TSX: OPC May 13, 2009

About Company OPTI Canada Inc. is a Calgary, Alberta-based company, established in 1999 to develop major integrated bitumen and heavy oil projects in Canada using its proprietary, next-generation OrCrude™ process. OPTI is focused on developing the fourth and next major integrated oil sands project in Canada, Phase 1 of the Long Lake Project (the Project), in a joint venture with Nexen Inc. in which OPTI has a 35 percent working interest.

About Company

About Company The Long Lake lease is the location of the Phase 1 oil sands project. Located approximately 42km southeast of Fort McMurray in the Athabasca oil sands region of northern Alberta, and spans more than 25,382 hectares (98 sections) of land.  The Project began steam injection in mid-April 2007. Start-up of the Upgrader and production of first Premium Sweet Crude (PSC™) was announced on January 22, 2009. When fully operational, Phase 1 of the Long Lake Project is expected to produce 72,000 bbl/d of bitumen, which will translate to 58,500 bbl/d of high quality, 39° API Premium Sweet Crude. The more than two billion barrels of recoverable reserves and resources at Long Lake translates to a reserve life of approximately 40 years, with no exploration risk or declines.

About Company Phase 1 now fully funded and production began in late January 2009 Bitumen production averaged 13,400 bpd during Q1 2009 Ramping up and is now 16,000 bpd Cash on hand of $218M and available credit of $263M Plan on exiting year producing 27k to 30k bpd

About Company Projecting best-in-class netbacks

Management Christopher Slubicki, President and Chief Executive Officer Mr. Slubicki was formerly the Vice Chairman of Scotia Waterous. Mr. Slubicki was one of the founders of Waterous & Co., a private global oil and gas investment banking firm, where he was involved in all aspects of the firm’s strategic development as Senior Managing Director and Principal. Waterous & Co. was sold to The Bank of Nova Scotia in 2005. Prior to the founding of Waterous, Mr. Slubicki held operations management and engineering positions within the oil and gas industry including Placer CEGO Petroleum Ltd. and Chevron Canada Resources Limited.

Management Travis Beatty, Vice President, Finance and Chief Financial Officer Travis Beatty is currently Vice President, Finance and Chief Financial Officer of OPTI. Mr. Beatty was appointed to his current position in 2009. He joined OPTI in 2002 as Controller and since then has also held the roles of Treasurer and Director, Planning. Mr. Beatty is a Chartered Accountant and a Chartered Financial Analyst, and holds a B.Comm from the University of Calgary.

Management Kiren Singh, Vice President and Treasurer Ms. Singh, who joined OPTI in 2008 as Treasurer, has over 20 years of experience in corporate and project finance and corporate insurance with Canadian and international energy leaders including Mobil and ExxonMobil. Ms. Singh holds an MBA from the University of Calgary and a Chartered Financial Analyst designation.

Share Structure & Financials Shares Outstanding: 196M Shares Fully Diluted: 196M Options/Warrants: 7k Current Price: $2.88 52 Week High/Low: $25.40/$0.61 3 mo daily volume: 7,759,010 Cash on Hand: $218M Monthly Burn Rate: Changing 2008 Revenue: $0 Projected 2009 Revenue: $150M+ Management Ownership: < 5% Net Debt: $2B

1-Year Stock Chart

Calendar of Catalysts Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec X July/Aug: Q2 results should show ramping up of bitumen production Oct/Nov: If company hasn’t been bought out, debt covenants will become the big story. If production is greater than 20,000 bpd then shouldn’t be an issue.

Why Invest Now? Probably want to watch this one right now as it’s had a good run the last few days based on buyout rumours A relatively small company to be involved in only the 4th producing oil sands project Buyout target due to balance sheet weakness Should be a good proxy on oil Very liquid and lots volatility right now – could be a stock to trade

Contact Website: www.opticanada.com TSX: OPC Address: OPTI Canada Inc. Suite 2100, 555 4th Avenue SW Calgary, AB T2P 3E7 Phone: (403) 249-9425 Email: ir@opticanada.com TSX: OPC