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

Seaview Energy Inc.

December 18, 2008 13:50 ET

Seaview Energy Inc. Announces Closing of Bought Deal Financing

CALGARY, ALBERTA--(Marketwire - Dec. 18, 2008) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES. 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") is pleased to announce that it has successfully closed a previously announced bought deal financing led by FirstEnergy Capital Corp. and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Dundee Securities Corporation and Blackmont Capital Inc. A total of 3,000,000 Class A Shares were issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $1.60 per Flow-Through Share for aggregate gross proceeds of $4,800,000.

Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities that will qualify as Canadian Exploration Expense, which will be renounced to the subscribers for the 2008 taxation year.

The Flow-Through Shares will be subject to a four month hold period from the date of closing of the private placement.

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 complimented by a focused acquisition program. Seaview's initial core focus area is in the Peace River area of northwest Alberta.

The securities being offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, for the account or benefit of, U.S. Persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to purchase securities in the United States.

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

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