Boundary Lake | Doe | Gordondale | Pouce Coupe | Balsam | Clayhurst | Valhalla | Sinclair

Seaview has established its asset base in the Peace River Arch through a combination of the acquisition of 1276921, the 1332915 Acquisition and the C3 Acquisition and a significant farm-in. Concurrent with Seaview’s initial public offering in October 2007, the Corporation acquired 1276921 thus establishing a production base of approximately 180 boe/d and access to land in the Gordondale and Valhalla areas. Through this transaction Seaview inherited a farm-in with Fairborne that resulted in the drilling of 12 earning wells to fulfill its contractual obligations. The earning has been completed providing Seaview with a working interest in 15,680 gross acres of land.  On April 1, 2008, Seaview completed the 1332915 Acquisition, adding approximately 550 boe/d in the key properties of Boundary Lake, Balsam, Doe, Clayhurst and Pouce Coupe. This acquisition provided Seaview with an interest in 4 gas plants and associated facilities. On July 24, 2008, Seaview completed the C3 Acquisition, providing approximately 525 boe/d of production associated with the principle properties of Pouce Coupe, Valhalla, Sinclair and Manir. In the Peace River Arch area, the collective properties are producing approximately 1580 boe/d at the year ended December 31, 2008. Seaview has an average working interest of approximately 42% in approximately 121,730 acres of gross land.

Seaview has initially focused its exploration and acquisition efforts in the Peace River Arch region. This area is characterized as having multi zone potential of natural gas and light oil drilling opportunities at shallow to moderate drilling depth (approximately 350 to 2,300 metres).  Infrastructure is readily available and drilling access is “year round” or near “year round”. Going forward, Seaview intends to focus its efforts in continuing to build its presence in this area through the internal development of prospects, acquisition of Crown acreage and attempting to secure acreage through farm in agreements and other industry participation agreements.  Largely opportunity driven, Seaview will also look at selective acquisitions of assets, including undeveloped land, in this area.