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

Seaview Energy Inc.

June 05, 2008 20:39 ET

Seaview Energy Inc. Grants Stock Options

CALGARY, ALBERTA--(Marketwire - June 5, 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") announces that it granted options on June 5, 2008 to acquire up to 702,500 Class A shares of Seaview, 530,000 of which were granted to directors and officers. Each grant of options is for a five year term, expiring on June 5, 2013. 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 $3.20 per Class A share. There are now options outstanding to purchase a total of 2,342,500 Class A shares of Seaview, or approximately 7.8% of Seaview's issued and outstanding Class A shares.

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