Technically Speaking Time To Buy OPC-T

OPTI Canada to Host Third Quarter 2009 Results Conference Call on October 28, 2009 17:30 EDT Wednesday, October 21, 2009

TSX: OPC

CALGARY, Oct. 21 /CNW/ - OPTI Canada Inc. (OPTI) announced today that it will conduct a conference call at 6:30 a.m. Mountain Time (8:30 a.m. Eastern Time) on Wednesday, October 28, 2009 to review the Company's third quarter 2009 financial and operating results. Chris Slubicki, President and Chief Executive Officer, and Travis Beatty, Chief Financial Officer, will host the call. To participate in the conference call, dial:

    <<                   (800) 814-4860 (North American Toll-Free)                   (416) 644-3419 (Alternate)     >> 

Please reference the OPTI Canada conference call with Chris Slubicki when speaking with the Operator.

A replay of the call will be available until November 11, 2009, inclusive. To access the replay, call (416) 640-1917 or (877) 289-8525 and enter passcode 4176079, followed by the pound (No.) sign.

This call will also be webcast, and can be accessed on OPTI Canada's website under "Presentations and Webcasts" in the "For Investors" section. The webcast will be available for replay for a period of 30 days. The webcast may alternatively be accessed at: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2852960.

About OPTI

OPTI Canada Inc. is a Calgary, Alberta-based company focused on developing major oil sands projects in Canada using our proprietary OrCrude(TM) process. Our first project, Phase 1 of Long Lake, consists of 72,000 barrels per day of SAGD (steam assisted gravity drainage) oil production integrated with an upgrading facility.

The upgrader uses the OrCrude(TM) process combined with commercially available hydrocracking and gasification. Through gasification, this configuration substantially reduces the exposure to and the need to purchase natural gas.

On a 100 percent basis, 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. Due to its premium characteristics, we expect PSC(TM) to sell at a price similar to West Texas Intermediate (WTI) crude oil.

The Long Lake Project is being operated in a joint venture with Nexen Inc. OPTI holds a 35 percent working interest in the joint venture. OPTI's common shares trade on the Toronto Stock Exchange under the symbol OPC.

Additional information regarding the Long Lake Project is available at

http://www.longlake.ca.

Get Ready For an Explosive Short Covering Rally Before Oct 28 2009 Financials

Highest % Increases By Leaders

Stocks open up 131 pts ahead of busy earnings week; C$, oil down

(Canadian Press)

TORONTO - The Toronto stock market headed for a flat open Monday morning as oil prices dipped and investors in Canada and the U.S. brace for another busy week of corporate earnings reports.

American futures pointed to a slightly higher open as investors also await the U.S. government's first reading on the economy in the third quarter later in the week.

The Dow Jones industrial futures rose 13 points points to 9,944, the Nasdaq futures edged up 0.5 or a point to 1,752.5 and the S&P 500 futures added 0.9 of a point to 1,077.8.

The Canadian dollar continued to back away after Bank of Canada governor Mark Carney reiterated late last week that the currency's recent sharp rise threatens to derail the economic recovery. And he made it clear that intervention in currency markets to control that surge is a possibility.

The loonie was down 0.58 cent to 94.69 cents US.

Oil prices held firm above the US$80 a barrel mark, although the December crude contract on the New York Mercantile Exchange dipped 14 cents to US$80.36 a barrel.

Other commodities were mixed as the December bullion contract on the Nymex slipped $2.20 to US$1,054.20 an ounce while December copper was up three cents to US$3.06 a pound.

The Toronto market is little changed since the beginning of the month even as the U.S. third quarter earnings season has seen many companies beat earnings expectations.

The TSX lost just over one per cent last month, led by declines in the energy and financial sectors as investors took some profits with the main index still up more than 50 per cent since the lows of early March.

Now in the coming week investors will take in reports from Canadian market heavyweights including utility TransAlta Corp. (TSX:TA), Canadian Pacific Railway (TSX:CP), Imperial Oil (TSX:IMO) and Nexen Inc. (TSX:NXY).

Meanwhile, the U.S. Commerce Department's report on third-quarter gross domestic product, the broadest measure of the economy's health, is due out on Thursday. Economists predict the economy grew at an annual rate of 3.2 per cent in the quarter, according to Thomson Reuters. That would mark the first quarter of growth after four straight declines.

Asian stocks closed higher as South Korea's central bank said economic growth accelerated to 2.9 per cent in the third quarter from the previous quarter - the fastest growth since the first quarter of 2002.

Asia's fourth largest economy has been bolstered by government stimulus spending, low interest rates, and a falling won which boosts exports. Massive stimulus spending also played a part in China's economic growth accelerating in the third quarter, according to official figures last week.

Japan's Nikkei 225 stock average rose 0.8 per cent, South Korea's Kospi advanced one per cent, Hong Kong's market was closed for a holiday and China's Shanghai benchmark gained 0.1 per cent.

London's FTSE 100 index inched up 0.12 per cent, Frankfurt's DAX gained 0.34 per cent while the Paris CAC 40 was ahead 0.18 per cent.

In other corporate news, The New York Times is reporting Rogers Communications (TSX:RCI.B) has made a multimillion dollar investment to become a minority stakeholder in Vuguru, a web video studio being spun off by former Disney chairman Michael Eisner.

The studio is currently held within Eisner's private media investment company Tornante. The Times says it expects a formal announcement today.

Jien Canada Mining Ltd. says it still holds the best offer to take over Canadian Royalties Inc. (TSX:CZZ) in a $192-million proposed deal and urged securityholders Monday to tender securities before the Oct. 27 deadline. Jaguar Financial (TSX:JFC) has said it will attempt to block the deal because debtholders would receive only 80 per cent of their principal back, not 101 per cent as required under the debt agreements.

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