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.

SOURCE Oil Optimization Inc.

For further information:

Oil Optimization Inc.
Chris Serin - Chief Financial Officer
Phone (604) 628-7124

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Oil Optimization Inc.

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