Opal Energy Corp.

Opal Energy Corp.

March 01, 2010 10:50 ET

Opal Energy Corp.: Clarification of Press Release Earlier Today

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2010) - Opal Energy Corp. (the "Company") (TSX VENTURE:OPA) wishes to clarify the terms of the agreement announced today with Listed Ventures Ltd. a New Zealand based company.

Opal will pay $10,000 per month to the joint venture for the next six months to actively identify prospects for exploration and development and 100% of the leasing costs on leases purchased by the joint venture for a 50% working interest in said prospects.

Opal Energy Corp.

Opal Energy Corp. is an independent exploration and production company based in Vancouver, B.C.

On behalf of the Board of Directors

Opal Energy Corp.

Michael Curtis, President and CEO

This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, production activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, actual results of drilling and completion operations on the initial prospects, continued availability of capital and financing, including securing financing to drill Wilcox trend prospects, the ability of joint operating partners to meet their financial obligations, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.

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

Contact Information