Exhibit 99.1
News release via Canada NewsWire, Calgary 403-269-7605
Attention Business Editors:
OPTI Canada to Present at Credit Suisse Energy Summit
TSX: OPC
CALGARY, Jan. 29 /CNW/ - Sid Dykstra, President and Chief Executive
Officer of OPTI Canada Inc. (OPTI), will present an overview of the Company at
the 2009 Credit Suisse Energy Summit on Friday, February 6th at 10:00 a.m. MDT
from the Vail Cascade Resort in Colorado.
The presentation will be audio broadcast via live and archived webcast
and may be accessed at
http://w.on24.com/r.htm?e(equal sign)133571&s(equal sign)1&k(equal sign)40E99F0ACF1AD518CEC9E829AEDE0630. The
webcast will also be available on the OPTI website located under
"Presentations and Webcasts" within the Investors section for a period of 30
days.
About OPTI
OPTI Canada Inc. is a Calgary, Alberta-based company focused on
developing the fourth and next major integrated oil sands project in Canada,
the Long Lake Project, in a joint venture with Nexen Inc. The first phase of
the Project consists of 72,000 barrels per day of SAGD (steam assisted gravity
drainage) oil production integrated with an upgrading facility, using OPTI's
proprietary OrCrude(TM) process and 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 with low sulphur content, making it a highly
desirable refinery feedstock. OPTI has a 35 percent working interest in the
joint venture. OPTI's common shares trade on the Toronto Stock Exchange under
the symbol OPC.
Additional information regarding the Long Lake Project is available at
http://www.longlake.ca.
Forward-Looking Statements
Certain statements contained herein are forward-looking statements,
including statements relating to: the completion of the proposed working
interest sale to Nexen and use of proceeds therefrom; OPTI's operations;
business prospects, expansion plans and strategies; OPTI's plans and
expectations concerning the use and performance of the OrCrude(TM) process and
other related technologies; the cost, development and operation of the Long
Lake Project and OPTI's relationship with Nexen Inc. Forward-looking
information typically contains statements with words such as "intends,"
"anticipate," "estimate," "expect," "potential," "could," "plan" or similar
words suggesting future outcomes. Readers are cautioned not to place undue
reliance on forward-looking information because it is possible that
expectations, predictions, forecasts, projections and other forms of
forward-looking information will not be achieved by OPTI. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties. A change in any one of these factors could cause actual events
or results to differ materially from those projected in the forward-looking
information. Although OPTI believes that the expectations reflected in such
forward-looking statements are reasonable, OPTI can give no assurance that
such expectations will prove to be correct. Forward-looking statements are
based on current expectations, estimates and projections that involve a number
of risks and uncertainties which could cause actual results to differ
materially from those anticipated by OPTI and described in the forward-looking
statements or information. The forward-looking statements are based on a
number of assumptions which may prove to be incorrect. In addition to other
assumptions identified herein, we have made assumptions regarding, among other
things: market costs and other variables affecting operating costs of the
Project; the ability of the Long Lake joint venture partners to obtain
equipment, services and supplies, including labour, in a timely and
cost-effective manner; the availability and costs of financing; oil prices and
market price for the PSC(TM) output of the OrCrude(TM) Upgrader; foreign
currency exchange rates and hedging risks; government regulations and royalty
regimes; the degree of risk that governmental approvals may be delayed or
withheld; other risks and uncertainties described elsewhere in this document
or in OPTI's other filings with Canadian securities authorities.
Readers should be aware that the list of factors, risks and uncertainties
set forth above are not exhaustive. Readers should refer to OPTI's current
Annual Information Form, which is available at www.sedar.com, for a detailed
discussion of these factors, risks and uncertainties. The forward-looking
statements or information contained in this document are made as of the date
hereof and OPTI undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable laws
or regulatory policies.
%CIK: 0001177446
/For further information: Alison Trollope, Investor Relations Manager,
(403) 218-4705; OPTI Canada Inc., Suite 2100, 555 - 4th Ave. S.W., Calgary,
Alberta, Canada, T2P 3E7/
(OPC.)
CO: OPTI Canada Inc.
CNW 20:01e 29-JAN-09
