CVU.B Seaview Energy Inc. Class B

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UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS


Seaview Energy Inc. ("Seaview" or the "Company") (TSX VENTURE:CVU.A) (TSX
VENTURE:CVU.B) is pleased to provide an operations update with respect to recent
operations targeting the Company's emerging light oil Cardium resource play in
the Wapiti area and new production additions in Peace River Arch.


During the third quarter the Company focused on completing and evaluating 2
Cardium horizontal oil wells (1.5 net) drilled in the second quarter. In
addition, Seaview recently tied-in 1 natural gas well (1.0 net) adding over 250
boe/d net production for the month of October.


Results to date in the Wapiti area continue to support the Company's strategic
focus on accumulating a large, contiguous position targeting light oil in the
Wapiti Cardium fairway. Seaview continues to show positive preliminary results
highlighted by the following achievements:




--  The successful drilling and completion of three multi stage fracture
    stimulated horizontal wells each testing light oil (41 degree API) from
    the Cardium formation at rates of more than 200 boe/d; 
    
--  Increased initial well productivity through continued enhancement of
    completion techniques; 
    
--  Achieved operational efficiencies on the 1-9-66-7W6 discovery well
    during its initial 3 month production period; 
    
--  Increased its land position to 42.5 sections (22.8 net) of prospective
    Cardium light oil rights; and 
    
--  Initiated a 6 well (3.5 net) drilling program to further define the
    resource potential, earn additional land and delineate the initial
    discovery. 
    



Wapiti Results and Activity Plans

Seaview has successfully drilled 3 Cardium horizontal wells (2.2 net) to date,
all completed with multi-stage fracturing technology. In addition, the Company
has recently commenced its winter drilling program which will include up to 6
Cardium horizontal wells (3.5 net) to be drilled over the next two quarters,
with up to 4 wells (2.5 net) to be drilled prior to the end of 2010.


Seaview's second horizontal well at 100/04-17-066-07-W6 (78.3% WI) ("the 4-17
well") and third horizontal well 100/04-22-066-08W6 (76% WI) ("the 4-22 well")
have been successfully completed using multi-stage frac technology. Based on
experience on the Company's first completion at 100/01-09-066-08W6 ("the 1-9
well"), the inter-frac spacing was reduced to 75 meters from 100 meters and the
sand tonnage per stage was increased from 15 to 20 tonnes per interval.


Following an initial clean-up period, the 4-17 well tested at an average flow
rate of 220 bbl/d of crude plus an estimated 100 mcf/d of solution gas (235
boe/d gross) over the last 7 days of the test period.


Following an initial clean-up period, the 4-22 well tested at an average flow
rate of 192 bbl/d of crude plus an estimated 140 mcf/d of solution gas (215
boe/d gross) over the last 7 days of the test period.


Construction of surface facilities and pipeline tie-in for both wells is
currently underway and the wells are expected to be brought on production by
early December. Seaview is anticipating initial production to be in the range of
125 - 150 bbl/d of crude oil plus solution gas per well (170 boe/d).


The 4-17 and 4-22 wells qualify for the Alberta Government's Horizontal Oil New
Well Royalty Rate of 5% for 24 months, to a maximum of 60,000 barrels of
production. The 1-9 well was drilled prior to the announcement of the Horizontal
Oil New Well Royalty Rate program, but will still qualify for the 5% royalty
rate for 12 months to a maximum of 50,000 barrels of production.


Seaview's first horizontal well (68.0% working interest), the 1-9 well (drilled
during the first quarter of 2010) has been on production since early August. The
1-9 well has averaged 133 boe/d (68% oil and liquids) on a producing day average
basis over the first 3 months of production.


Wapiti Exploration Program

The successful Cardium oil tests at these three locations validate the presence
of a significant light oil resource play in the Wapiti area. Seaview has
successfully extended this play area 8 kilometres to the southwest and 2
kilometres to the southeast from the existing conventional Cardium A pool.


Management is encouraged by the initial oil rates and remains confident that the
Wapiti Cardium light oil resource play offers a sizeable and repeatable
opportunity. Management also expects the economics of the play and initial
production rates will continue to improve through the optimization of completion
technology during this initial phase of exploration. Industry activity in Wapiti
continues to rapidly accelerate with a total of nine locations licensed in 2010
with 6 being drilled to date with 4 wells on production.


Seaview's opportunity base within the prospective Wapiti Cardium light oil
resource fairway now has the following characteristics:




--  Exposure to earn up to 42.5 sections (22.8 net) of prospective Cardium
    light oil rights; 
--  An extensive drilling inventory with over 170 horizontal development
    locations (91 net); and 
--  Excellent operational focus featuring a large contiguous land position
    directly offsetting the Company's recent successful Cardium exploration
    activities. 



Seaview believes the Wapiti Cardium light oil resource play contains the
essential elements of a profitable resource play including:




--  Large areal extent, supported by numerous logs and tests validating the
    reservoir continuity; 
--  Contiguous resource potential including an average of 10 m of vertical
    pay exceeding 6% porosity providing for significant accumulation of
    light oil, and a high degree of repeatability; 
--  Ability to improve drilling and completion techniques leading to lower
    capital costs and higher productivity over time; and 
--  Scalable project targeting high quality light oil (41 degree API). 



Continued success in developing the Wapiti Cardium light oil play could add
significant incremental upside to Seaview's current asset base. The Company will
therefore continue to focus on proving the commerciality of this play throughout
the balance of 2010 and early 2011.


Peace River Arch

Due to low commodity prices for natural gas, the Company has elected to defer
gas drilling projects planned for Q3 and Q4-2010 with capital re-allocated to
oil focused drilling in Wapiti and optimization projects in the Peace River
Arch. Seaview recently completed the tie-in of 1 gas well (1.0 net), in the
Boundary Lake area, which added over 250 boe/d net sales average for October
2010.


Boundary Lake is Seaview's largest producing region which features high
deliverability wells with low operating costs. For September 2010, Seaview
realized field level netbacks of over $23.00 per boe in the Boundary Lake area.


Activity in the Peace River Arch for the balance of 2010 include equipping and
tie-in of 1 additional gas well (1.0 net) and installation of a compressor to
further optimize production in Boundary Lake. The Company expects to add over
150 boe/d before year-end from these projects.


RELEASE OF THIRD QUARTER FINANCIALS

Seaview plans to file its financial results for the period ended September 30,
2010 including the unaudited interim consolidated financial statements and
related management's discussion and analysis ("MD&A") on November 17th, 2010.
These filings will be available in their entirety at www.seaviewenergy.com and
www.sedar.com or by contacting the Company directly.


Barrels of oil equivalent (boe) may be misleading, particularly if used in
isolation. A boe conversion ratio of six thousand cubic feet (mcf) of natural
gas to one barrel (bbl) of oil is based on an energy conversion method primarily
applicable at the burner tip and is not intended to represent a value
equivalency at the wellhead. All boe conversions in this press release are
derived by converting natural gas to oil in the ratio of six thousand cubic feet
of natural gas to one barrel of oil. Certain financial amounts are presented on
a per boe basis, such measurements may not be consistent with those used by
other companies.


Estimated values contained in this press release do not represent fair market value.

This press release may contain forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include estimates,
plans, anticipations, expectations, opinions, forecasts, projections, guidance
or other similar statements that are not statements of fact. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. These statements are subject to certain risks and
uncertainties and may be based on assumptions that could cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. These risks include, but are not limited to: the risks associated
with the oil and gas industry (e.g. operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses and health, safety and environmental risks),
commodity price and exchange rate fluctuation and uncertainties resulting from
potential delays or changes in plans with respect to exploration or development
projects or capital expenditures. The Company's forward-looking statements are
expressly qualified in their entirety by this cautionary statement. The
forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligations to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

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