CVU.B Seaview Energy Inc. Class B

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Seaview Energy Inc. (TSX VENTURE:CVU.A) (TSX VENTURE:CVU.B) ("Seaview" or the
"Company") is pleased to announce that it has obtained a final receipt in
connection with the filing of a final short form prospectus in the Provinces of
Alberta, British Columbia, Ontario and Nova Scotia (the "Offering
Jurisdictions") with respect to the qualification of distribution of 11,246,500
Class A shares (the "Qualified Shares") of the Company issuable pursuant to the
exercise of the previously issued subscription receipts ("Subscription
Receipts").


The Corporation had agreed to use its commercial best efforts to file a (final)
short form prospectus qualifying the issuance and distribution of the Qualified
Shares issuable upon exercise of the Subscription Receipts in the Offering
Jurisdictions and obtain a final passport decision document evidencing a receipt
on behalf of each of the securities regulatory authorities in each of the
Offering Jurisdictions no later than July 20, 2009.


The Subscription Receipts were issued on June 16, 2009 (the "Closing Date") at a
price of $0.95 per Subscription Receipt for gross proceeds of approximately
$15.7 million and offered to purchasers in the Offering Jurisdictions on a
private placement basis pursuant to prospectus exemptions under applicable
securities legislation (the "Offering") through syndicate of underwriters led by
National Bank Financial Inc. and including FirstEnergy Capital Corp., CIBC World
Markets Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Dundee
Securities Corporation and Wellington West Capital Markets Inc. (collectively,
the "Underwriters").


The aggregate gross proceeds from the Offering were deposited in escrow and held
by Olympia Trust Company, as escrow agent (the "Escrow Agent"), and invested in
short-term obligations of, or guaranteed by, the Government of Canada (and other
approved investments) pending completion of the Acquisition (as defined herein)
pursuant to the terms of a subscription receipt agreement (the "Subscription
Receipt Agreement") dated June 16, 2009 among the Corporation, National Bank
Financial Inc., on behalf of the Underwriters, and the Escrow Agent. All of the
net proceeds of the Offering were used by the Corporation to fund a portion of
the purchase price in respect of the acquisition of certain high quality, long
life, assets located in the Peace River Arch from a senior public oil and gas
company for total consideration of $26.5 million, which was completed on June
30, 2009.


Each Subscription Receipt entitles the holder thereof to receive one Qualified
Share on the exercise or deemed exercise of the Subscription Receipt. The
Subscription Receipts will be deemed to be exercised into Qualified Shares on
the earlier of: (i) the issuance of a final passport decision document in
respect of a (final) short form prospectus to be filed by the Corporation
qualifying the distribution of the Qualified Shares underlying the Subscription
Receipts, which evidences a receipt on behalf of each of the securities
regulatory authorities in the Offering Jurisdictions; and (ii) four months and a
day following the Closing Date.


The certificate representing the Qualified Shares will be issued in book-entry
only form and registered to CDS Clearing and Depositary Services Inc. ("CDS") or
its nominee. No certificates representing the Qualified Shares will be issued to
subscribers, and registration will be made through the depositary services of
CDS. Holders of Qualified Shares will receive only a customer confirmation from
the Underwriter or other registered dealer who is a CDS participant and from or
through whom a beneficial interest in the Qualified Shares is acquired.


Seaview is a Calgary, Alberta based company engaged in the exploration,
development and production of conventional crude oil and natural gas reserves in
Canada. Seaview's strategy is to build shareholder value through a balance of
exploration and development drilling complemented by a focused acquisition
program.

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