Second Wave Petroleum Announces Granting of Options

    
    TSX Venture Exchange: SCS
    70,779,294 Common Shares
    

CALGARY, May 4 /CNW/ - Second Wave Petroleum Inc. ("Second Wave" or the "Company") announces that the Company's board of directors has approved the grant of options to purchase an aggregate of 710,000 common shares of Second Wave at an exercise price of $3.35 per share. The options have been granted to officers and employees of the Company pursuant to the Second Wave incentive stock option plan, 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.

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For further information: Colin B. Witwer, President and CEO, Randy Denecky, VP, Finance and CFO, Second Wave Petroleum Inc., Calgary, Alberta, Canada, Telephone: [phone], Email: [email protected], Web: www.secondwavepetroleum.com