Oil Optimization Inc. Resumes Trading on the TSX Venture Exchange

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Oil Optimization Inc. (TSX VENTURE: OOI.H) ("OOI" or the "Company"), a capital
pool company previously listed on the NEX board of the TSX Venture Exchange (the
"TSXV"), announces that, following its reverse take-over acquisition (the
"Qualifying Transaction") of Red Stag Resources Inc. ("Red Stag") completed on
October 27, 2010, it has received final acceptance from the TSXV to be listed on
the TSXV as a Tier 2 issuer. The Company's common shares are expected to resume
trading on the TSXV effective November 5, 2010 under the symbol "OOI".


The Company also announces that it has replaced a bank guarantee (the
"Guarantee") previously posted with the Thai government by an arm's length third
party (the "Guarantor") to secure the Company's exploration obligations in
respect of Block L3/50 (the "Exploration Obligations"). The Guarantee was posted
pursuant to the terms of a guarantee agreement dated February 22, 2010 among Red
Stag, JSX Energy (Thailand) Limited ("JSX Energy"), a wholly owned subsidiary of
Red Stag, and the Guarantor (the "Guarantee Agreement"), and was secured by a
call option agreement dated February 22, 2010 between JSX Energy and the
Guarantor (the "Call Option Agreement"). The Company has repaid all fees and
penalties payable to the Guarantor in connection with the Guarantee and has
terminated the Guarantee Agreement and Call Option Agreement effective November
3, 2010. The outstanding obligations of the Company in respect of the Guarantee
will be terminated upon satisfaction of the Exploration Obligations.


Pursuant to the Qualifying Transaction, Luc Desmarais, the President and a
director of the Company, acquired ownership or control over 29,000,000 common
shares (the "Shares") of the Company, representing approximately 23.80% of the
issued and outstanding common shares of the Company. The 29,000,000 Shares were
issued on October 27, 2010 at a deemed value of $0.085 per Share pursuant to a
share exchange agreement among the Company, Red Stag and the shareholders of Red
Stag dated as of September 30, 2010, and consist of 25,000,000 Shares held by
JSX Energy Holdings (BVI) Ltd., a company controlled by Mr. Desmarais, and
4,000,000 Shares held directly by Mr. Desmarais. Mr. Desmarais did not hold any
securities of the Company prior to this transaction. The Shares are subject to
an escrow period in accordance with the policies of the TSXV.


Mr. Desmarais acquired the Shares for investment purposes and may from time to
time acquire additional common shares of the Company either on the open market
or through private acquisitions or may sell the Shares either on the open market
or through private dispositions. This news release is being issued under the
early warning provisions of Canadian provincial securities legislation. 


For further information on the Qualifying Transaction and the Guarantee, please
refer to OOI's Filing Statement dated October 15, 2010 which is available on
SEDAR (www.sedar.com).


About Oil Optimization Inc.

The Company is a junior oil and gas exploration company headquartered in
Calgary, Alberta. The Company now holds interests in two onshore exploration
blocks in Thailand being a 100% interest in Block L3/50 and a 50% interest in
Block L9/48 and has conditionally been granted a 100% interest in a third
onshore exploration block being Block L14/50. The Company, through its
wholly-owned subsidiary, JSX Energy, will focus on exploring and developing each
of these blocks as well as seeking accretive acquisitions in Thailand.


"Our management team is very pleased to resume trading on the TSXV" said David
Little, Chief Executive Officer of the Company. "This important step will help
ensure growth moving forward as a junior oil and gas exploration company. We
anticipate that access to the capital markets, along with the many relationships
we have forged with institutional and retail investors, will add significant
value over time, as the Company focuses on exploration and development of its
oil and gas concessions onshore Thailand."


Forward-Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and
similar expressions are intended to identify forward-looking information or
statements. More particularly and without limitation, this news release contains
forward looking statements and information concerning the expected activities of
Oil Optimization. The forward-looking statements and information are based on
certain key expectations and assumptions made by Oil Optimization. Although Oil
Optimization believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward looking statements and information
because Oil Optimization can give no assurance that they will prove to be
correct. By its nature, such forward-looking information is subject to various
risks and uncertainties, which could cause the actual results and expectations
to differ materially from the anticipated results or expectations expressed.
Readers are cautioned not to place undue reliance on this forward-looking
information, which is given as of the date hereof, and to not use such
forward-looking information for anything other than its intended purpose. Oil
Optimization undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, except as required by law.
Oil Optimization (TSXV:OOI.H)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024