Oil Optimization Announces Expiry of Well Program Option Under Block L14/50 Farm-in Agreement and Retention Bonus Share Issua...

Oil Optimization Inc. (TSX VENTURE:OOI) ("OOI" or the "Company") today announced
the expiry of the option (the "Well Program Option") to complete a well program
(the "Well Program") on Block L14/50, previously granted by OOI to Rockstone
Petroleum Limited ("Rockstone") pursuant to the terms and conditions of a
farm-in agreement (the "Farm-in Agreement") dated August 14, 2012 between OOI,
Rockstone and certain other affiliated parties.


In accordance with the terms and conditions of the Well Program Option,
Rockstone had the option to acquire an additional 35% working interest in Block
L14/50 in exchange for committing to fund the Well Program to a maximum cost of
US$1,500,000. As Rockstone did not make an election prior to the expiry of the
deadline provided under the Farm-in Agreement, the Well Program Option has
expired in accordance with its terms.


Luc Desmarais, the President and Chief Executive Officer of the Company, stated:
"While the parties endeavoured in good faith to complete the proposed Well
Program, final agreement could not be reached with respect to this program. We
continue to believe in the strength of our seismic data, as evidenced by the
interest shown in the Block by other third parties, and look forward to working
with Rockstone, as OOI's minority joint venture partner, to further explore and
develop the north Phetchabun basin."


As at the date hereof, Rockstone has earned a 22% working interest in Block
L14/50. Under the terms of the Farm-in Agreement, Rockstone has an obligation to
make a one-time cash payment of US$100,000 to OOI on or before the 10th day
following the expiry of the Well Program Option in exchange for earning an
additional 3% working interest in the Block. Thereafter, the parties have agreed
to finalize and execute a joint operating agreement, in substantially the form
agreed to in the Farm-in Agreement, which will govern all future operations on
Block L14/50 and pursuant to which the parties will agree to share the costs of
any further work programs based on their pro rata share in the Block. OOI's
wholly-owned subsidiary, JSX Energy Holdings Limited, through its local branch
office in Thailand, will continue to act as operator in respect of the Block.


The Company also announced that it has issued 150,000 common shares of the
Company, at a deemed issuance price of $0.05 per share, to each of Messrs. Chris
Serin and Darren Steffes, respectively the Chief Financial Officer and the Vice
President, Exploration of the Company, as a retention bonus. Such common shares
are subject to a hold period of four months and one day in accordance with
applicable securities laws.


Forward-Looking Statements

This news release may contain 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Oil Optimization Inc.
Christopher Serin
Chief Financial Officer
[phone]
[e-mail]
www.oilop.com