Oilsands Quest Inc. extends $60 million rights offering to September 12, 2011

Oilsands Quest Inc.

, announced today that it is extending its ongoing subscription rights offering originally announced on July 18, 2011 to September 12, 2011 at 5:00 p.m. Eastern Daylight Time. Holders of the subscription rights will now have until this extended date to exercise their rights or deliver a notice of guaranteed delivery. The Rights Offering was initially scheduled to expire on August 15, 2011 and it was then extended to August 26, 2011.