Opal Energy Corp. (the �Company�) (TSX-V: OPA) announces today an update on its South Texas drilling program.

One of three leases to the Company�s Dolan prospect has expired, effective May 23, 2008.  The Dolan prospect is located in Live Oak County, Texas.  The expired lease to its central block comprised approximately 668 acres and the project is referenced in the Company�s NI 51-101 Statement of Reserve Data, dated effective December 31, 2007.  The Company has made a formal offer to the owner of the property to secure a new oil and gas lease to the central block, but has not yet completed those negotiations.  The Company plans to continue these discussions.  The Company will focus its Dolan prospect drilling efforts on the other two remaining leases, comprising approximately 764 acres, which are adjacent to the central block.  The Company continues to work toward obtaining partners to fund a portion of an exploration well for the Dolan prospect.

The Company emphasized that drilling its Big Bcf prospects remains a key objective in 2008. It has operating interests in four such prospects, including the Boettcher, Dolan, Kane-Brandon and Vitera, at target depths of 15,500 to 18,500 feet.  These prospects are currently being marketed to potential industry partners to obtain funding for a portion of the initial prospect wells. 

In addition to drilling its Big Bcf prospects, generally building its inventory of producing wells in South Texas, with a particular focus on Victoria County, is also one of the Company�s top priorities in 2008. The Company recently completed the data acquisition phase of a 3-D Seismic Survey in a 75 sq. mi. region of Victoria County, which it anticipates will yield prospects ranging from shallow, relatively low-risk Miocene and Frio prospects, to deeper and higher potential Yegua and Wilcox sands. Subsequent to completion of the data processing phase and securing additional financing, the Company plans to implement an aggressive drilling strategy in Victoria County.

In line with its strategic objectives, on March 1, 2008, the Company completed the Steffens 101 #1, located in Victoria County. The well�s production has averaged 600 mcf and 1 barrel of condensate per day, at FTP of 1410 psi. The Company has a 61.875% net revenue interest in the well, drilled to a depth of 4589 feet.

Opal CEO Barry Williamson commented, �We are pleased with the Steffens� production results and look forward to the completion of the 3-D data processing during the second quarter, which will allow us to begin identifying prospects in the area surveyed. In addition to our efforts in Victoria County, commencing drilling of our Big Bcf prospects will remain a major focus this year. Toward that end, we have made progress in securing drilling partners and hope to complete those efforts in the coming weeks.  As we continue our efforts to renew the recently expired Dolan prospect central block lease, we will also focus our attention on drilling an adjacent block on the Dolan prospect.�

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 targets in South Texas. The business strategy is to build asset value through drilling, growing a production platform upon which will be superimposed some potential high value exploration opportunities. Drilling inventory will be continuously enhanced by the implementation of a series of proprietary 3-D seismic shoots.