OPE announces closing of engineering division asset sale

    HOUSTON, TX, April 1 /CNW/ - OPE Holdings Ltd. (the "Corporation") today
announced that it has completed, effective April 1, 2009, the sale of its
offshore engineering division assets in Houston, Texas and Trinidad & Tobago
as per the Corporation's February 23, 2009 Press Release and the Information
Circular of the Corporation dated February 20, 2009. All conditions of the
engineering division sale, including obtaining TSX Venture Exchange approval
and shareholder approval for the transaction, were satisfied prior to closing.
    The closing of this transaction will allow the Corporation to focus its
attention on the further development and commercialization of its proprietary
SSP(R) offshore floating platform technology. As previously disclosed, the
Corporation will be applying to the TSX Venture Exchange and filing Articles
of Amendment to change the company's name from "OPE Holdings Ltd." to "SSP
Offshore Inc." to better reflect its ongoing business focus.

    About OPE Holdings Ltd.

    The Corporation is a public company listed under the symbol "OPE" on the
TSX Venture Exchange. The Corporation's focus is on commercializing the
Corporation's proprietary SSP(R) FPSO platform.

    Certain statements contained herein constitute forward-looking
statements. Although the company believes the statements are reasonable, it
can give no assurance that such expectations will prove to be correct. The
company cautions investors that any forward-looking statements made by the
company are not guarantees of the future performance, and that the actual
results may differ materially from those in the forward-looking statements as
a result of various factors.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.

For further information:

For further information: L. Daniel Wilson, Executive Vice President of
the Corporation, at (403) 358-1110 (phone) or dwilson@opeinc.com

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890