Why is oxygenated water not H2O2? Oxygenated water has become popular for a variety of uses recently - for health purposes internally as well as enhanced wound healing.

Anyhow, my dad asked me recently if I knew how it is that oxygenated water does not become hydrogen peroxide. I don't know the answer to it; but it got me thinking... How does this work? Does the oxygen not bond to the water molecule? If so, how does the bottle of water not just out gas when ever it is opened until the amount of oxygen contained in the bottle is equal to that of the room air.
The oxygen is dissolved in the water, just as salt can be dissolved. It does not (to any appreciable degree) combine with water molecules to form hydrogen peroxide.

The reason that oxygenated water is not fizzy like soda water (CO2) is the solubility of oxygen in water is about 2% that of CO2. So the amount of bubbles formed when the cap is removed is only about 1/50 as much as for soft drinks. Or champagne.