Second Wave Petroleum Ltd fka SCS

[NYBob]

1,354 Years in the Making: The "NEW" War That Could
Rocket Oil Past $220 Before 2011

http://www.agorafinancial.com/reports/OST/NewWar/vp/OST_NewWar_vp.php?code=LOSTL930

The "NEW" War That Could Rocket Oil Past $220 Before 2011 -
1,354 Years in the Making:

http://agorafinancial.com/reports/OST/NewWar/vp/OST_NewWar_vp.php?code=LOSTL902

[mick]

i think war can be soon. in next two weeks?

[NYBob]

The "NEW" War That Could Rocket Oil Past $220 Before 2011 -
1,354 Years in the Making:

http://agorafinancial.com/reports/OST/NewWar/vp/OST_NewWar_vp.php?code=LOSTL902

[NYBob]

CA:SCS Second Wave Petroleum Inc. (TSXV)



2.93 Change:
+0.15 Open:
2.80 High:
2.93 Low:
2.80 Volume:
58,245
Percent Change:
+5.40%

[mick]

not much at link.

[mick]

i have not found which one taipan is touting.

[mick]

me again, i like these items Bob. thanx.

re;
Bakken res. -
SECOND WAVE PETROLEUM LTD CL A (TSX:SCS)
http://investorshub.advfn.com/boards/board.aspx?board_id=12714

but only me interested?
no, we are two now and its more but thee hide -
behind the blue curtains
God Bless

[NYBob]

Bakken res. -
SECOND WAVE PETROLEUM LTD CL A (TSX:SCS)
http://investorshub.advfn.com/boards/board.aspx?board_id=12714

but only me interested?
no, we are two now and its more but thee hide -
behind the blue curtains
God Bless

[NYBob]

Second Wave Reports Preliminary Results of Battle Creek CO(2) Pilot Flood and Farm-Out Agreement for Tableland

http://finance.yahoo.com/news/Second-Wave-Reports-cnw-961485426.html?x=0&.v=1

< TSX Venture Exchange: SCS 70,835,961 Common Shares >>
CALGARY, June 16 /CNW/ - Second Wave Petroleum Inc. ("Second Wave" or the "Company") is pleased to announce the preliminary results from its Battle Creek, Saskatchewan CO(2) pilot flood and the successful farm out of its Tableland, Saskatchewan exploration acreage.

Highlights

<<
- Battle Creek CO(2) Flood Stage One has to date resulted in a
production increase within the pilot area from 48 bbl/d of oil to
200 bbl/d. Total field production has increased to 220 bbl/d over a
60 day period.

- Full CO(2) flood initiated in Battle Creek with Stage Two CO(2)
injection scheduled to occur in second half of 2010.

- Successful farm out of Tableland acreage adds potential for 0.8 net
horizontal Sanish wells being drilled by year end at no cost to
Second Wave.

- The Battle Creek and Tableland activities represent positive upside
outside of Second Wave's Pekisko oil resource play in Judy Creek,
north west Alberta. The Company has initiated its post break-up
drilling program in Judy Creek and expects to be in a position to
report on results of recent drilling and fracturing activities at
Judy Creek in late June.
>>

Battle Creek


The Company's 100% working interest Madison oil reservoir in Battle Creek
south west Saskatchewan is a porous carbonate formation containing heavy oil
(11 degrees API) and associated solution gas. In Battle Creek the Company also
owns a 100% working interest in a gas reservoir in the Duperow formation which
produces high rates of natural gas with a CO(2) concentration of 84%. The
Company has an extensive data site over the area with proprietary 3D seismic
data covering both of the above noted pools and information from 21 wells
drilled and tested in the Madison oil reservoir to date and 4 wells drilled
and tested in the Duperow reservoir.

Production from the Battle Creek Madison oil pool was initiated in 1995 with a maximum production rate of 547 bbl/d of oil in 2004 from 15 producing well bores. Production from the Madison formation is typically characterized by high water cuts as the produced oil has a substantial higher viscosity, meaning less ability to flow, than the formation water at reservoir temperatures and pressures. The Battle Creek Madison pool had an average annual production rate of 30 bbl/d of oil in 2009 prior to the initiation of the CO(2) pilot flood.

In late 2009 the Company applied for and received approval to initiate an immiscible CO(2) pilot flood in the Madison formation whereby the CO(2) gas from the Duperow formation would be used to flood the pool. Technical data has implied that if successful this type of enhanced oil recovery scheme would reduce the viscosity of the reservoir oil in the formation which in turn could substantially improve oil production rates and recovery factors. The Company is not aware of any other immiscible CO(2) flood utilizing a natural source of CO(2) in Western Canada at this time.

The Company initiated its pilot CO(2) flood in the first quarter of 2010 with the pilot area containing one CO(2) injection well surrounded by 4 producing wells. As part of the pilot project, three suspended wells were reactivated and pool oil production was increased to 66 bbl/d from the 2009 average of 30 bbl/d. Production from the four producing wells within the pilot area was 48 bbl/d prior to the initiation of CO(2) injection. To date the Company has injected 1,000 tonnes of CO(2) within the pilot area with the first pressure response seen in early May of 2010. Since CO(2) injection was initiated, the production within the pilot area has increased from 48 bbl/d to 200 bbl/d of oil with the total pool production now at 220 bbl/d of oil. Since existing well bores and infrastructure were utilized for the pilot, the first phase has involved total capital expenditures of only $1.3 million to date. As the CO(2) gas is naturally produced there have been no costs to date associated with the procurement of CO(2) for this project. If production rates continue at current levels, payout on this project will be reached in approximately 175 days.

The Company remains cautiously optimistic on the results to date as this project is the only immiscible heavy oil CO(2) flood in Western Canada and therefore there is no true analog to measure these early results against.

Based on the results to date on this project the Company is moving ahead with the second and third stage which will involve setting up two additional pilot areas for CO(2) injection. Costs are expected to be lower for each subsequent injection phase as existing infrastructure will be utilized. The Company believes that it has substantially more CO(2) gas in the Duperow formation than what is required to fully flood its Madison oil pool in Battle Creek.

Although the reservoir characteristics appear geologically similar for all three stages there can be no certainty that these two additional pilot areas will have the same level of success seen in the first pilot. CO(2) injection in the second stage is scheduled to occur early in the third quarter with injection in the third stage scheduled to occur in the fourth quarter. The Company will look to provide additional guidance on the project once injection in stage two is initiated; however the Company has not budgeted for any increase in production rates from Battle Creek in 2010 in its previous guidance and will not do so until the longer term performance of the flood can be determined.

Tableland

The Company is also pleased to announce that it has successfully farmed out its exploration acreage in Tableland south east Saskatchewan. Currently the Company owns 11,840 acres in north Tableland at a 100% working interest. As per the terms of the agreement, the farmee will commit to spud a horizontal Sanish oil well by August 15, 2010 with the farmee to pay 100% of the costs associated with the drilling, completion and equipping of the well to earn a 60% working interest in 9 sections of land. The farmee will then have the option to spud a second horizontal well by November 15, 2010 under the same terms as the commitment well to earn 60% in the remaining acreage. The farmee has successfully drilled a number of Sanish horizontal oil wells in Tableland with the most recent well producing in excess of 180 bbl/d over a 30 day time period. Upon successful completion of the farm-out, Second Wave will benefit by having both wells drilled at no costs to the Company by an experienced operator in the area and if successful the Company will have 0.8 net horizontal Sanish wells producing at year end and 7,400 net remaining acres in Tableland. Second Wave has not budgeted for any production or cash flow from Tableland in 2010 and will not do so until results have been obtained from the first commitment well.

About Second Wave

Second Wave Petroleum is a growth-oriented oil and gas company focused on the production of crude oil and natural gas in Western Canada. Second Wave is defined by its focus on oil resource plays, specifically at Judy Creek, Alberta and its unparalleled drilling inventory. The Company will continue to pursue strategic farm-outs or dispositions to facilitate its capital focus on its Judy Creek Pekisko oil resource play. The Company is well-capitalized and is run by an experienced team of oil and gas industry professionals.

READER ADVISORIES

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.

Forward-Looking Statements. This news release contains forward-looking statements as to the Company's internal projections, expectations and beliefs relating to future events or circumstances. Forward-looking statements are typically (but not necessarily) identified by words such as "anticipate", "believe", "plan", "estimate", "expect", "plan", "intend", "potential", "may", "will", "should" or similar words suggesting future outcomes. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on them as they are subject to known and unknown risks and uncertainties, many of which are beyond the Company's control. Forward-looking statements are not guarantees of future outcomes. There can be no assurance that the plans, intentions or expectations contained in the forward-looking statements or upon which they are based will in fact occur or be realized, and actual results may differ from those expressed or implied in the forward-looking statements. The difference may be material.

Second Wave is subject to the inherent risks associated with the exploration, development, exploitation and production of oil and gas. More particularly, material risk factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements contained in this news release include: adverse changes in commodity prices, interest rates or currency exchange rates; accessibility of capital when required and on acceptable terms; lower than expected production of crude oil and natural gas; production delays; lower than expected reserve volumes on the Company's properties; increased operating costs; ability to attract and retain qualified personnel or to secure drilling rigs and other services on acceptable terms; competition for labour, equipment and materials necessary to advance the Company's projects; unforeseen engineering, environmental or geological problems; ability to obtain all required regulatory approvals on a timely basis and on satisfactory terms; and changes in laws and governmental regulations (including with respect to taxes and royalties). This list is not exhaustive. Readers should also review the risk factors described in other documents filed by the Company from time to time with securities regulatory authorities in Canada, including its most recent annual information form, copies of which are available electronically at www.sedar.com and at www.secondwavepetroleum.com.

Specific forward-looking statements contained in this news release include statements regarding: 2010 drilling plans generally; the future proposed phases of the Battle Creek CO(2) flood; and the expected timing for the commencement of flooding at Battle Creek and drilling at Tableland. In making such forward-looking statements, Second Wave has made various assumptions regarding, among other things: the accuracy of geological and geophysical data and interpretations of that data; future oil and natural gas prices; future capital requirements; future exchange rates; the accessibility and cost of associated services; the Company's ability to economically produce oil and gas from its properties and the timing and cost to do so; and its ability to obtain qualified staff, equipment and supplies in a timely and cost-efficient manner.

The forward-looking statements included herein are made as of the date of this news release and Second Wave undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by securities laws.



For further information

Colin B. Witwer, President and CEO, Randy Denecky, VP, Finance and CFO, Second Wave Petroleum Inc., Calgary, Alberta, Canada, Telephone: [phone] begin_of_the_skype_highlighting [phone] end_of_the_skype_highlighting, Email: [e-mail], Web: www.secondwa

[mick]

thanx fer updated on chart area.

[mick]

Bob we chat some and some followed here. up smartly today.

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (USD) $3.00
Change $ 0.26 (9.49%
Bid 3.00
Ask 3.04
Volume 2,816,606 good demand
Days Range 2.76 - 3.08
Last Trade 7/22/2010 3:59:47 PM
Click for detailed quote page

http://www.secondwavepetroleum.com/documents/pres/SCS-PPT-2010-06-10.pdf

http://blog.oilgasdividend.com/category/uncategorized

http://www.secondwavepetroleum.com

[NYBob]

Barrons Kopin Tan says:

The Bakken is no longer an undiscovered gem: Exploration companies with local perches - including EOG Resources (EOG), Continental Resources (CLR), Whiting Petroleum (WLL) and Brigham Exploration (BEXP) span the market cap spectrum from big to small have seen their shares rise 44% to 85% over the past six months.



Those companies do not include the oil companies that are working the Saskatchewan, Canada side of the Bakken oil play.

http://nextbigfuture.com/2008/02/barrons-covers-bakken-oil-says-not.html

e.g.,

[NYBob]

Bakken oil Formation
US proven reserves increase 15% with new Bakken assessment ... Most porosity in the middle member is associated with open, hydrocarbon-generated fractures; ...

http://bakkenoil.blogspot.com/

[NYBob]

Some interest in - Second Wave Petroleu (TSX:SCS)
Last Price (USD) $2.83
Change $0.09 (3.28%
Bid 2.83
Ask 2.84
Volume 46,531
Days Range 2.76 - 2.84
Last Trade 7/22/2010 2:14:28 PM

http://www.secondwavepetroleum.com/documents/pres/SCS-PPT-2010-06-10.pdf

http://blog.oilgasdividend.com/category/uncategorized

[NYBob]

mick well bakken is -
a golden black key -
what companies have you found holding
the land reserve?



the more drilled -
the more discovery -
the maps be altered fast

[mick]

none, looking fer thems.

[mick]

i like where cross section is. so own all this cross section mapper?



grey?
not much action?

[NYBob]

mick well bakken is -
a golden black key -
what companies have you found holding
the land reserve?

[mick]

so would beezzz better to trade on canadian exch.?

[NYBob]

mick, the SCSCF is a more grey market trading -



the Tabeland properties owned is
into the bakken but how much will have to drilled
to be seen?



SCSZF — Second Wave Petroleum, Ltd.

http://www.otcmarkets.com/stock/SCSZF/quote

[mick]

thanx Bob, does this trade much on otcbb.?

[NYBob]

mick' welcome to 'SECOND WAVE PETROLEUM LTD -

SCSZF — Second Wave Petroleum, Ltd.

http://www.otcmarkets.com/stock/SCSZF/quote

[mick]

hi Bob, is there a symbol fer otcbb.?

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (USD) $2.74
Change ? 0.13 (4.98%
Bid 2.74
Ask 2.84
Volume 151,481
Days Range 2.60 - 2.82
Last Trade 7/21/2010 3:58:54 PM

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (USD) $2.70
Change ? 0.0 (0.00%)
Bid 2.68
Ask 2.72
Volume 131,707
Days Range 2.68 - 2.75
Last Trade 7/13/2010 3:59:34 PM

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (USD) $2.53
Change ? -0.27 (-9.64%)
Bid 2.52
Ask 2.53
Volume 306,134
Days Range 2.53 - 2.95
Last Trade 5/26/2010 3:59:31 PM
Click for detailed quote page

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (USD) $2.70
Change ? -0.09 (-3.23%)
Bid 2.70
Ask 2.75
Volume 170,353
Days Range 2.69 - 2.88
Last Trade 3/18/2010 3:59:02 PM
Click for detailed quote page

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (CAD)
$ 1.6
Change
? -0.06 (-3.61%)
Bid 1.62
Ask 1.65
Volume 40,206
Day's Range 1.60 - 1.66
Last Trade 3:35:32 PM EST
Click for Detailed Quote Page

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (CAD)
$ 1.4
Change
▲ 0.03 (2.19%)
Bid 1.40
Ask 1.42
Volume 145,697
Day's Range 1.40 - 1.45
Last Trade 3:57:59 PM EDT
Click for Detailed Quote Page

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (CAD)
$ 1.15
Change
◊ 0
Bid 1.15
Ask 1.20
Volume -
Day's Range - - -
Last Trade 3:27:11 PM EDT
Click for Detailed Quote Page

[NYBob]

Second Wave Petroleu (TSX:SCS)
Last Price (CAD)
$ 0.8
Change
▲ 0.01 (1.27%)
Bid 0.80
Ask 0.89
Volume 522
Day's Range 0.80 - 0.80
Last Trade 3:28:07 PM EDT
Click for Detailed Quote Page

[NYBob]

Second Wave Petroleum (Tier2) (TSX:SCS)
Last Price (CAD)
$ 0.82
Change
▲ 0.04 (5.13%)
Bid 0.82
Ask 0.99
Volume 516
Day's Range 0.82 - 0.82
Click for Detailed Quote Page
Last Trade:15:22:19 EDT May-12-09

[NYBob]

Second Wave Petroleum (Tier2) (TSX:SCS)
Last Price (CAD)
$ 0.45
Change
◊ 0
Bid 0.41
Ask 0.51
Volume 655
Day's Range - - -
Click for Detailed Quote Page
Last Trade:12:21:54 EST Mar-6-09

[NYBob]

Second Wave Petroleum (Tier2) (TSX:SCS)
Last Price (CAD)
$ 0.46
Change
◊ 0
Bid 0.46
Ask 0.55
Volume 200
Day's Range - - -
Click for Detailed Quote Page
Last Trade:14:50:44 EST Jan-14-09

[NYBob]

Second Wave Petroleum (Tier2) (TSX:SCS)
Last Price (CAD)
$ 0.65
Change
▼ -0.10 (-13.33%)
Bid 0.60
Ask 0.87
Volume 5,145
Day's Range 0.65 - 0.75
Click for Detailed Quote Page
Last Trade:16:00:00 EST Dec-10-08

[NYBob]

SECOND WAVE PETROLEUM INC (Tier
(CDNX: SCS.V)
Last Trade: 0.90
Trade Time: Oct 17
Change: Down 0.10 (10.00%)
Prev Close: 1.00
Open: 1.00
Bid: 0.90
Ask: 1.04
1y Target Est: N/A
Day's Range: 0.90 - 1.00
52wk Range: 0.26 - 3.80
Volume: 61,00
http://finance.yahoo.com/q?s=SCS.V
God Bless

[NYBob]

Second Wave Petroleum Announces Second Quarter Results and Completion of the Milagro Acquisition -
Tue Sep 2, 7:01 AM

http://ca.news.finance.yahoo.com/s/02092008/28/link-f-ccnmatthews-second-wave-petroleum-announces-second-quarter-results-completion.html

CALGARY, ALBERTA--(Marketwire - Sept. 2, 2008) -

Second Wave Petroleum Inc. -
("Second Wave" or the "Company") (TSX VENTURE: SCS.V) is pleased
to announce its operating and financial results for the three
and six months ended June 30, 2008 and the successful completion
of its Milagro Energy Inc. (Milagro) acquisition.

Highlights:

- Production increased to 783 boe/d -
up 55% from the first quarter of 2008 -
and up 27% on a fully diluted share basis -
from the first quarter.
Exit rate for the quarter was 925 boe/d -
with current production rates at 1,025 boe/d.

- Cash Flow from operations increased to $2,596,000 -
up 60% from the first quarter of 2008 -
and up 31% on a fully diluted share basis -
from the first quarter

- Operating Netbacks increased to $54.58 per boe up 22% from
the first quarter

- Successfully completed the corporate acquisition of
Milagro Energy Inc.

- Closed an equity financing for net proceeds of $10,000,000

- 2008 capital program expanded to $17mm and subsequently
in August, 2008 expanded to $20.4mm

- Hired 5 professionals and 1 administrative manager to
the staff in the second quarter

The following table summarizes some of the key financial results
for the second quarter.
Complete financial statements and management's discussion and
analysis for the period ended June 30, 2008 have been filed on
SEDAR ( www.sedar.com)
and can also be found on the Company's website at

http://www.secondwavepetroleum.com

http://ca.news.finance.yahoo.com/s/02092008/28/link-f-ccnmatthews-second-wave-petroleum-announces-second-quarter-results-completion.html

God Bless

[NYBob]

Second Wave Petroleum Inc. - Income Statement | Balance Sheet | Cash Flow
( CVE:SCS )
Income Statement | Balance Sheet | Cash Flow

http://cache.search.yahoo.net/search/cache?ei=UTF-8&p=SECOND+WAVE+PETROLEUM+INC&fr=ush2-fin&u=finance.google.com/finance%3Ffstype%3Dci%26q%3DCVE:SCS.A&w=second+wave+petroleum+inc+incorporated&d=SRr0jhg5RJDM&icp=1&.intl=us

God Bless

[NYBob]

SECOND WAVE PETROLEUM INC - right place at the right time -



God Bless

[NYBob]

Second Wave Petroleum Announces Extension of Offer for Milagro Energy
Friday August 1, 12:21 pm ET

http://biz.yahoo.com/ccn/080801/200808010477514001.html?.v=1

God Bless

[NYBob]

Second Wave Petroleum Announces Extension of Offer for Milagro Energy
Thursday July 17, 4:30 pm ET
CALGARY, ALBERTA--(Marketwire - July 17, 2008) -

Second Wave Petroleum Inc. -
(TSX VENTURE:SCS - News), as successor to Second Wave Petroleum Ltd. ("Second Wave" or the "Company") announces that the offer (the "Offer") of Second Wave and its wholly-owned subsidiary Second Wave Holdings Ltd. ("Holdings") to acquire all of the issued and outstanding common shares (the "Milagro Shares") of Milagro Energy Inc. ("Milagro") has been extended until 4:30 p.m. (Calgary time) on July 30, 2008. In the last extension which expired on July 16, 2008, 3,266,560 Milagro Shares were tendered and Second Wave has taken-up and paid for those shares resulting in Second Wave holding approximately 88.33% of the issued and outstanding Milagro Shares. The Company anticipates that it will obtain adequate shares in the current extension to achieve the 90% threshold required to complete a compulsory acquisition. Milagro shareholders are encouraged to tender their Milagro Shares to the extended Offer, as the Milagro Shares were delisted from trading on the TSX on May 30, 2008.


About Second Wave Petroleum

Second Wave Petroleum is a publicly traded, newly recapitalized junior oil and gas company focused on exploration and development of oil and natural gas in Alberta and south eastern Saskatchewan. Second Wave remains focused on organic growth through the drill bit on its existing acreage while continuing a process of adding accretive acquisitions in 2008.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The term BOE or BOEs may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion rate of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

31,101,447 Common Shares

The TSXV has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Colin B. Witwer
Second Wave Petroleum Inc.
President and CEO
[phone]
Email: [e-mail]

Randy Denecky
Second Wave Petroleum Inc.
VP, Finance and CFO
[phone]
Email: [e-mail]

1700, 520 - 5th Avenue SW
Second Wave Petroleum Inc.
Calgary, AB T2P 3R7
Website: www.secondwavepetroleum.com

Source: Second Wave Petroleum Inc.

http://finance.yahoo.com/q?s=SCS.V

[NYBob]

Second Wave Petroleum Announces Consolidation and Redesignation of Class A Shares, Change of Name, Reduction of Stated Capital Account, Appointment of Directors and Extension of Offer for Milagro
Thursday June 26, 8:30 am ET
CALGARY, ALBERTA--(Marketwire - June 26, 2008) -

Second Wave Petroleum Inc. -
(TSX VENTURE:SCS.A - News; "Second Wave" or the "Company") announces that at the Annual and Special Meeting (the "Meeting") of the Company held yesterday, the shareholders approved the consolidation of the Class A Shares of the Company on a one for ten (1:10) basis (the "Share Consolidation"), the amendment of the Articles of the Company to redesignate the Class A Shares as Common Shares (the "Redesignation"), the cancellation of the Class B Shares (the "Cancellation") and the change of the Company's name to -
Second Wave Petroleum Inc. (the "Name Change").
Effective as of the close of business yesterday, the Board of the Company approved the Share Consolidation, the Redesignation, the Cancellation and the Name Change.
The Board and management of the Company believe that the Share Consolidation, the Redesignation, the Cancellation and the Name Change will provide increased financial strength, flexibility and clarity to the Company's capital structure and is in the best interests of the Company and its shareholders.
Following the Share Consolidation, the Company has 31,081,425 Common Shares issued and outstanding.
It is anticipated that the Company's newly designated Common Shares will commence trading today under the amended name and original trading symbol of "SCS.A", which will be amended to "SCS" for trading on June 27, 2008.

The Company also announces that the shareholders approved the reduction of the Company's stated capital account, which was reduced by the amount of $33,003,382 following Board approval. The reduction in the share capital will be offset by a corresponding elimination of the Company's deficit.

The Company announces that a new slate of Directors was appointed at the Meeting. The Directors of the Company are Jim Reid (Chairman), Colin Witwer, Brian Baker, Bob Goods, Don Foulkes, Alan Steele and Neil Bokenfohr. The Company also announces the retirement of Robert F. Goods as Chief Executive Officer of the Company effective as of June 30, 2008, following two years of dedicated service to the Company. Mr. Goods will be replaced by Colin Witwer with a new title of President and Chief Executive Officer.

The Company also announces that its offer (the "Offer") to acquire all of the issued and outstanding common shares (the "Milagro Shares") of Milagro Energy Inc. ("Milagro") has been extended until 4:30 p.m. (Calgary time) on Wednesday, July 16, 2008.
In the last extension, the Company acquired an aggregate of 4,988,025 Milagro Shares and now holds approximately 86.38% of the issued and outstanding Milagro Shares.
Milagro shareholders are encouraged to tender their Milagro Shares to the extended Offer in order to obtain liquidity, as the Milagro Shares have been delisted from trading on the TSX.

About Second Wave Petroleum

Second Wave Petroleum is a publicly traded, newly recapitalized junior oil and gas company focused on exploration and development of oil and natural gas in Alberta and south eastern Saskatchewan. Second Wave remains focused on organic growth through the drill bit on its existing acreage while continuing a process of adding accretive acquisitions in 2008.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The term BOE or BOEs may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion rate of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

31,081,425 Common Shares

The TSXV has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Colin B. Witwer
Second Wave Petroleum Inc.
President and COO
[phone]
Email: [e-mail]

Randy Denecky
Second Wave Petroleum Inc.
VP, Finance and CFO
[phone]
Email: [e-mail]

1700, 520 - 5th Avenue SW
Second Wave Petroleum Inc.
Calgary, AB T2P 3R7
Website: www.secondwavepetroleum.com

Source: Second Wave Petroleum Inc.

http://biz.yahoo.com/ccn/080626/200806260470938001.html?.v=1

[NYBob]

SECOND WAVE PETROLEUM LTD CL A (CDNX: SCS-A.V) Last Trade: $3.80
Trade Time: Jun 26
Change: 0.00 (0.00%)
Prev Close: 3.80
Open: 0.40
Bid: 0.38
Ask: 0.39
1y Target Est: N/A
Day's Range: 0.35 - 0.41
52wk Range: N/A
Volume: 215,565

God Bless

[NYBob]

Second Wave Petroleum Announces Consolidation and Redesignation of Class A Shares, Change of Name, Reduction of Stated Capital Account, Appointment of Directors and Extension of Offer for Milagro
Thursday June 26, 8:30 am ET
CALGARY, ALBERTA--(Marketwire - June 26, 2008) -

Second Wave Petroleum Inc. -
(TSX VENTURE:SCS.A - News; "Second Wave" or the "Company") announces that at the Annual and Special Meeting (the "Meeting") of the Company held yesterday, the shareholders approved the consolidation of the Class A Shares of the Company on a one for ten (1:10) basis (the "Share Consolidation"), the amendment of the Articles of the Company to redesignate the Class A Shares as Common Shares (the "Redesignation"), the cancellation of the Class B Shares (the "Cancellation") and the change of the Company's name to Second Wave Petroleum Inc. (the "Name Change"). Effective as of the close of business yesterday, the Board of the Company approved the Share Consolidation, the Redesignation, the Cancellation and the Name Change. The Board and management of the Company believe that the Share Consolidation, the Redesignation, the Cancellation and the Name Change will provide increased financial strength, flexibility and clarity to the Company's capital structure and is in the best interests of the Company and its shareholders. Following the Share Consolidation, the Company has 31,081,425 Common Shares issued and outstanding. It is anticipated that the Company's newly designated Common Shares will commence trading today under the amended name and original trading symbol of "SCS.A", which will be amended to "SCS" for trading on June 27, 2008.

The Company also announces that the shareholders approved the reduction of the Company's stated capital account, which was reduced by the amount of $33,003,382 following Board approval. The reduction in the share capital will be offset by a corresponding elimination of the Company's deficit.

The Company announces that a new slate of Directors was appointed at the Meeting. The Directors of the Company are Jim Reid (Chairman), Colin Witwer, Brian Baker, Bob Goods, Don Foulkes, Alan Steele and Neil Bokenfohr. The Company also announces the retirement of Robert F. Goods as Chief Executive Officer of the Company effective as of June 30, 2008, following two years of dedicated service to the Company. Mr. Goods will be replaced by Colin Witwer with a new title of President and Chief Executive Officer.

The Company also announces that its offer (the "Offer") to acquire all of the issued and outstanding common shares (the "Milagro Shares") of Milagro Energy Inc. ("Milagro") has been extended until 4:30 p.m. (Calgary time) on Wednesday, July 16, 2008. In the last extension, the Company acquired an aggregate of 4,988,025 Milagro Shares and now holds approximately 86.38% of the issued and outstanding Milagro Shares. Milagro shareholders are encouraged to tender their Milagro Shares to the extended Offer in order to obtain liquidity, as the Milagro Shares have been delisted from trading on the TSX.

About Second Wave Petroleum

Second Wave Petroleum is a publicly traded, newly recapitalized junior oil and gas company focused on exploration and development of oil and natural gas in Alberta and south eastern Saskatchewan. Second Wave remains focused on organic growth through the drill bit on its existing acreage while continuing a process of adding accretive acquisitions in 2008.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

The term BOE or BOEs may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion rate of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

31,081,425 Common Shares

The TSXV has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Colin B. Witwer
Second Wave Petroleum Inc.
President and COO
[phone]
Email: [e-mail]

Randy Denecky
Second Wave Petroleum Inc.
VP, Finance and CFO
[phone]
Email: [e-mail]

1700, 520 - 5th Avenue SW
Second Wave Petroleum Inc.
Calgary, AB T2P 3R7
Website: www.secondwavepetroleum.com

Source: Second Wave Petroleum Inc.

http://biz.yahoo.com/ccn/080626/200806260470938001.html?.v=1

[NYBob]

SECOND WAVE PETROLEUM LTD CL A (CDNX: SCS-A.V) Last Trade: $0.38
Trade Time: 3:57PM ET
Change: Up 0.03 (8.57%)

http://finance.yahoo.com/q?s=SCS-A.V

http://investorshub.advfn.com/boards/board.aspx?board_id=12714

God Bless

[NYBob]

SECOND WAVE PETROLEUM LTD CL A (CDNX: SCS-A.V) Last Trade: $0.37
Trade Time: Jun 19
Change: 0.00 (0.00%)
Prev Close: 0.37
Open: 0.355
Bid: 0.37
Ask: 0.39
1y Target Est: N/A
Day's Range: 0.35 - 0.39
52wk Range: N/A
Volume: 380,749

God Bless

[NYBob]

(SCS-A.V) At 3:59PM ET: 0.39 Up 0.04 (11.43%)
SECOND WAVE PETROLEUM LTD CL A (SCS-A.V)
God Bless

[NYBob]

SECOND WAVE PETROLEUM LTD CL A
(CDNX: SCS-A.V)
Last Trade: 0.32
Trade Time: May 29

http://investorshub.advfn.com/boards/board.aspx?board_id=12714

[NYBob]

The Cap welcome to SECOND WAVE PETROLEUM LTD CL A
(CDNX: SCS-A.V)
Last Trade: 0.29
Trade Time: 1:51PM ET
Change: Up 0.01 (3.57%)
Prev Close: 0.28
Open: 0.28
Bid: 0.28
Ask: 0.29
1y Target Est: N/A
Day's Range: 0.28 - 0.29
52wk Range: N/A
Volume: 332,104

http://investorshub.advfn.com/boards/board.aspx?board_id=12714