cityview questions 20080317, page-28

Ok, green light. The questions and responses listed below.

Now, people of earth, I know this is hard, but try to let this satiate you until the EGM.

I would hate to see another whole round of conjecture and allegation spring from this!.

Answers are preceded with a "->"

Thanks to Mark Smyth for always being available to whinging shareholders.

>>

1. Why do official releases to the OTCBB differ to the ASX with respect to the refinery (no mention) and involvement in off-shore (no mention)?

-> The OTCBB should be receiving identical releases to what is given to the ASX.
There has been a coding problem in USA which I spent a lot of time on fixing.
It will take one more week for agencies like Yahoo Finance to record everything properly.


2. Why did Mark Smyth choose not to discuss the refinery and offshore field on the latest Wall street interview?

-> In my broadcast on Monday I discussed the refinery and offshore field.
In my broadcast on Thursday I did not want to be seen to be just repeating myself so I just talked about a few issues.
Another factor was that I was in USA and we have secured confidential rights to a US refinery and offshore permits : if I had mentioned either , the interviewer would have come swinging back at me with a whole lot of questions on these subjects.


3. What details can you confirm regarding the Angolan offshore fields? We are particularly interested in :
a. number of wells per block
b. water depths
c. target sizes
d. Handling of rig and equipment availability
e. gas flaring concerns

-> Your points on the Angolan offshore blocks are exactly the type of issues that Conrad's team are working on now


4. Angolan Onshore: As we are past Christmas, new blocks appear to have been delayed.
a. Can Cityview explain why they have been delayed?
b. Have the two previously confirmed blocks also been delayed?

-> I thought I have covered this point before
Onshore permits have been reserved by the President for Angolan companies : we are in joint venture with 4 Angolan companies who will be eligible : the President has an election in September so he is obviously going to keep the grant of these permits back until then.

There are 2 onshore blocks in the tender package which are also being delayed until the election : again we are protected by our joint ventures with the 4 eligible Angolan companies

Frankly we are so busy with the offshore work, I am absolutely delighted that we have got some breathing space before having to choose amongst the onshore permits.


5. Cocheioras de Binga: What is the likely timeframe to confirm previous non-JORC resource?

-> JORC drilling of Cachoeiras will start in the middle of this year : by the end of 2008 the confirmation will have been achieved.


6. Internet research revealed 3 companies claiming rights to Matanda PH-72:
Turnberry
Glencore/Afex (press reports)
Newport Mining (website, now password blocked): Directors R. Hyndes and D. Murray (also claimed interest in Chipindo gold licence.)
Can Cityview shed any light on claims by other companies?

-> We have a legal agreement on Matanda . Because Conrad feels that it is a marginal project , I am negotiating to swap our interests for a better project, in particular Bakassi.
When I asked the Cameroon Government about newspaper articles on Glencore, there was an explosion of anger as to why I was questioning their legal agreements with me so I shut up.

It seems that anyone can create a website and put anything he likes on it : Newport Mining if it exists has nothing to do with us.
Ian Egan has investigated this Newport saga and I will send you his findings separately. (Asteroider note: I will post these when received)


7. Is there any relationship between Cityview and Newport Mining (Directors R. Hyndes and D. Murray) or Newport Gold (Directors I. Egan, C. Page) ?

-> Newport Mining has nothing to do with us. There is no relationship. (Asteroider note: see prior)


8. Can Cityview explain which companies fall under Fortitude, the timeframe for ratification and the percentage that CVI will own after ratification?

-> There are 9 projects under Fortitude. CityView owns 40% of Fortitude and will be acquiring most of the other shares in time.
Because of the inadequacies of Angolan law, the underlying Angolan corporate are being reconstituted into a new structure and agreements which will be endorsed by the Council of Ministers.


9. Would CVI consider keeping an updated org chart on their web site showing intercompany connections, directors and stakes?

-> Equity in projects is more useful. Each of the mineral projects are owned by a wholly owned Fortitude subsidiary in conjunction with an Angolan partner.
A detailed review of Cityview is being undertaken by Tony Caplin and a full analyst report will be issued : this will cover the points you are raising.


10. What services were obtained for the shares issued to the US promoter?

-> we issued shares to Ceocast with whom I am working in NY. They wiill be opening up the US market for us and are doing a great job.


11. Does Cityview know the recipients of recent placements - Are they strategic business partners or investors? (I modified this question due to comments)

-> According to Global they are a combination of both.

12. Some shareholders are reluctant to authorize a further large share issue, due to successive placements into lower share prices.
a. Can Cityview confirm the shares will not be issued at less than 30c as per BRR?
b. Will CVI have a signed offshore permit prior to the EGM?

-> At the end of the day one can only follow the market. If institutions like Bear Stearns collapse the market is obviously affected.
By March 30 we have to decide whether we want the offshore permits or not.