OIL OPTIMIZATION INC PROVIDES CORPORATE UPDATE

CALGARY, Feb. 2 /CNW/ -- 
CALGARY, Feb. 2 /CNW/ - Oil Optimization Inc. (TSXV:OOI) (the "Company") today advises that it has been named as a defendant in
 legal proceedings commenced by its former Chief Executive Officer,
 David Little, and its former Chief Financial Officer, Sandra Beaulieu,
 and Basenji Solutions Ltd., a corporation that provided consulting
 services, including the services of Ms. Beaulieu, to the Company. The
 plaintiffs allege, among other things, that they were wrongfully
 terminated by the Company.  Mr. Little served as Chief Executive
 Officer of the Company from October 27, 2010 until December 31, 2010
 and Ms. Beaulieu served as Chief Financial Officer of the Company from
 October 27, 2010 until December 29, 2010.  The Company intends to
 retain litigation counsel in Calgary, Alberta and looks forward to
 vigorously defending the proceedings.


About Oil Optimization Inc. (TSXV: OOI)


Oil Optimization Inc. is a junior oil and gas exploration company
 headquartered in Calgary, Alberta with operations located onshore
 Thailand. The Company currently holds interests in two exploration
 blocks, being a 100% interest in Block L3/50, a 50% interest in Block
 L9/48 and has conditionally been granted a 100% interest in Block
 L14/50. The Company, through its wholly-owned subsidiary, JSX Energy
 (Thailand) Limited, is focused on exploring and developing each of
 these blocks as well as seeking accretive acquisitions in Thailand.


The TSX Venture Exchange does not accept responsibility for the adequacy
 or accuracy for this release.


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.


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pOil Optimization Inc.br/ Chris Serin - Chief Financial Officerbr/ Phone [phone]br/ a href="http://www.oiloptimizationinc.com"www.oiloptimizationinc.com/a/p

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