ONA Energy Inc.
CNQ : OEIX
FRANKFURT : O3X

ONA Energy Inc.

November 01, 2007 18:36 ET

Ona Energy Appoints Emile Gauvreau as Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2007) - Ona Energy Inc. (CNQ:OEIX)(FRANKFURT:O3X) pleased to announce that Emile Gauvreau has joined the Board of Directors of the Company.

Mr. Gauvreau has over 35 years of experience in international development, strategic planning, management and corporate governance in Canada, Asia, Africa and Latin America. Between 2003 and 2007, he was on the board of Directors of the Asian Development Bank representing Canada, the Netherlands, Ireland, Denmark, Finland, Norway and Sweden. He was also the Vice-President of the Canadian International Development Agency (CIDA) representing Africa and the Middle East and served as Canadian High Commissioner to Bangladesh, Ambassador to Burma, Ivory Coast, Liberia, Benin and Niger.

Mr. Gauvreau will replace Boo Jock Chong, who has resigned as a Director of the Company, but will remain with Ona in the capacity as a consultant. Mr. Chong will continue to assist the Company in dealing with its projects in the Orient.

Further to the Company's news release of October 22, 2007, the incentive stock options announced will be priced at $0.85 per share.

ONA Energy Inc. (www.onaenergy.com) is a Canadian-based international energy company focused on the acquisition and development of power generation projects.

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation's to be materially different from the results, performance or expectation implied by these forward looking statements. In particular there is no guarantee that the Yongxing power plant project will be producing commercially sold electricity in the anticipated time frames, or that the Company will be able to meet all funding obligations required to preserve its interest in the project. If the company does not meet its funding obligations under the terms of the joint venture agreement governing its interest in the project, the Company's interest may be significantly reduced.

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