Second Wave Petroleum Announces Granting of Options

Second Wave Petroleum Inc. (TSX VENTURE:SCS) ("Second Wave" or the "Company")
announces that certain directors, officers and employees of the Company have
been granted options to purchase an aggregate of 1,507,000 common shares of
Second Wave at an exercise price of $0.70 per share. The options have a five
year term and are subject to standard vesting provisions. Concurrent with the
new grants, options to purchase an aggregate of 522,500 common shares previously
granted to Second Wave employees who are neither directors nor officers of the
Company were cancelled. The grants and cancellations are subject to acceptance
by the TSX Venture Exchange in the ordinary course.


Second Wave also reports that the 6,015,131 common shares issued this week on
closing of the Company's previously announced equity financing are subject to a
four-month "hold period" under applicable regulatory requirements, which will
expire on June 19, 2009.


36,932,340 Common Shares

Second Wave Petroleum Inc. (TSXV:SCS)
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