09:55 AM EST - Oil Optimization Inc. : announced today that it has entered into an arms-length letter of intent under which a strategic investor, with exploration and production experience, proposes to acquire an indirect 43% interest in the Company's petroleum concession L14/50 onshore Thailand by subscribing for shares to be issued by Red Stag Resources Limited, a 100%-owned subsidiary of the Company, for a subscription price of $2,340,000 U.S. Oil Optimization Inc.
shares V.OOI are trading up $0.01 at $0.03.
