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OOI

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Share Name Share Symbol Market Type
TSXV:OOI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Oil Optimization Updates on its Exploration Programs in Thailand

16/11/2011 8:42pm

Marketwired Canada


Oil Optimization Inc. (TSX VENTURE:OOI) ("OOI" or the "Company") wishes to
update its shareholders on the Company's operations onshore Thailand, in light
of recent flooding in some parts of the country.


The Company's L14-50 project in the north Phetchabun basin has not experienced
any flooding to date, although the rains can be heavy and unpredictable. As a
result, the Company has modified its proposed work program to focus on three
primary leads, starting with a 50-line kilometer 2D seismic survey. The
objective of the revised program is to mature one or more of the three leads
into drillable prospects, while minimizing technical and financial risk. The
seismic program will commence in Q1-2012 and will be followed by a drilling
program shortly thereafter. Funding for the Company's work program on L14/50 is
secured by irrevocable bank guarantees now held by the Thai Ministry of Energy.


The Company's two other onshore concessions, Blocks L9/48 and L3/50, have not
been impacted by the rains and work is proceeding as planned and on schedule.


About Oil Optimization Inc. (TSX VENTURE:OOI)

Oil Optimization Inc. is an international junior oil and gas exploration company
registered in Calgary, Canada, with operations onshore Thailand. OOI currently
holds a 100% interest in exploration Blocks L3/50, L14/50 and L9/48 for a total
of 2,500,000 acres. The Company is focused on exploring and developing each of
these blocks as well as seeking accretive acquisitions in the region.
www.oilop.com


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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