Second Wave Petroleum Inc. Announces Discovery of Judy Creek Oil Resource Play

Second Wave Petroleum Inc. (TSX VENTURE:SCS) ("Second Wave" or the "Company") is
pleased to announce that it has successfully drilled its first two 100% working
interest Pekisko oil wells within its Judy Creek core area in Northwest Alberta.
Building on this drilling success the Company has expanded its undeveloped land
position on the Pekisko play in Judy Creek to 46,500 net acres by purchasing an
additional 14,000 net acres at recent Crown sales.


Q1 Judy Creek Drilling Program

During the first quarter of 2009, Second Wave utilized proprietary 3-D seismic
data, shot in the fourth quarter of 2008, to drill two 100% working interest
Pekisko oil wells in order to evaluate the resource potential of its Judy Creek
lands as indicated by 3-D seismic data and previously existing well control.


The first well was drilled as a horizontal oil well in the Pekisko F pool at
10-28-063-09W5. The well was drilled and cased with the horizontal portion
intersecting 300m of the Pekisko F formation. The horizontal section was
barefoot completed and stimulated with a 20 m3 acid squeeze prior to being
tested. Post stimulation the well produced 23 degree API oil at rates in excess
of 300 boe/d (65% oil) over a 36 hour test period. The well was subsequently
placed on production in April and has produced at an average rate of 120 boe/d
(55% oil) over the first 30 days of production.


The second well was a vertical exploratory well drilled at 14-32-63-09W5, which
delineated the Pekisko G pool in addition to intersecting two exploratory uphole
targets previously identified by the Company's proprietary 3-D seismic data. The
Pekisko G formation was stimulated with an acid squeeze after which it tested 23
degree API oil at initial rates that exceeded 100 boe/d (55% oil) over a 20 hour
production test period. The Pekisko production test was shortened to ensure that
the Company could complete an evaluation of the uphole formations and tie the
discovery well into the Company's gathering system prior to spring break-up.
Both uphole natural gas discoveries were successfully completed and flowed at an
aggregate rate of 1.5 mmcf/d over a 24 hour test period. The Company has elected
to initially produce these uphole natural gas formations with production
commencing early in April. Production rates over the first 30 days averaged 400
mmcf/d. Based on the significance of this Pekisko flow test and the positive
results from the 10-28 horizontal, the Company has moved ahead with a horizontal
drilling program to develop the Pekisko G pool.


Future Judy Creek Resource Development

The Pekisko formation in Judy Creek is a carbonate reservoir which contains 23
degree API crude oil, associated solution gas and formation water. Historically
this formation, which is slightly sour, has been tested and developed with
vertical well bores resulting in limited commercial success. Initial production
data from the 10-28 horizontal well indicates that these Pekisko pools can be
economically developed within the current commodity price environment utilizing
new horizontal well drilling technology.


In its Judy Creek core area, the Company controls all of the related
infrastructure and facilities comprised of a wholly-owned oil battery and gas
processing plant. Second Wave has been able to utilize this infrastructure to
accommodate all incremental production from its first quarter drilling program
and, as the result of minor upgrades, has the capability to process 4,000 boe/d
of emulsion and 4 mmscf/d of gas. In the near term these facilities will be able
to accommodate planned additional development volumes with minimal capital
investment.


Based on the positive first quarter drilling results Second Wave has recently
acquired an additional 14,000 net acres of undeveloped land, increasing its
holdings on the Pekisko play in the area to 46,500 net acres. To date the
Company has evaluated approximately 5,800 acres of these undeveloped lands using
3-D seismic technology.


The Company has commenced its horizontal development plans for both the Pekisko
F and G oil pools and anticipates a follow up drilling program of 6 additional
horizontal drilling locations, the first two of which are scheduled to be
drilled in the fourth quarter of 2009. The Company has utilized its 3-D seismic
data and existing well information (2 new drills and 4 existing well bores) to
geologically map out the Pekisko F and G pools and believes that it has a
potential drilling inventory exceeding 50 horizontal locations on its current
100% working interest lands.


Following is a summary of the Company's expectations regarding its Pekisko
horizontal wells based on results to date:


- Initial 30 day production rates of 100 to 150 boe/d (55% oil)

- Expected 6 month production rates of 60 to 80 boe/d (65% oil)

- Recoverable Reserves of 120 mboe to 160 mboe (65% oil)

- Oil quality of 23 degree API with initial producing water ratios of 80%

- Average depth of 1,500m with 600m of horizontal leg

- Acid stimulation completed on horizontal leg

- Capital costs of $1.1 million to drill, complete and tie-in

To view the Company's current Corporate Presentation, please visit the Second
Wave website at www.secondwavepetroleum.com.


READER ADVISORIES

Barrels of Oil Equivalent (BOEs). The term BOE refers to barrel of oil
equivalent. BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of six mcf (six thousand cubic feet) to one bbl (one barrel) is
based on an energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the wellhead.


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: the Company's ability to economically develop its Pekisko
pools using new horizontal drilling technology; the scope and timing of a
follow-up drilling program for the Pekisko F and G pools; future horizontal
drilling locations; and expected production rates, product mix, oil quality,
capital costs and other stated features for the Pekisko wells. Statements herein
relating to "reserves" are also forward-looking statements, as they involve an
implied assessment, based on certain estimates and assumptions, that the
reserves described exist in the quantities predicted or estimated and can
profitably be produced in the future. 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 capital (including credit); 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.


Reserves Disclosure. The determination of oil and gas reserves involves the
preparation of estimates that have an inherent degree of associated risk and
uncertainty. The estimation and classification of reserves requires the
application of professional judgment combined with geological and engineering
knowledge to assess whether specific classification criteria have been
satisfied. Second Wave's expectations with respect to reserves associated with
the Pekisko horizontal wells as set forth in this news release are based on
internal estimates of proved plus probable reserves by Company management,
effective as at the date of this news release, which estimates have been
prepared in accordance with National Instrument 51-101 and the COGE Handbook.


36,932,340 Common Shares