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. ("Seaview") (TSX VENTURE:CVU.A) (TSX VENTURE:CVU.B) together
with Charger Energy Corp. ("Charger"), Silverback Energy Ltd. ("Silverback") and
Sirius Energy Inc. ("Sirius"), are pleased to announce that the joint
information circular (the "Circular") in connection with the previously
announced plan of arrangement (the "Arrangement") has been mailed to
securityholders. The Circular will also be posted on the Seaview website at
www.seaviewenergy.com and filed on the System for Electronic Document Analysis
and Retrieval ("SEDAR") at www.sedar.com where it will be made available under
the profile of Seaview.


The Arrangement will effect the strategic business combination of the four
companies and is subject to the approval of 66 2/3 percent of the votes cast by
the respective securityholders of each of Seaview, Charger, Silverback and
Sirius. The record date for the determination of securityholders entitled to
receive notice of and to vote at the respective securityholder meetings is
February 8, 2012.


Seaview has given notice that a special meeting of the holders of class A shares
and class B shares of Seaview will be held in the Acadia "B" Room at the Calgary
Marriot Downtown Hotel, 110 - 9th Ave SE, Calgary, Alberta at 9:00 a.m. MST on
Monday, March 5, 2012. 


Charger has given notice that a special meeting of the securityholders of
Charger will be held in the Acadia "B" Room at the Calgary Marriot Downtown
Hotel, 110 - 9th Ave SE, Calgary, Alberta at 11:00 a.m. MST on Monday, March 5,
2012. 


Silverback has given notice that a special meeting of the holders of common
shares of Silverback will be held in the Acadia "A" Room at the Calgary Marriot
Downtown Hotel, 110 - 9th Ave SE, Calgary, Alberta at 10:00 a.m. MST on Monday,
March 5, 2012.


Sirius has given notice that a special meeting of the holders of common shares
of Sirius will be held in the Acadia "A" Room at the Calgary Marriot Downtown
Hotel, 110 - 9th Ave SE, Calgary, Alberta at 8:00 a.m. MST on Monday, March 5,
2012.


As a result of the anticipated timing of the closing of the Arrangement and the
current natural gas price environment, Charger management has revised the pro
forma 2012 capital program to approximately $60 million, subject to market
conditions. This capital program is expected to result in 2012 average
production of 4,000 to 4,300 boe/d (42 to 44 percent oil and liquids) and 2012
exit production of 4,500 to 4,800 boe/d (48 to 50 percent oil and liquids),
focused primarily on horizontal Viking oil opportunities. Please see the
Circular for more information on each of the four entities, the combined entity
and the Arrangement.


The previously announced $65 million operating facility for the combined entity
is now supported by a firm commitment from a Canadian chartered bank. The credit
facility will be used to fund the 2012 capital program, for general corporate
purposes and to repay the outstanding debt of Seaview, Silverback and Sirius
upon completion of the Arrangement.


About Seaview Energy Inc.

Seaview is a Calgary, Alberta-based crude oil and natural gas company, with
Class A Shares and Class B Shares trading on the TSX Venture Exchange under the
symbols "CVU.A" and "CVU.B". 


About Charger Energy Corp.

Charger is a Calgary, Alberta based private crude oil and natural gas company
incorporated in Alberta that commenced operations in October 2010. 


About Silverback Energy Ltd.

Silverback is a Calgary, Alberta based private crude oil and natural gas company
incorporated in Alberta that commenced operations in 2008. 


About Sirius Energy Inc.

Sirius is a Calgary, Alberta based private crude oil and natural gas company
incorporated in Alberta that commenced operations in 2006. 


Completion of the Arrangement is subject to a number of conditions, including
approval of the Court of Queen's Bench of Alberta, approval of the
securityholders of each of Seaview, Charger, Silverback and Sirius. The
Arrangement cannot close until the required securityholder approval is obtained.
There can be no assurance that the Arrangement will be completed as proposed or
at all.


Investors are cautioned that, except as disclosed in the Circular prepared in
connection with the Arrangement, any information released or received with
respect thereto may not be accurate or complete and should not be relied upon.
Trading in the securities of Seaview, Charger, Silverback and Sirius should be
considered speculative.


Reader Advisory and Note Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. These statements
relate to future events or future performance. All statements other than
statements of historical fact may be forward-looking statements or information.
Forward-looking statements and information are often, but not always, identified
by the use of words such as "appear", "seek", "anticipate", "plan", "continue",
"estimate", "approximate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe",
"would" and similar expressions. More particularly and without limitation, this
news release contains forward-looking statements and information concerning the
expected results of the Arrangement, including the timing of completion thereof;
the resulting entity's petroleum and natural gas production; prospects; asset
base; value and debt levels; and capital programs. The forward-looking
statements and information are based on certain key expectations and assumptions
made by the proposed management of the resulting entity, including expectations
and assumptions concerning prevailing commodity prices and exchange rates,
applicable royalty rates and tax laws; future well production rates and reserve
volumes; the timing of receipt of regulatory and securityholder approvals; the
performance of existing wells; the success obtained in drilling new wells; the
sufficiency of budgeted capital expenditures in carrying out planned activities;
and the availability and cost of labour and services. Although the proposed
management of the resulting entity believes that the expectations and
assumptions on which such forward looking statements and information are based
are reasonable, undue reliance should not be placed on the forward-looking
statements and information since no assurance can be given that they will prove
to be correct. Forward-looking information is provided for the purpose of
providing information about the current expectations and plans, of the proposed
management of the resulting entity, relating to the future. Readers are
cautioned that reliance on such information may not be appropriate for other
purposes, such as making investment decisions. 


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to, the risks
associated with the oil and gas industry in general such as 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
reserves, production, costs and expenses; health, safety and environmental
risks; commodity price and exchange rate fluctuations, marketing and
transportation, loss of markets, environmental risks, competition, incorrect
assessment of the value of acquisitions, failure to realize the anticipated
benefits of acquisitions, ability to access sufficient capital from internal and
external sources, failure to obtain required regulatory and other approvals and
changes in legislation, including but not limited to tax laws, royalties and
environmental regulations. There are risks also inherent in the nature of the
Arrangement, including failure to realize anticipated synergies or cost savings;
risks regarding the integration of the four entities; incorrect assessments of
the values of each entity; failure to obtain the required securityholder, court,
regulatory and other third party approvals and the failure to complete the
Arrangement in a timely manner or at all. Accordingly, readers should not place
undue reliance on the forward-looking statements, timelines and information
contained in this news release. Readers are cautioned that the foregoing list of
factors is not exhaustive. The forward-looking statements and information
contained in this news release are made as of the date hereof and no undertaking
is given 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.


This press release shall not constitute an offer to sell, nor the solicitation
of an offer to buy, any securities in the United States, nor shall there be any
sale of securities mentioned in this press release in any state in the United
States in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.

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