Oil Optimization Inc. and Red Stag Resources Inc. Announce Conditional
Acceptance of Qualifying Transaction and Filing of Filing Statement

/Not for distribution to U.S. Newswire Services or for dissemination in the United States.  Any failure to comply with this restriction may constitute a violation of U.S. Securities laws./

CALGARY, Oct. 15 /CNW/ - Oil Optimization Inc. (TSXV: OOI.H) ("OOI") is pleased to announce, further to its news releases dated August 17 and August 26, 2010, that the TSX Venture Exchange (the "Exchange") has conditionally accepted its proposed qualifying transaction (the "Qualifying Transaction") with Red Stag Resources Inc. ("Red Stag ").  A Filing Statement in respect of the Qualifying Transaction has been prepared in accordance with the requirements of the Exchange and filed on SEDAR.  Shareholders are encouraged to go to www.sedar.com to review the Filing Statement.

OOI has also filed, in each province other than Quebec, a (final) prospectus in connection with the previously announced offering of common shares of OOI ("OOI Shares") which will now consist of a minimum of 21,666,666 Oil Optimization Shares and a maximum of 33,333,333 OOI Shares at a price of $0.15 per share (the "Offering").  In connection with the Offering, OOI and Red Stag have engaged Haywood Securities Inc. to act as lead agent for a syndicate of agents, which includes Union Securities Ltd., to offer and sell the OOI Shares on a commercially reasonable "best efforts" basis.

OOI and Red Stag  intend to close the Qualifying Transaction and Offering concurrently on or about October 27, 2010.

Trading of the OOI Shares will remain halted subject to Exchange approval to resume trading.

About Oil Optimization

OOI is a Capital Pool Company listed on the NEX.  As of the date hereof and prior to the completion of the Qualifying Transaction, OOI has not and will not have commenced any commercial operations and does not and will not have any assets other than  cash.  Upon completion of the Qualifying Transaction, the business of OOI will be the business of Red Stag.

About Red Stag Resources

Red Stag is a junior oil and gas exploration company headquartered in Calgary, Alberta.  Red Stag (through its subsidiary JSX Energy (Thailand) Limited) holds interests in two onshore exploration blocks in Thailand being a 100% interest in Block L3/50 and a third onshore block with a 50% interest in Block L9/48, and has conditionally been granted a 100% interest in a third onshore exploration block being Block L14/50 upon posting a bank guarantee.  Red Stag's operations are focused on exploring and, if warranted, developing these blocks, as well as seeking accretive acquisitions in Thailand.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning the completion of the Qualifying Transaction and the Offering. The forward-looking statements and information are based on certain key expectations and assumptions made by Oil Optimization, including expectations and assumptions concerning the results of its due diligence review of RSR and the results of RSR's due diligence review of Oil Optimization and the ability to obtain the required Exchange and shareholder approvals. Although Oil Optimization believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Oil Optimization can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, the results of the due diligence review on either Oil Optimization or RSR by the other are less than satisfactory or the parties are unable to obtain the required Exchange and shareholder approvals. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Oil Optimization undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Oil Optimization Inc.
Paul Jones - Chief Financial Officer
Phone: [phone]

Red Stag Resources Inc.
David Little - Chief Executive Officer
Phone [phone]