Eaglewood Energy Inc.
TSX VENTURE : EWD

Eaglewood Energy Inc.

April 12, 2010 21:17 ET

CORRECTION FROM SOURCE: Eaglewood Announces Filing of Final Prospectus

CALGARY, ALBERTA--(Marketwire - April 12, 2010) - A correction from source is being issued with respect to the Eaglewood Energy Inc. press release that was disseminated on April 12, 2010 at 16:37 ET. The title read "Eaglewood Announces Filing of Preliminary Prospectus" but should have read, "Eaglewood Announces Filing of Final Prospectus." The following text remains unchanged:

(NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES)

Eaglewood Energy Inc. ("Eaglewood" or the "Corporation") (TSX VENTURE:EWD) is pleased to announce that it has filed a final short form prospectus (the "Final Prospectus") and a receipt has been issued by the Alberta Securities Commission for the Final Prospectus (the "Receipt"). The Final Prospectus qualifies the distribution of 13,500,000 common shares of the Corporation to be issued on the exercise or deemed exercise of 13,500,000 special warrants ("Special Warrants") previously issued by Eaglewood pursuant to a private placement completed on March 24, 2010 (the "Offering"). For details regarding the Offering and the Special Warrants, please refer to the Corporation's news releases dated February 23, 2010 and March 24, 2010.

The Special Warrants, pursuant to their terms, have been deemed exercised upon the issuance of the Receipt. As a result of that deemed exercise the Corporation has issued 13,500,000 Common Shares to the holders of Special Warrants and the Special Warrants have been cancelled.

No securities are being offered for distribution under the Final Prospectus. The Final Prospectus has been filed with the securities commissions in each of Alberta, British Columbia, Saskatchewan and Ontario. Copies of the Final Prospectus may be obtained from the Chief Financial Officer of the Corporation at 602, 304 - 8th Avenue, S.W., Calgary, Alberta, T2P 1C2, Telephone (403) 264-6944, and is also available electronically at www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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