Attention Business Editors:

OPTI Canada Provides Update on Multi-Stage Expansion Plans

    -- Outlines strategy to reach 240,000 bbls/day of Premium Sweet Crude 
    production in 50/50 joint venture --
    
    -- Long Lake Phase 1 update: Project continues on-schedule and 
    on-budget --
    
    TSX: OPC

    CALGARY, Sept. 14 /CNW/ - OPTI Canada Inc. ("OPTI" or "the Company")
announced today the Company's plans to develop 240,000 bbls/day of Premium
Sweet Crude ("PSC") production in its oil sands joint venture with Nexen, Inc
("Nexen"). OPTI holds a 50 percent working interest in the joint venture.
Based on internal resource estimates, the three properties jointly owned by
OPTI and Nexen are estimated to contain over 14 billion gross barrels of
bitumen in place, with over 7 billion barrels net to OPTI. These estimates
represent bitumen in place and do not represent recoverable reserves or
resources.
    The joint venture partners' plans include three future phases in addition
to Phase 1 of the Long Lake Project, which is currently under construction.
Phase 1 of Long Lake is scheduled for first steam in late 2006 and Upgrader
start-up in mid-2007, and will be Canada's fourth integrated oil sands
project. Formal sanctioning of Phase 2 is anticipated to occur by early 2008
with approvals for Phases 3 and 4 following in approximately 24 month
intervals.
    Each subsequent phase will leverage the significant knowledge and
experience gained in the successful development to date of Phase 1. Each
future phase is planned to be of a similar size and design to the Long Lake
Project, and consists of integrated steam-assisted gravity drainage (SAGD) and
OrCrude(TM) Upgrader projects. Efficiencies gained by repeating and improving
upon existing execution plans without changing major process units are
expected to result in savings in engineering, module fabrication and on-site
construction costs. Staged development of future projects should allow OPTI to
fund its 50 percent share of project costs primarily using internally
generated cash flow and debt.
    "The success to date of our Long Lake Project, a direct result of our
unique technology and well-defined execution strategy, provides us with the
confidence to proceed with plans for future phases of growth to develop our
extensive resource base," said Sid Dykstra, President and Chief Executive
Officer of OPTI. "Our patented integrated process, which substantially
eliminates the requirement to purchase natural gas, provides a significant
competitive advantage and we are well positioned for outstanding growth
potential."

    Long Lake - Phase 1
    -------------------

    Phase 1 of the Long Lake Project continues to progress on-time and     
on-budget. Recent accomplishments include:

        -  Completion of over 150 of the approximately 700 Project modules,
           primarily in yards in the Edmonton area; delivery of over 70
           modules to site.
        -  Continued progress on the manufacturing of major equipment. In
           August the hydrocracker vessels, constructed in Japan, were loaded
           onto a cargo ship contracted to transport major equipment from
           countries that include Japan, Malaysia, India, Italy and the
           Netherlands. The ship is scheduled to arrive in Duluth, Minn. in
           late 2005 and the equipment is expected to be delivered to the
           site via train by early 2006.
        -  On-site construction force is ramping up, with approximately 1,100
           craft labour workers currently on-site. Maximum on-site craft
           labour workforce is planned to peak at approximately 2,000 in the
           second quarter of 2006. Access to some skilled trades is
           continuing to be a challenge with active recruiting efforts
           underway by our contractors.
        -  SAGD facility progress includes the delivery of four once-through
           steam generators, heat recovery steam generators for the two
           cogeneration units, delivery of the main pipe rack modules,
           assembly of the hot lime softeners and hydro testing the major
           SAGD tanks.
        -  Foundations for the Upgrader continue to be constructed for the
           OrCrude(TM) unit, the hydrocracker, the gasifier, the air
           separation plant and the sulphur plant. Major equipment and module
           deliveries for the Upgrader are scheduled to begin in the fall of
           this year. Construction of modules is underway in four module
           fabrication yards, with the first Upgrader modules and equipment
           currently arriving on-site.
        -  Completion of the drilling of 78 commercial well pairs, or 156
           horizontal wells, continues to progress ahead of schedule. To the
           end of August, 130 horizontal wells, or 83 percent of the total
           project wells, have been drilled.
        -  The SAGD Pilot continues to provide reservoir and operational data
           to support planning for commercial SAGD operations. Performance of
           the electric submersible pump (ESP) continues to be positive. A
           second well was equipped with an ESP in the third quarter. The
           Pilot is expected to continue operations through to the start-up
           of the commercial SAGD operation to allow for additional testing
           and evaluation of future advancements in SAGD recovery.

    FUTURE PHASES
    OPTI, as operator of the OrCrude(TM) Upgrader, owns a 50 percent working
interest in Phases 1 - 4 with Nexen holding the other 50 percent. Current
plans outline the development of resources currently owned by the joint
venture partners and provide the flexibility to control the pace of
development. In addition, there may be opportunities to process bitumen from
external sources as way to realize additional value from OPTI's proprietary
upgrading process.

    Long Lake - Phase 2
    -------------------
    The southern portion of the Long Lake lease, an area also referred to as
"Kinosis," is the planned location for the SAGD portion of Phase 2 of the Long
Lake Project. It is expected that the Upgrader will be constructed adjacent to
Phase 1. Planning and delineation for Phase 2 has already commenced;
activities to date include:

        -  Regulatory approval is in place for the second phase of the
           Upgrader. In August of this year, a public notice for the proposed
           Long Lake Phase 2 SAGD Project, Environmental Impact Assessment
           Report Proposed Terms of Reference was filed. Approval for the
           SAGD project is expected prior to project sanctioning in 2008.
        -  Internal estimates suggest that there is potentially over
           4 billion gross barrels of bitumen in place (over 2 billion
           barrels net to OPTI) in the Phase 2 area, based on approximately
           20 square miles of 3D seismic and approximately 100 core holes.

    The planned winter drilling program for 2005/2006 consists of 125 core
holes and 20 square miles of 3D seismic. It is expected that completion of
this program will provide the data required to finalize horizontal well
locations and to meet regulatory requirements.
    Detailed planning for this project has commenced and is expected to
culminate with formal sanctioning by OPTI and Nexen by early 2008. Assuming a
similar plan and timeframe to the current project, Phase 2 SAGD could be    
on-stream by late 2010 with Upgrader start-up anticipated by the second half
of 2011. For planning purposes, it is assumed the capital cost of Phase 2 will
be similar to that of Phase 1. Detailed cost estimates and definitive
execution plans and schedules will be finalized at the time of project
sanctioning.

    Phases 3 and 4
    --------------
    In addition to the Long Lake lease, OPTI and Nexen own oil sands leases
at Leismer and Cottonwood, also in the Athabasca oil sands region. Current
plans are to sanction Phase 3 approximately 24 months after the sanctioning of
Phase 2, with anticipated project completion three to three and a half years
later. It is anticipated that Phase 4 would be sanctioned approximately
24 months after Phase 3 is sanctioned, with a project schedule of a similar
duration. Lease delineation and preliminary environmental evaluations are
underway to meet this timeline.

    -- Leismer
    ----------
    The joint venture's Leismer property is located approximately 40 miles
south of Long Lake. To date:

        -  Over 100 wells have been drilled on this lease, including 35
           drilled in the winter of 2004/2005.
        -  Internal estimates suggest that there are potentially over
           4.0 billion barrels of gross bitumen in place (over 2.0 billion
           barrels net to OPTI).

    During the 2005-2006 winter season, up to 40 core holes are planned in
this area.

    -- Cottonwood
    --------------
    The Cottonwood area is located approximately 25 miles south west of Long
Lake.

        -  Initial internal estimates indicate there could be over 3 billion
           gross barrels of bitumen in place (over 1.5 barrels net to OPTI)
           at Cottonwood based on over 50 pre-existing wells in addition to
           nine core holes drilled last winter.
        -  This area also appears to have thick, high quality bitumen
           accumulations.

    During winter 2005/2006, 20 core holes, 15 square miles of 3D seismic and
over 70 miles of 2D seismic are planned to further delineate this resource.

    About OPTI
    OPTI Canada Inc. is a Calgary, Alberta-based company focused on
developing integrated oil sands projects. The first is the fourth major
integrated oil sands project in Canada, the $3.5 billion Long Lake Project, in
a 50/50 joint venture with Nexen, Inc. The first phase of the Project consists
of 72,000 barrels per day (bbl/d) of SAGD (steam assisted gravity drainage)
bitumen production integrated with an upgrading facility, using OPTI's
proprietary OrCrude process and commercially available hydrocracking and
gasification. Through gasification, this configuration essentially eliminates
the exposure to and the need to purchase natural gas. 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. First steam injection is scheduled to commence in late 2006 and the
Upgrader is scheduled to start up in the third quarter of 2007. OPTI's common
shares trade on the Toronto Stock Exchange under the symbol OPC.

    Forward-Looking Statements
    Certain information contained herein, including management's assessment
of OPTI's future plans and operations contains forward-looking statements that
involve substantial known and unknown risks and uncertainties. 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 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. Additional information about such risks and uncertainties is
contained in OPTI's current annual information form which is available at
www.sedar.com.
    %SEDAR: 00020397E

For further information: OPTI Canada Inc., Suite 2100, 555 - 4th Avenue 
SW, Calgary, Alberta, Canada, T2P 3E7; George Crookshank, Chief Financial 
Officer, (403) 218-4710; Alison Trollope, Investor Relations Manager, 
(403) 218-4705