | Chief Executive Officer | May 12 | Buy | 0.85 | 25,000 | 21,250 | 57,230 | May 14 08:41 PM |
| MILNE TOM G | Director | May 12 | Buy | 0.85 | 10,000 | 8,500 | 10,000 | May 14 08:41 PM |
| Blakely Ronald | Director | May 12 | Buy | 0.85 | 36,000 | 30,600 | 36,000 | May 14 08:40 PM |
Stockmasters, we normally don't follow penny stocks, but BQI is traded on the AMEX and has potential as the price of crude oil rises. Keep an eye on this one - if it gets to the lower end of it's price channel at around .80 a share, it's time to accumulate.
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