"Under the proposal, CityView will sell its 8.3% equity in Quest for US$1,245,000. In turn CityView will pay US$405,000 to Mr Yousef Al Ansari for his 45% holding of European Oil Limited, a private UK company whose sole asset is a 6% equity in Quest."
Also...
January 21, 2008
QUEST ENERGY MIDDLE EAST LIMITED
CityView Corporation Limited (“CityView”) advises that the restructuring of its holding in Quest Energy Middle East (“Quest”) Limited has been successfully completed.
Under the new arrangements, CityView will own 1,205,000 shares of the 1,700,000 issued shares (70.9%) of European Oil Limited (“EOL”) which in turn owns 6% of Quest. N. Hoexter and P. de Chazal have been appointed to the Board of EOL.
Quest is connected to the powerful financial community of Dubai and Abu Dhabi and is of great assistance to CityView.
Regards Chalea
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
