Seaview Energy Inc.

Seaview Energy Inc.

October 10, 2007 19:35 ET

Seaview Energy Inc. Files Final Prospectus and Announces Positive Results of 1276921 Alberta Ltd. Shareholders' Meeting

CALGARY, ALBERTA--(Marketwire - Oct. 10, 2007) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

Seaview Energy Inc. ("Seaview" or the "Company") is pleased to announce that it has filed a final prospectus dated October 9, 2007 in connection with an initial public offering by the Company of a minimum of 10,000 Units and a maximum of 12,000 Units at a price of $1,000 per Unit for minimum aggregate gross proceeds of $10,000,000 and maximum aggregate gross proceeds of $12,000,000. Each Unit is comprised of 400 "flow-through" Class A Shares at $0.25 per share and 90 "flow-through" Class B Shares at $10.00 per share, which amounts, in the aggregate, will constitute flow-through funds.

The offering is being led by Orion Securities Inc. on behalf of a syndicate of investment dealers including Blackmont Capital Inc., FirstEnergy Capital Corp. and Canaccord Capital Corporation.

The initial public offering will close on or about October 17, 2007, subject to satisfaction of certain closing conditions. Additional information in respect of Seaview and the offering is contained in the final prospectus which is accessible on www.sedar.com. The TSX Venture Exchange has conditionally approved the listing of the Class A Shares and the Class B Shares, subject to Seaview fulfilling the requirements of such exchange, including the distribution of the Class A Shares and the Class B Shares to a minimum number of public shareholders. Seaview anticipates that the Class A Shares and Class B Shares will commence trading on or about October 22, 2007 under the trading symbols CVU.A and CVU.B, respectively.

Seaview is also pleased to announce that the proposed amalgamation between Seaview Exploration Ltd., a wholly-owned subsidiary of Seaview, and 1276921 Alberta Ltd. was unanimously approved by the shareholders of 1276921 Alberta Ltd. at a shareholders' meeting held on Friday October 5, 2007. The acquisition is expected to close on or about October 17, 2007, contemporaneous with the closing of the initial public offering.

Seaview is a Calgary, Alberta based company engaged in the exploration, development and production of conventional crude oil and natural gas reserves in Canada. The Company's strategy is to build shareholder value through a balance of exploration and development drilling complimented by a focused acquisition program. Seaview's initial core focus area will be the Peace River area of northwest Alberta.

Certain information regarding the Company contained herein may constitute 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. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction.

The Class A shares and Class B shares offered pursuant to the initial public offering will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Seaview Energy Inc.
    Michael Wuetherick
    President & CEO
    (403) 770-2961
    or
    Seaview Energy Inc.
    Stephanie Bunch
    VP - Finance & CFO
    (403) 770-9503
    or
    Seaview Energy Inc.
    Teresa Beets
    Investor Relations
    (403) 668-4492
    Email: info@seaviewenergy.com
    Website: www.seaviewenergy.com