Second Wave Petroleum Inc. ("Second Wave" or the "Company") (TSX VENTURE:SCS)
announces that the Company's board of directors has approved the grant of
options to purchase an aggregate of 788,500 common shares of Second Wave at an
exercise price of $1.80 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.


60,287,940 Common Shares
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