Opal Energy Corp (the "Company") (OPA:TSX-V) announced today at the North American Petroleum Expo (NAPE) in Houston that Barry Williamson will take over as Chief Executive Officer while retaining his seat on the Board of Directors.  Mr. Williamson brings an aggressive management style that will quickly derive shareholder value from the wealth of opportunities that the Company has assembled over the past fiscal year.

Mr. Williamson served in the Reagan Administration as the top energy policy advisor to the U.S. Secretary of Energy. He also served under President George H.W. Bush as Director of the U.S. Minerals Management Service. In 1993, Williamson was elected to the legendary Texas Railroad Commission which oversees the energy sector in Texas. He also has a depth of experience in raising and deploying capital for the energy industry. He was Finance Chairman for the Republican Party of Texas from 1999 to 2003.   Williamson also serves on the National Petroleum Council.

Additionally, the Company anticipates adding a nationally and internationally recognized technical expert to the Board of Directors in the coming days, consistent with its preparations to drill some of the biggest onshore wells in the United States.

Mr. Williamson commented, "I am highly impressed with the quality of the Opal team and the sheer volume of high quality prospects they have assembled.  I believe that you build an oil and gas company with the drill bit, so I will take a strong lead in getting Opal's capital structure organized and getting as many quality wells drilled in 2008 as possible. I see that as my number one priority."

Opal Chairman Ron Oligney said, "Barry has a reputation for the highest level strategic success combined with strict technical and management competence. He likely has the deepest Rolodex of any executive in the Texas oil and gas scene today. Needless to say, adding Barry's unique capabilities on top of our current second-to-none professional staff, this is a very good day for Opal Energy."

Simultaneous with this announcement, Tommy Bolin has resigned the position of CEO for personal health reasons, and has been assigned the position of Director of Deep Drilling Technology for the Company, providing access to his extensive experience in deep, high temperature and high pressure drilling. The Company has benefited greatly from Tommy's experience and his hand in assembling the team that is now in place. "We welcome the opportunity for Tommy's continued input as we move directly ahead with Opal's exploration effort," said Ron Oligney. 

Grants have been made pursuant to the Company's Stock Option Plan to purchase an aggregate of 3,550,000 shares subject to regulatory approval. The holders of the options may purchase their allocated number of common shares of Opal at a price of $0.42 per share on or before February 6, 2013. 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.