Oilsands Quest Inc. (OQI) is a development-stage company, which operates through its subsidiary companies. It is engaged in a range of projects in the oil and gas industry in Western Canada with an emphasis on the oil sands. The projects of the Company include Saskatchewan Oil Sands, Alberta Oil Sands and Pasquia Hills Oil Shale. The wholly owned subsidiaries of the Company include Oilsands Quest Sask Inc. (OQI Sask), Township Petroleum Corporation (Township), Western Petrochemicals Corp. (WPC), Stripper Energy Services Inc. (Stripper), 1291329 Alberta Ltd., Oilsands Quest Technology Inc. and 1259882 Alberta Ltd. In December 2009, the Company completed a 40 kilometers two-dimensional (2-D) seismic program on the permits to the north and south of Axe Lake. In March 2010, the Company completed a nine hole exploration drilling program in the western township corner of the Wallace Creek permits. On March 23, 2012, the Company sold its Eagles Nest asset to Cavalier Energy Inc.