PIRAEUS, GREECE -- (Marketwire) -- 08/18/09 -- Omega Navigation Enterprises, Inc. (NASDAQ: ONAV) (SES: ONAV50), a provider of global marine transportation services focusing on product tankers, announced today that it will release its results for the second quarter and six months ended June 30, 2009 after the close of the market on Tuesday, September 8, 2009.

About Omega Navigation Enterprises, Inc.

Omega Navigation Enterprises, Inc. is an international provider of global marine transportation services through the ownership and operation of nine double hull product tankers. The current fleet includes nine double hull product tankers with a carrying capacity of 559,358 dwt, of which one double hull product tanker, with a capacity of 47,000 dwt, is owned through a 50/50 joint venture with Glencore International AG (through wholly owned subsidiaries). Seven of these nine product tankers are chartered out under period time charters. Furthermore, the company has also announced the signing of shipbuilding contracts in June of 2007 to construct and acquire five additional product tankers with a capacity of 37,000 dwt each scheduled for delivery between March 2010 and early in 2011. The company also announced in May of 2008 that it had entered into an agreement with an unrelated third party to purchase one newbuilding 47,000 dwt coated product / chemical tanker under construction at Hyundai Mipo Dockyard in South Korea, scheduled to be delivered in the third quarter of 2010.

The Company was incorporated in the Marshall Islands in February 2005. Its principal executive offices are located in Piraeus, Greece and it also maintains an office in the United States.

Omega Navigation's Class A common shares are traded on the NASDAQ National Market under the symbol "ONAV" and are also listed on the Singapore Exchange Securities Trading Limited under the symbol "ONAV 50."

Cautionary Statement Regarding Forward-Looking Statements:

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation.