Petroflow Energy Ltd. Grants Stock Options

CALGARY, Alberta–(EMWNews)–Petroflow Energy Ltd. (“Petroflow”)

(TSX VENTURE:PEF)(AMEX:PED) announces it has granted an aggregate

of 292,000 options to its officers and employees pursuant to Petroflow’s

existing Stock Option Plan effective July 10, 2008. Of the 292,000

options granted, an aggregate of 69,800 options were granted to

employees (other than officers) of Petroflow and an aggregate of 222,200

options were granted to the officers of Petroflow. Each option entitles

the holder to acquire one common share of Petroflow at an exercise price

of $7.08 expiring 5 years from the date of the grant. The options vest

as to 1/3 on the date of the grant, with an additional 1/3 vesting on

each of the first and second anniversary of the date of the grant.

Concurrently, Petroflow announces that it has agreed to award each of

the directors 20,000 shares of the Company effective July 10, 2008 as

compensation for past and ongoing services for a total of 100,000 shares

also at a price of $7.08 per share. These shares will be issued in two

tranches of 50,000 shares each over the next ten days.

About Petroflow Energy Ltd.:

Petroflow is an independent oil and natural gas company engaged in

exploration, development and production of hydrocarbon reserves

primarily in the mid-continent region. Additional information about

Petroflow can be found at the Company’s website: http://www.petroflowenergy.com.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this news release.

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