The extraction of oil from a wild microalgae biomass collected from a domestic wastewater treatment facility's high rate algal pond (HRAP) was investigated. An experiment plan was used to determine the most efficient extraction method, the optimal temperature, time and solvent system based on total lipids yield. Microwave-assisted extraction was the most efficient method whether in n-hexane or in a mixture of chloroform/methanol compared to Soxhlet, homogenization, and ultrasounds assisted extractions. This same wild biomass was cultivated in a photobioreactor (PBR) and the effect of osmotic stress was studied. The lipids extraction yield after 3 days of stress increased by more than four folds without any significant loss of biomass, however, the quality of extracted total lipids in terms of saturated, monounsaturated and polyunsaturated fatty acids was not affected by salinity change in the culture medium.