News

OPTI Canada Inc. announces appointment of chief executive officer

June 5, 2001

Calgary, Alberta - OPTI Canada Inc. ("OPTI") is pleased to announce the appointment of Sid W. Dykstra as Chief Executive Officer.

Mr. Dykstra has more than 20 years of diversified experience in the oil and gas industry. Most recently, he was the President of Hunt Oil Company of Canada and prior to that, a founder, President, and Chief Operating Officer of Newport Petroleum Corporation. He holds a B.Sc. in chemical engineering from the University of Alberta and an MBA from Queens University.

Mr. Dykstra will be located in OPTI's office in Calgary, Alberta. OPTI Canada was established in 1999 to focus on the recovery and upgrading of Canadian heavy oil. The company's first project is a proposed commercial heavy oil production and upgrading facility near Fort McMurray, Alberta.

OPTI is a member of the ORMAT group of companies. ORMAT has developed proprietary bitumen upgrading technology, and is operating a commercial demonstration project near Cold Lake, Alberta.

ORMAT is a world leader in remote power generation systems using renewable energy sources and for the past 35 years, has been involved in the development, engineering, construction, and operation of energy projects worldwide.

For more information on the www.opticanada.com/LLproj.htm">Long Lake Project contact:

Sid Dykstra, President & CEO (403) 218-4708

This news release is not for dissemination in the United States or to any U.S. news services. 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.