Opal Energy Corp.
TSX VENTURE : OPA

Opal Energy Corp.

July 17, 2007 13:38 ET

Opal Energy Corp: Stock Options Granted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) -

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

Opal Energy Corp (the "Company") (TSX VENTURE:OPA) reports that grants have been made pursuant to the Company's Stock Option Plan to purchase an aggregate of 400,000 shares subject to regulatory approval. The holders of the options may purchase their allocated number of common shares of Opal at $0.25 per share on or before July 17, 2012. The options are subject to a vesting schedule and any shares acquired pursuant to the option agreements may not be sold within 4 months of granting.

Opal Energy

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 sector with a particular focus on natural gas exploration targets in South Texas. The Company is actively identifying, funding and drilling a portfolio of modest to high-return natural gas exploration targets. Drilling risk is mitigated using advanced seismic techniques and establishing carried working interests in most wells by attracting funding partners for its wells. Opal is also currently undertaking a 75 square mile 3D seismic shoot.

On behalf of the Board of Directors

Opal Energy Corp

Ronald E Oligney, CEO and Director

John H. McAdam, President and Director

July 17, 2007

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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