* Says exploring alternatives including sale of co
* Cites capital needs to advance oil sands assets
* Says retains TD Securities Inc as financial adviser
Aug 17 (Reuters) - Oilsands Quest Inc said it has started exploring strategic alternatives including a potential sale of the company, citing the significant capital required to develop its oil sands assets in Saskatchewan and Alberta.
The company said it had retained TD Securities Inc as its financial adviser and might seek interim financing as the review progresses.
On May 13, the Calgary, Alberta-based company had raised $18.2 million through a private placement of flow-through and common shares.
The company's shares, which have fallen 35 percent in the past three months, closed at 51 cents Tuesday on the American Stock Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair) Keywords: OILSANDSQUEST/ (koustav.samanta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: koustav.samanta.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Cites capital needs to advance oil sands assets
* Says retains TD Securities Inc as financial adviser
Aug 17 (Reuters) - Oilsands Quest Inc said it has started exploring strategic alternatives including a potential sale of the company, citing the significant capital required to develop its oil sands assets in Saskatchewan and Alberta.
The company said it had retained TD Securities Inc as its financial adviser and might seek interim financing as the review progresses.
On May 13, the Calgary, Alberta-based company had raised $18.2 million through a private placement of flow-through and common shares.
The company's shares, which have fallen 35 percent in the past three months, closed at 51 cents Tuesday on the American Stock Exchange.
(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair) Keywords: OILSANDSQUEST/ (koustav.samanta@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: koustav.samanta.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.