Attention Business Editors:

OPTI Canada completes $1.8 billion in financing

    /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
    ANY U.S. NEWS SERVICES/

    CALGARY, April 15 /CNW/ - OPTI Canada Inc. ("OPTI") is pleased to
announce the closing of its initial public offering of common shares for gross
proceeds of $301 million. A total of 13,700,000 common shares were issued at a
price per share of $22.00. The Company now has 75.5 million common shares
outstanding and OPTI's shares have been listed for trading on the Toronto
Stock Exchange, under the trading symbol "OPC".
    "In the past month OPTI has raised over $1 billion in new equity and put
in place an $800 million limited recourse project debt facility, an
unprecedented accomplishment in the energy industry," said Sid Dykstra,
President & CEO of OPTI. "OPTI is now a widely held public company with
shareholders in Canada, the United States, Europe and Australia, and most
importantly, fully funded for its share of the Long Lake Project."
    The $3.4 billion Long Lake Project, the fourth and next major oil sands
project in Canada, is a 50/50 joint venture between OPTI and Nexen Inc. The
first phase consists of 72,000 barrels per day (b/d) 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
significantly reduces the exposure to and the need to purchase natural gas.
The Project is expected to produce 58,500 b/d of products, primarily 39
degrees API premium sweet crude, with a very low sulphur content, making it a
highly desirable refinery feed stock.
    Regulatory approvals for the Project were received in 2003 from the
Alberta Energy and Utilities Board and Alberta Environment. Construction of
the Long Lake Project is scheduled to start in the second half of 2004, with
SAGD bitumen production in 2006 and the upgrader operational in 2007.

    OPTI Canada was established in 1999 as a private company by ORMAT
Industries Limited, the developer of the OrCrude(TM) process. For the past
four decades, ORMAT has been involved in the development, engineering,
construction acquisition and operation of renewable energy power plants and
remote location, high reliability power units in over 60 countries around the
world. Through a subsidiary ORMAT now holds 10.6% of OPTI's shares.
    Additional Company and Project information is available at
www.opticanada.com and www.longlake.ca.

    Certain information contained herein is deemed to be forward-looking. The
Company believes that the expectations conveyed by the forward-looking
statements are reasonable based on information available to it on the date
such forward-looking statements are made. No assurances can be given as to
future results, levels of activity and achievements. Actual results may differ
materially from those anticipated or implied in the forward-looking
statements. All subsequent forward-looking statements, whether written or
oral, attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements. The
Company assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.

    The securities of OPTI Canada Inc. have not been registered under the
United States Securities Act of 1933 or the securities laws of any state in
the United States and may not be offered or sold in the United States unless
an exemption from registration is available.

For further information: Sid Dykstra, President & CEO, (403) 218-4708, 
George Crookshank, CFO, (403) 218-4710