Seaview Energy Inc. Announces Execution of Definitive Agreement in Respect of Previously Announced Peace River Arch Strategic Ac

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Seaview Energy Inc. ("Seaview" or the "Company") (TSX VENTURE:CVU.A)(TSX
VENTURE:CVU.B) is pleased to announce that it has signed a definitive agreement
(the "Agreement") with an Alberta based private oil and gas company
("Privateco"), in respect of the strategic acquisition previously announced on
June 19, 2008 (the "Acquisition") whereby Seaview will acquire all of the
outstanding common shares of Privateco.


In connection with the execution of the Agreement, holders of 89.9% of the
issued and outstanding common shares of Privateco have executed lock-up
agreements and agreed to tender their Privateco shares to the Seaview offer.
Privateco has also agreed that it will not solicit or initiate any discussions
concerning the sale of assets or any other business combination and has granted
Seaview a 72 hour right to match any superior proposals. The Agreement contains
a non-completion fee in the amount of $1.0 million which is payable by Privateco
to Seaview in certain circumstances if the Acquisition is not completed.


The Acquisition is expected to close on or about July 24, 2008 and is subject to
customary regulatory approvals and other typical conditions for this type of
transaction.


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 complemented by a focused acquisition
program.