Oilsands Quest, Inc. (AMEX:BQI)
CAPS Rating:
An exploration stage company, engaged in the exploration and development of natural resource properties in Canada.
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An exploration stage company, engaged in the exploration and development of natural resource properties in Canada.
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Looking at BQI's lands and the debt they have accumulated (I believe I have read that they have over $400 million in the development phase and even more when adding the permit costs of their three lands), if they do not get adequate financing, this stock will tank and go into bankruptcy. They have gained 1 very good land space (Saskatchewan land), but is very far from being able to produce/sell any barrels from that land. I believe that they will go into bankruptcy before they will be able to sell that oil. However, if they do get that financing to produce the oil, this stock has a very good chance of outperforming, but the chance of outperforming is very, very low. I have also read that BQI is trying to sell this company for a while, but has not been able to find any buyers. I know that an investor has to take risk, but with my research, the risk is too high and you would rather find a safer stock to invest in. I accidentally bought this stock and am now deeply regretting it. Don't make the same mistake.
That was like last year! You are so not right just like your score!!!! Read the News: http://messages.finance.yahoo.com/mb/BQI ; http://www.investorvillage.com/smbd.asp?mb=294
BQI is a number 22 from the US top listed international stocks with highest upside potential!http://www.cnanalyst.com/2011/03/top-us-listed-international-stocks-with-highest-upside-potential-march-2-2011.html
This company actually has alot of debt. In fact too much debt. It has accumulated over $400 million in the development phase and according the going concerns of the most recent 10-q form, the three land they currently own has not made a dime for them. If you look on page 34 out of 41 (according to the print preview of Firefox) of the most recent 10-q form under Item 1A, Risk Factors, it says "Without additional funding, we may not be able to continue our operations beyond September 30, 2011." It also goes on to say, "During the fiscal years ended April 30, 2010 and 2009 we suffered net losses of $64 million and $89 million, respectively... a deficit accumulated during the development phase of $420 million." Then it goes on to say, "There is no assurance that we can generate net income, generate revenues or successfully explore and exploit our properties." This stock is very risky and because I am stuck in this stock because I didn't read the 10-q report before buying it. They do have one land that might do very well, but as previously stated, if they do not get the funding, they cannot continue operations. Do the research before buying this stock!
It has still around 4-5 years before it can produce any oil from the Saskatchewan land. And has being building up debt by the tens of millions per year because of the permits. Do you truly believe that they can last that long before collapsing and filing for bankruptcy? Stop speculating and become a real investor. And if you really have that much trust in "china analyst" then put $10000 into the #1 stock on their list and see how it does.
Research isn't considered as looking at "china analyst" and seeing there list of best bets on stocks. I usually read before buying my stocks, but I started listening to people on the internet before buying for this one and wont make the same mistake again.
p.s. I just started with this site and it is not like your score has anymore value than mine. Your score is still low.
Can you find me links that show their actual debt, please!
I'm also kind of new in this site .....Thanks
click the sec filing tab and find the annual report and read it like any other investor would. I referenced a quarterly report, but they just sent out the annual report.
How did the user accidentally buy this stock ?
I had around $500 left in my account and wanted to put it in the market ASAP, so I read this article about BQI. It talked about how there was this one awesome site that they have found and could produce lots of oil, so without reading anything else (like the SEC filings), I bought 800 stocks at $.54. Now I am just waiting for a good selling price. I am hoping that BQI will have one good day where it will shoot up like $.15 or maybe over a couple days, then I am going to sell it. I guess accidently was not the right word because it was not caused by a slip of click, but accidently in a sense that I did not carefully study this stock before buying it.
I bought it too, with the price of oil rising it makes oil sands more viable. I knew there was a lot of debt and would take a few years before they could produce. I figured this was a good opportunity for the Province of Saskatchewan to generate $$ like Alberta. I still think the government may help them out. I am only in for 3000 shares.