Seaway Announces Release of Interim Financial Statements

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES


Seaway Energy Services Inc. ("Seaway" or the "Company") (TSX VENTURE:SEW)
announces that the Company has filed its interim financial statements and
accompanying management's discussion and analysis for the three month period
ended June 30, 2007. 


Copies of these documents may be obtained electronically from the SEDAR system
at www.sedar.com or on the Company's website www.seawayenergy.com.




Overview

Statement of operations ($ rounded)

                                     Three months ended    Six months ended
                                          June 30, 2007       June 30, 2007

Gross revenue                                 1,099,600           2,575,600
Gross profit                                    389,500             836,700
Administrative expenses                         294,300             516,400
Salaries and benefits (included in
 administrative expenses)                       186,200             354,000
Net income after taxes                           41,200             174,700
Net income per share                             $0.002              $0.007

Balance sheet ($ rounded)
                                          June 30, 2007   December 31, 2006

Working capital                                 433,100             229,500
Total assets                                  2,490,400           5,187,200



Gross revenue for the second quarter of 2007 compared to the first quarter of
2007 decreased by 25% from $1,447,000 to $1,099,600. While the quarter ended
June 30 is historically the Company's weakest due to the impact of road bans and
adverse spring weather on the movement of heavy drilling equipment, the
prolonged weakness in industry activity has negatively impacted revenue as well.
Seaway derives the bulk of its revenues from drilling location construction and
clean-up and wellsite reclamations. Weak natural gas prices coupled with lower
production margins have resulted in fewer wells being drilled and reduced
reclamation activity. Seaway is experiencing an improvement in activity levels
in the third quarter of 2007 but it will not be of sufficient magnitude for
gross revenue to approach 2006 performance. Seaway is forecasting gross revenue
of $6.0 MM for the twelve months ended September 30, 2007, a 36% drop in revenue
from $9.4 MM for the comparable period in 2006.


Seaway's wholly-owned subsidiary, Seaway Project Management (1998) Ltd. has
operated successfully through similar industry downturns in the past. The
Company is drawing on that expertise to operate in a prudent manner and position
itself for when industry activity levels substantially improve. During the
current industry downturn, Seaway continues to pursue new clients to broaden its
client and revenue generation base. To provide the Company with additional
financial flexibility, the Company has secured a $600,000 operating demand line
of credit from a Canadian chartered bank. Drawings bear interest at the Bank's
prime rate of interest plus 0.5%. Agreement has also been reached with a Seaway
director and former shareholder of Seaway Project Management (1998) Ltd. on
modified payment terms for amounts still owing, associated with the qualifying
transaction of the Company's predecessor, Dolce Financial Corp. closed in
October 2006. The modification extends final payment on amounts owed to February
1, 2009 from October 4, 2008.


Seaway is a Calgary-based corporation providing environmental consulting
services to the oil and gas industry. These services include managing the
construction of oil and gas leases and access roads, cleanup of leases and roads
following drilling activity and reclamation of leases following drilling and
production. 


Seaway is listed on the TSX Venture Exchange under the symbol "SEW".

Certain statements contained in this document are "forward-looking statements".
The projections, estimates and beliefs contained in such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause actual results or events to differ materially from those
anticipated in any forward-looking statements. Seaway believes the expectations
reflected in those forward-looking statements are reasonable; however Seaway
cannot provide any assurance that these expectations will prove to be correct.