Summary of ann. Pay attention to the third and last paragraphs.
3 October 2007 CVI Acquires Right To Control Cameroon Oilfield. CVI’s holding in the North Matanda Oilfield will double from 20% to 40%.
CVI will gain operational control of North Matanda Oil Project PH72 through ownership of 57% in Turnberry Resources.
This will enable CVI to enter other larger oilfields in Cameroon presently under negotiation.
CVI announces it has the right to purchase 100% of Petro Energy Africa, which is the beneficial owner of Turnberry Resources.
Petro Energy Africa is also in advanced negotiations with the Cameroon Government for access to other certain key oilfields in the region. The parties aim to bring these negotiations to a successful conclusion within the next month.
Yes, other oilfields ... within the month.
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CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
