BANGKOK, Thailand, May 24, 2011 /CNW/ - Oil Optimization Inc. (TSXV: OOI) (the "Company") today announced that it has commenced an Environmental Impact Assessment ("EIA") on Block L14/50, a 100% owned and operated petroleum concession onshore Thailand. Approval of the EIA, expected in ninety days, will allow the Company to proceed with its 3D seismic program over a 250 square kilometre area. The proposed 3D seismic program is based on 2D seismic data previously acquired on the concession, where five drilling leads were identified.

Block L14/50 covers 1,000,000 acres in central Thailand and includes the entire northern portion of the Petchabun Basin. The southern portion of the same basin has produced 8.6 million barrels of oil, while proven and probable reserves were stated at 32 million barrels, as at December 31, 2010. Production rights to the southern part of the basin are held by Pan Orient Energy Corp (TSXV: POE) and Australia's Carnarvon Petroleum Limited (ASX: CVN).

About Oil Optimization Inc. (TSXV: OOI)

Oil Optimization Inc. is an international junior oil and gas exploration company headquartered in Calgary, Canada with operations located onshore Thailand. The Company currently holds interests in three exploration blocks, being a 100% interest in Block L3/50, a 100% interest in Block L14/50 and a 50% interest in Block L9/48. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of 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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