This simply will not work on some networks, as you will get messages similar to this:
A better way would be to do it via ChanServ, with the following aliases:
alias owner { /msg ChanServ OWNER $chan }
alias deowner ( /msg ChanServ DEOWNER $chan }
alias protect { /msg ChanServ PROTECT $chan $1 }
alias deprotect { /msg ChanServ DEPROTECT $chan $1 }
alias op { /msg ChanServ OP $chan $1 }
alias deop { /msg ChanServ DEOP $chan $1 }
alias halfop { /msg ChanServ HALFOP $chan $1 }
alias dehalfop { /msg ChanServ DEHALFOP $chan $1 }
NOTE: Owner mode usually doesnt allow opping others, but Protect downwards will do, to op someone else, its a case of putting thier name after the command, example: /protect nick, /op nick etc. This will only work if you have rights under ChanServ to give other people op rights though.