OPTI Announces Receipt of Approvals & Expected Timing for Acquisition by CNOOC Limited

OPTI Canada Inc. ("OPTI" or the "Company") (TSX VENTURE:OPC) is pleased to
announce that it has received all of the required regulatory approvals for the
acquisition of OPTI by indirect wholly-owned subsidiaries of CNOOC Limited (the
"Acquisition"). The Acquisition remains conditional on the satisfaction of other
customary closing conditions. Subject to the satisfaction or waiver of all
conditions precedent, it is anticipated that the Acquisition will be completed
before the end of November, 2011.


More information regarding the Acquisition can be found at www.opticanada.com or
www.ey.com/ca/opti.


FORWARD-LOOKING INFORMATION

Certain statements contained herein are forward-looking statements, including,
but not limited to, statements relating to: the completion of the Acquisition
and the anticipated timing to the close of the Acquisition. Readers are
cautioned not to place undue reliance on forward-looking information because it
is possible that expectations, predictions, forecasts, projections and other
forms of forward-looking information will not be achieved by OPTI. By its
nature, forward-looking information involves numerous assumptions, inherent
risks and uncertainties. Actual events or results may differ materially from
those projected in the forward-looking information. Although OPTI believes that
the expectations reflected in such forward-looking statements are reasonable,
OPTI can give no assurance that such expectations will prove to be correct.
Forward-looking statements are based on current expectations, estimates and
projections that involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by OPTI and described
in the forward-looking statements or information. The forward-looking statements
are based on a number of assumptions that may prove to be incorrect. In addition
to other assumptions identified herein. Other specific assumptions and key risks
and uncertainties are described elsewhere in this document and in OPTI's other
filings with Canadian securities authorities. Forward-looking information in
this news release is provided for the purpose of providing information about
management's current expectations regarding the future. Readers are cautioned
that reliance on such information may not be appropriate for other purposes,
such as making investment decisions.


Readers should be aware that the list of assumptions, risks and uncertainties
set forth herein are not exhaustive. Readers should refer to OPTI's current
Annual Information Form, filed on SEDAR and EDGAR and available at www.sedar.com
and http://edgar.sec.gov, as well as the Company's information circular in
connection with the Master Plan filed on SEDAR, for a detailed discussion of
these assumptions, risks and uncertainties. The forward-looking statements or
information contained in this document are made as of the date hereof and OPTI
undertakes no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future events
or otherwise, unless so required by applicable laws or regulatory policies.
Additional information relating to our Company can be found at www.sedar.com.