Eaglewood Energy Inc.
TSX VENTURE : EWD

Eaglewood Energy Inc.

March 31, 2010 19:58 ET

Eaglewood Announces Filing of Preliminary Prospectus

CALGARY, ALBERTA--(Marketwire - March 31, 2010) -

(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 preliminary short form prospectus (the "Preliminary Prospectus") in connection with the qualification of 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.

No securities are being offered for distribution under the Preliminary Prospectus. The Preliminary Prospectus has been filed with the securities commissions in each of Alberta, British Columbia, Saskatchewan and Ontario and remains subject to completion or amendment. Copies of the Preliminary 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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