Opal Energy Corp (the "Company") (OPA:TSX-V) announced today that Mr. Mark S. Holt and Mr. Jim Raisanen have joined the Company as Vice President- Business Development and Senior Geologist respectively for its wholly owned subsidiary, Opal Energy, Inc. 

Mark S. Holt has 30 years of experience in all facets of the oil and gas industry and brings a network of contacts with other E&P companies which will serve the Company well in developing its business plan.

After graduating from the University of Oklahoma with a Petroleum Land Management Degree in 1978, Mark started his career as a Landman with Sun Oil Company.  After leaving Sun in 1986, he owned his own land consulting business specializing in acquisition and divestment transactions until he joined 3TEC Energy Company as Vice President of Land in 1998.  During his time at 3TEC, Mark played a vital role in the growth in the company from a start up to over $350 million in assets.  After the sale of 3TEC in 2003, Mark joined Gulf Energy Management Company as their Land Manager until coming to Opal. 

Mark did obtain the status of a Certified Professional Landman as a member of the American Association of Petroleum Landmen and he has served in several official positions with the local landmen associations which he has been associated with over his career.

Jim Raisanen has  worked over 25 years in the Texas Gulf Coast and Offshore Texas, and brings  a strong knowledge base of the major trends, companies, and geoscientists working the Gulf Coast. 

Having graduated in 1980 with a BA of Geology and minor in Business from Trinity University, Mr. Raisanen joined Coastal Oil & Gas, initially in San Antonio and later in Corpus Christi, Texas working there until 1991.  From 1992 to 1998, Mr. Raisanen was with American Cometra Inc. in Fort Worth, Texas where he assisted in the drilling and development of a number of producing properties and then was later involved in their divestiture. Mr. Raisanen rejoined El Paso Production Company (formally Coastal Oil & Gas which was taken over by El Paso) as a Senior Geologist from 1998 until 2007 when he joined the Company.  Mr. Raisanen was responsible for drilling and developing a number of El Paso's more important producing properties.

Mr. Raisanen is licensed by the Texas Board of Professional Geoscientists.  He is a member of the American Association of Petroleum Geologists and the Houston Geological Society. 

Mr. Ron Oligney, CEO says, "We are delighted to welcome Mark S. Holt and Jim Raisanen on board. They have a wealth of experience and will provide outstanding benefits to Opal in their areas of expertise.   We are looking forward to the depth and capacity for moving our prospect generation forward and to accelerate our efforts that require special expertise in working with our exploration partners."

Grants have been made pursuant to the Company's Stock Option Plan to purchase an aggregate of 300,000 shares subject to regulatory approval. The holders of the options may purchase their allocated number of common shares of Opal at a price of $0.35 per share on or before November 30, 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. 

Mueller #1 Well

The Mueller #1 well in Goliad County, Texas was drilled to a total depth of 3200 feet. Analysis of the well logs resulted in the decision to run pipe which was cemented in place. The well was perforated and tested in a sand unit in the Frio Formation.  On flow test, the well produced at a rate of 376 mcf/d (thousand cubic feet per day) with no condensate  and no water on a 14/64" choke with a flowing tubing pressure of 400 psi (pounds per square inch).  The well was subsequently shut-in awaiting production equipment installation and sales line tie-in. The Company estimates the first sales of natural gas will be in the second or third week of December. Jesse Allen, PE is the Company's qualified person with respect to the Mueller # 1 technical information.

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 "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.