Eaglewood Energy Inc.: Management Discussion and Analysis Restatement

CALGARY, ALBERTA--(Marketwire - July 24, 2008) - Further to its press release dated July 18, 2008 Eaglewood Energy Inc. ("Eaglewood") (TSX VENTURE:EWD) has filed on SEDAR the restated Management Discussion and Analysis for the period ended March 31, 2008 (the "MD&A") which was originally filed on May 14, 2008.

The restatement of the MD&A was done in accordance with a continuous disclosure review conducted by the Alberta Securities Commission and does not reflect a material change in the financial position of Eaglewood but is rather intended to provide additional information to the market. The changes to the MD&A are as follows:

- More fulsome description regarding forward-looking information.

- Provision of additional information regarding work commitments and proposed expenditures related to the petroleum prospecting licenses acquired by Eaglewood on October 1, 2007.

- Additional information regarding the nature of previously disclosed related party transactions.

- Provision of information regarding the change of business which occurred on October 1, 2007 (see Eaglewood's filing statement dated August 15, 2008) and its effect on variations between quarters.

The MD&A is available at www.sedar.com.

No regulatory authority has approved or disapproved the content of this release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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