Opal Energy Corp.
TSX VENTURE : OPA

Opal Energy Corp.

February 17, 2009 09:30 ET

Opal Announces Asset Sale to Private Texas Buyer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES

Opal Energy Corp. (the "Company") (TSX VENTURE:OPA) announces that its wholly owned subsidiary, Opal Energy, Inc. ("Opal USA"), has entered into a letter of intent dated January 29, 2009 with a privately owned Texas based LLC for the sale of certain Opal USA leasehold and seismic interests in Texas. Opal USA is a Texas incorporated subsidiary through which the Company invests in the U.S. Exploration and Production sector with a particular focus on natural gas exploration prospects in South Texas.

Opal USA's proposed sale of assets is not a related party transaction. The Opal USA assets are being acquired in consideration for US$2 million.

The Company's asset sale is subject to TSX Venture Exchange approval.

Opal Energy Corp.

Opal Energy Corp., through its U.S. subsidiary Opal Energy, Inc., offers an aggressive, disciplined and results-oriented vehicle to invest in the U.S. Exploration and Production "E&P" sector with a particular focus on natural gas exploration prospects in South Texas.

On behalf of the Board of Directors

Opal Energy Corp.

David Hughes, Director

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, production and exploration successes, continued availability of capital and financing, 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, Opal 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.

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

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