ONL Online Energy

Online Energy Inc. (the "Company or Online") (TSX VENTURE:ONL) announces that it
granted options on August 31, 2011 to acquire up to 3,025,000 Common Shares of
Online, 2,350,000 of which were granted to directors and officers of Online.
Each grant of options is for a five year term, expiring on August 31, 2016. The
options vest over three years (1/3 on each of the first, second and third
anniversary of the grant date). The options are exercisable at a price of $0.50
per Common Share. The Common Shares of Online closed at $0.31 on August 30,
2011. 


There are now options outstanding to purchase a total of 3,888,333 Common Shares
of Online, or approximately 9.41% of Online's issued and outstanding Common
Shares. In addition, the Company has performance warrants outstanding to
purchase a total of 3,166,316 Common Shares of Online or 7.66% of Online's
issued and outstanding Common Shares.


Online is a domestic junior oil and gas exploration and production company with
producing properties and more than 54,000 net acres of undeveloped land in
Alberta. Interested parties are invited to view the Company's updated corporate
presentation which is on its website at www.onln.ca.

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