Seaview Energy Inc.
TSX VENTURE : CVU.A
TSX VENTURE : CVU.B

Seaview Energy Inc.

October 26, 2009 08:45 ET

Seaview Energy Inc. Issues Stock Options and Cancels Voluntarily Surrendered Stock Options

CALGARY, ALBERTA--(Marketwire - Oct. 26, 2009) -

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") announces that it: (i) cancelled options to acquire 1,085,000 Class A shares voluntarily surrendered by certain employees and consultants of Seaview; and (ii) granted options on October 23, 2009 to acquire up to 1,873,750 Class A shares of Seaview, 1,130,000 of which were granted to directors and officers. Each grant of options is for a five year term, expiring on October 23, 2014. The options vest over three years (1/3 on each of the first, second and third anniversary of the grant date). The options are exercisable at a price of $1.19 per Class A share. There are now options outstanding to purchase a total of 5,488,750 Class A shares of Seaview, or approximately 8.4% of Seaview's issued and outstanding Class A shares.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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