Some people have been calling me over the weekend asking why Oilsands Quest (BQI) is up 28% over the past 3 trading days.  To be honest, I have no idea why.  There has been no significant news nor can I find much information on the Internet.  My experience tells me, however, that something big is happening that only insiders know about.  Nevertheless, I do have some other theories:

• Oil prices, being at record highs, are once again bringing awareness to the Canadian oil sands.  However, I don't see any other oil sands stocks going through the roof like BQI....
  
  
• With the recent announcement of increased Alberta royalties, investors are looking elsewhere.  Oilsands Quest, being a huge oil sands player in Saskatchewan, is a natural benefactor.
  
  
• The large short position on BQI is finally getting squeezed.
  
  
• Somebody on Wall Street realized how cheap BQI is.

Personally, I would not be surprised to see in the near future an announcement about either an increase in reserves, the confirmation of their recent 10 billion barrels of reserves estimate, or even a takeover bid.