CVU.B Seaview Energy Inc. Class B

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 today that, it has received approval of the TSX Venture
Exchange to proceed with a normal course issuer bid ("NCIB") of its issued and
outstanding Class A shares ("Class A Shares") and/or Class B shares (the "Class
B Shares" and, collectively with the Class A Shares, the "Shares"). Under the
terms of the NCIB, Seaview may purchase for cancellation up to 2,500,000 Class A
Shares and up to 52,000 Class B Shares. As at February 10, 2009 Seaview had
50,005,182 Class A Shares and 1,053,540 Class B Shares issued and outstanding.
The NCIB will commence on February 16, 2009 and will end on February 15, 2010 or
such time as Seaview has acquired the maximum number of Shares that it is
permitted to purchase under the NCIB. Purchases pursuant to the NCIB will be
made from time to time by Macquarie Capital Markets Canada Ltd. on behalf of the
Company through the facilities of the TSX Venture Exchange at market prices.
Shares purchased will be paid for with cash from Seaview's working capital. All
shares purchased pursuant to the NCIB will be cancelled and returned to
Treasury.


Due to the volatility in the financial markets and commodity pricing, Seaview
believes that the Shares may from time to time be undervalued in the market and
will constitute a good investment for Seaview.


Seaview has not previously purchased any of its outstanding Shares under a
normal course issuer bid. Purchases in any given month are restricted to a
maximum of 2% of the total number of outstanding Shares of each of the Class A
Shares and the Class B Shares. There is no minimum number of Shares that must be
purchased by the Company under the NCIB.


Summary information concerning the NCIB is expected to be included in the
Company's audited consolidated financial statements for the year ended December
31, 2008.


This press release may contain forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include estimates,
plans, anticipations, expectations, opinions, forecasts, projections, guidance
or other similar statements that are not statements of fact. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will
prove to be correct. These statements are subject to certain risks and
uncertainties and may be based on assumptions that could cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. These risks include, but are not limited to: the risks associated
with the oil and gas industry (e.g. operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses and health, safety and environmental risks),
commodity price and exchange rate fluctuation and uncertainties resulting from
potential delays or changes in plans with respect to exploration or development
projects or capital expenditures. The Company's forward-looking statements are
expressly qualified in their entirety by this cautionary statement. The
forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligations to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

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