Second Wave Petroleum Inc.

Second Wave Petroleum Inc.

July 22, 2009 16:28 ET

Second Wave Petroleum Announces Granting of Options

CALGARY, ALBERTA--(Marketwire - July 22, 2009) - Second Wave Petroleum Inc. ("Second Wave" or the "Company") (TSX VENTURE:SCS) announces that options to purchase an aggregate of 831,000 common shares of Second Wave have been granted to certain directors, officers and employees of the Company at an exercise price of $0.90 per share. The options have a five year term and are subject to standard vesting provisions. The grants are subject to acceptance by the TSX Venture Exchange in the ordinary course.

47,807,340 Common Shares

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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