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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): October 15, 2008</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>Oilsands Quest Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Colorado</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-32994</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>98-0461154</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>800, 326 &#150; 11th Avenue S.W. Calgary, Alberta, Canada<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>T2R 0C5</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(403) 263-1623</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="justify" style="font-size: 10pt"><B>Item&nbsp;5.03 &#150; Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">On October&nbsp;15, 2008, at our annual meeting of shareholders held in Calgary Alberta, the Company&#146;s shareholders
approved an amendment to our Articles of Incorporation to increase the Company&#146;s authorized common stock from
500,000,000 shares to 750,000,000 shares. On October&nbsp;20, 2008 we filed Articles of Amendment to our Articles of
Incorporation with the Colorado Secretary of State to increase our authorized common stock which amendment became
effective immediately. A copy of the Articles of Amendment is attached hereto as Exhibit&nbsp;3.1. The amendment does not
affect the number of authorized shares of preferred stock we are authorized to issue and was disclosed in our proxy
statement for the annual meeting of shareholders.


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;8.01 &#150; Other Events</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">As described above, on October&nbsp;15, 2008, we held our annual meeting of shareholders in Calgary Alberta. Three
proposals were submitted to the shareholders for approval as set forth in our definitive proxy statement dated August
29, 2008. At the meeting 143,994,570 shares of our voting stock were present at the meeting in person or represented
by proxy (being Common Shares outstanding as of the record date and one share of Series&nbsp;B preferred stock which was
entitled to 27,379,840 votes). The voting shares present at the meeting represented approximately 56.2% of the shares
of voting stock outstanding and entitled to vote at the meeting and constituted a quorum. The votes on each proposal
were cast as described below.


<P align="justify" style="font-size: 10pt; text-indent: 4%">At the meeting the shareholders voted to re-elect the two Class&nbsp;B Directors to serve a three year term until the
2011 annual meeting and until their successors are elected and qualified. The names of the directors re-elected, and
the number of votes cast for and withheld were as follows:

<DIV align="center">
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<TR valign="bottom">
    <TD width="73%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name of Director</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Shares FOR</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>WITHHELD</B></TD>
</TR>

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<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:10px; text-indent:-10px">T. Murray Wilson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">140,356,257</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,638,313</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Thomas Milne</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">141,003,851</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,990,719</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD style="border-top: 0px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="justify" style="font-size: 10pt; text-indent: 4%">Additionally, the shareholders approved an amendment to our Articles of Incorporation to increase the number of
shares of common stock we are authorized to issue from 500,000,000 shares to 750,000,000 shares. The shares voted for,
against and abstained on the proposal were as follows:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="39%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>Shares FOR</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares AGAINST</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>ABSTAINED</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">125,154,788
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,131,917</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">707,864</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 0px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
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</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
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<P align="justify" style="font-size: 10pt; text-indent: 4%">Finally, the shareholders ratified and approved KPMG LLP as our independent registered public accounting firm.
The shares voted for, against and abstained on the proposal were as follows:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">

   <TD width="39%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>


</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>Shares FOR</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares AGAINST</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>ABSTAINED</B></TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">141,771,298
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">961,164</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,262,108</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 0px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="justify" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>


<P align="justify" style="font-size: 10pt">(d)&nbsp;<I>Exhibits</I>


<P align="justify" style="font-size: 10pt">3.1 Articles of Amendment, filed herewith.


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Oilsands Quest Inc.</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Registrant)<br><br></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: October&nbsp;21, 2008
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>/</B>s/ Karim Hirji&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Karim Hirji</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chief Financial Officer</TD>
</TR>
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</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3




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{"company-data": {"conformed-name": "Oilsands Quest Inc", "cik": "0001096791", "assigned-sic": "1090", "irs-number": "980461154", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32994", "film-number": "081133088"}, "business-address": {"street1": "205-707, 7TH AVENUE SW", "city": "CALGARY", "state": "A0", "zip": "T2P 3H6", "phone": "4032631623"}, "mail-address": {"street1": "205-707, 7TH AVENUE SW", "city": "CALGARY", "state": "A0", "zip": "T2P 3H6"}, "former-company": [{"former-conformed-name": "CANWEST PETROLEUM CORP", "date-changed": "20050318"}, {"former-conformed-name": "URANIUM POWER CORP", "date-changed": "19991013"}]}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 15, 2008
Oilsands Quest Inc.
(Exact name of registrant as specified in its charter)
Colorado
001-32994
98-0461154
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
800, 326 – 11th Avenue S.W. Calgary, Alberta, Canada
T2R 0C5
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(403) 263-1623
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.03 – Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On October 15, 2008, at our annual meeting of shareholders held in Calgary Alberta, the Company's shareholders
approved an amendment to our Articles of Incorporation to increase the Company's authorized common stock from
500,000,000 shares to 750,000,000 shares. On October 20, 2008 we filed Articles of Amendment to our Articles of
Incorporation with the Colorado Secretary of State to increase our authorized common stock which amendment became
effective immediately. A copy of the Articles of Amendment is attached hereto as Exhibit 3.1. The amendment does not
affect the number of authorized shares of preferred stock we are authorized to issue and was disclosed in our proxy
statement for the annual meeting of shareholders.
Item 8.01 – Other Events
As described above, on October 15, 2008, we held our annual meeting of shareholders in Calgary Alberta. Three
proposals were submitted to the shareholders for approval as set forth in our definitive proxy statement dated August
29, 2008. At the meeting 143,994,570 shares of our voting stock were present at the meeting in person or represented
by proxy (being Common Shares outstanding as of the record date and one share of Series B preferred stock which was
entitled to 27,379,840 votes). The voting shares present at the meeting represented approximately 56.2% of the shares
of voting stock outstanding and entitled to vote at the meeting and constituted a quorum. The votes on each proposal
were cast as described below.
At the meeting the shareholders voted to re-elect the two Class B Directors to serve a three year term until the
2011 annual meeting and until their successors are elected and qualified. The names of the directors re-elected, and
the number of votes cast for and withheld were as follows:
Shares
Name of Director
Shares FOR
WITHHELD
T. Murray Wilson
140,356,257
3,638,313
Thomas Milne
141,003,851
2,990,719
Additionally, the shareholders approved an amendment to our Articles of Incorporation to increase the number of
shares of common stock we are authorized to issue from 500,000,000 shares to 750,000,000 shares. The shares voted for,
against and abstained on the proposal were as follows:
Shares FOR
Shares AGAINST
ABSTAINED
125,154,788
18,131,917
707,864
Finally, the shareholders ratified and approved KPMG LLP as our independent registered public accounting firm.
The shares voted for, against and abstained on the proposal were as follows:
Shares FOR
Shares AGAINST
ABSTAINED
141,771,298
961,164
1,262,108
Item 9.01. Financial Statements and Exhibits.
(d)
Exhibits
3.1 Articles of Amendment, filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
Oilsands Quest Inc.
(Registrant)
Date: October 21, 2008
/
s/ Karim Hirji
Name: Karim Hirji
Title: Chief Financial Officer