September 8, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — The board of directors of Oilsands Quest Inc. (AMEX: BQI) said that it has named Brian MacNeill as acting CEO of Oilsands Quest, replacing T. Murray Wilson. MacNeill will serve as CEO, directing day-to-day operations through a period in which the company is evaluating strategic alternatives.

The board's decision on a permanent CEO appointment will depend on the outcome of a strategic alternatives process.

MacNeill joined the Board of Oilsands Quest on August 25, 2009. He is an energy and financial industry executive who served as the president and CEO of Enbridge Inc., an integrated pipeline company, from 1991 to 2001. He has also been a non-executive member on boards of a number of Canadian organizations, including serving as chairman of the board of Petro-Canada from 2000 to 2009.

The Oilsands board has also appointed Ron Blakely as non-executive chairman of the board. Blakely joined the Board of Oilsands Quest on April 7, 2009.

Oilsands said that the moves follow a decision by the board to initiate a review of strategic alternatives and to appoint a special committee to oversee this process.

Paul Ching, as part of his role on the special committee, will provide added support to the technical staff of the company through the period of the strategic alternatives review.

Ching joined the Board on January 7, 2010, with a background in heavy oil production, operations, development and reservoir research achieved during a 34 year career with the Royal Dutch Shell group of companies.

Canada-based Oilsands Quest is exploring oil sands permits and licences, located in Saskatchewan and Alberta.

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