CALGARY, Jan. 21 /CNW/ - Oil Optimization Inc. (TSXV:OOI) (the "Company") announced that on January 20, 2011, it granted 7,250,000 stock
options (the "Options") to certain directors, officers and consultants of the Company and of
its wholly-owned subsidiary, JSX Energy (Thailand) Limited. Each
Option allows the holder thereof to purchase one common share in the
capital of the Corporation (each a "Common Share") at a price of $0.17 per Common Share, representing the closing price
of the Common Shares on the TSX Venture Exchange on January 20, 2011.
The Options expire on January 20, 2016.
The Options were granted pursuant to the Corporation's stock option plan
(the "Plan"). An aggregate of 12,184,643 Common Shares may be allotted for
issuance at any time under the Plan, of which 7,790,000 Common Shares
are reserved for issuance as at the date hereof.
About Oil Optimization Inc. (TSXV: OOI)
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 (Thailand)
Limited, will focus 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.
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
SOURCE Oil Optimization Inc.
For further information:
|Oil Optimization Inc. ||Oil Optimization Inc.|
|Luc Desmarais - President and CEO ||Chris Serin - Chief Financial Officer|
|Phone +662 259 6929 ||Phone (604) 657-5364|