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OPTI Canada Updates Long Lake Production
Published : May 19, 2011
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Keywords :   Canada | Market | Natural Gas | Oil |

CALGARY, ALBERTA--(Marketwire - May 19, 2011) - Concurrent with a press release issued today by its joint venture partner, OPTI Canada Inc. (OPTI) (News - Market indicators) announces that recent bitumen production at the Long Lake Project is averaging approximately 28,300 barrels per day (bbl/d) (9,900 bbl/d net to OPTI).

About OPTI

OPTI Canada Inc. is a Calgary, Alberta-based company focused on developing major oil sands projects in Canada. Our first project, the Long Lake Project, plans for approximately 72,000 barrels per day (bbl/d), on a 100 percent basis, of SAGD (steam assisted gravity drainage) oil production integrated with an upgrading facility. The Upgrader uses our proprietary OrCrude™ process, combined with commercially available hydrocracking and gasification. Through gasification, this configuration substantially reduces the exposure to and the need to purchase natural gas. On a 100 percent basis, the Project is expected to produce 58,500 bbl/d of products, primarily 39 degree API Premium Sweet Crude (PSC™). Due to its premium characteristics, we expect PSC™ to sell at a price similar to West Texas Intermediate (WTI) crude oil. The Long Lake Project is a joint venture between OPTI and Nexen Inc. (Nexen). OPTI holds a 35 percent working interest in the joint venture. Nexen is the sole operator of the Project. OPTI's common shares trade on the Toronto Stock Exchange under the symbol OPC.

Additional information relating to our Company, including our Annual Information Form, can be found at www.sedar.com.



OPTI Canada Inc.
Krista Ostapovich
Investor Relations
(403) 218-4705
ir@opticanada.com
or
OPTI Canada Inc.
Suite 1600, 555 - 4th Avenue SW
Calgary, Alberta, Canada T2P 3E7
(403) 249-9425
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Opti Canada Inc.

CODE : OPC.TO
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Opti Canada is a exploration company based in Canada.

Opti Canada holds various exploration projects in Canada.

Its main exploration properties are LEISMER, COTTONWOOD PROPERTY and LONG LAKE PROPERTY in Canada.

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Corporate Presentations of Opti Canada Inc.
5/22/2009Corporate Presentation
In the News and Medias of Opti Canada Inc.
8/27/2009OPTI Canada Announces Successful Completion of Debt Amendmen...
Financials of Opti Canada Inc.
4/27/2011Announces First Quarter 2011 Results
10/28/2009Announces Third Quarter 2009 Results
7/29/2009Announces Second Quarter 2009 Results
Project news of Opti Canada Inc.
5/19/2011s Long Lake Production
6/4/2009(Long Lake Property)Provides Project Update and Files Revised and Restated Year-...
Corporate news of Opti Canada Inc.
8/26/2011Announces Listing on TSXV
7/27/2011Announces Delisting from TSX
7/13/2011Announces CCAA Filing to Pursue Restructuring Agreement with...
6/14/2011Provides Update on Interest Payments Due June 15, 2011
4/21/2011to Host First Quarter 2011 Results Conference Call and 2011 ...
3/16/2011Files Year End Oil and Gas Disclosure
3/15/2011Provides Project Update and Webcast
11/21/2009Announces Closing of Previously Announced Financing, Foreign...
11/17/2009Announces Pricing of First Lien Senior Secured Notes
9/17/2009Comments on Trading Activity
8/26/2009Announces Successful Completion of Debt Amendment
6/6/2009Responds to Media Report
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