UPDATE 1-Second Wave Petroleum loss widens on higher costs

March 30 Fri Mar 30, 2012 8:44am EDT

March 30 (Reuters) - Second Wave Petroleum Inc posted a wider fourth-quarter loss, hurt in part by higher lease operating costs.

For the October-December quarter, the company lost C$8.7 million, or 11 Canadian cents a share, compared with a loss of C$6.9 million, or 8 Canadian cents a share, a year ago.

Petroleum and natural gas sales rose 131 percent to C$15.4 million.

Lease operating costs nearly doubled to C$4.6 million during the quarter, the company said in a statement

Shares of the company closed at C$3.28 on Thursday on the Toronto Stock Exchange.

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