Second Wave Revamps Management Team

Second Wave Petroleum has changed up its management team. Robert Goods has been promoted to Chief Executive Officer. He joined the Company in June, 2006 to assist the Board in the initial stages of restructuring the Company. He has over thirty years of diversified experience in Canadian and International petroleum companies during which he held various senior roles with Husky Oil Ltd. for 13 years, where he served as Chief Operating Officer, Exploration and Production for Western Canada in his final two years. Subsequently, Mr. Goods was President and Chief Operating Officer for three petroleum companies with operations in China, Myanmar, Peru and Colombia.

Colin B. Witwer is now the new President and Chief Operating Officer.

Mr. Witwer is a Professional Engineer with over 10 years of varied oil and gas experience in Western Canada and internationally. Mr. Witwer previously held senior roles at Ketch Resources Trust, Bear Creek Energy Ltd. and Talisman Energy Ltd. He also previously held the position of Vice President of Operations for Bear Ridge Resources Ltd.

Randy L. Denecky is the new Vice President, Finance and Chief Financial Officer.

Mr. Denecky is a Chartered Accountant with over 20 years of experience. The majority of his oil and gas experience has been in senior roles with publicly traded junior oil and gas companies. He previously held the position as Chief Financial Officer of Canada Southern Petroleum Ltd.

Vincent A. Cuscheri now becomes Vice President, Exploration.

Mr. Cuscheri has over 30 years of technical and exploration management experience in Western Canada, the Canadian frontier and the Mediterranean Sea. He formerly held positions as Senior Geophysicist and Exploration Manager at Murphy Oil Ltd., Husky Oil Ltd. and Canterra Energy Ltd.