ASX: CVI NASD OTCBB: CTVWF DAC C4Z ASX / MEDIA RELEASE July 30, 2007 APPOINTMENT OF PETROLEUM EXPERT CityView Corporation Limited (“CityView”) is founding an Advisory Board of professional experts to assist the Company in achieving its strategic objectives. CityView is pleased to announce that Mr Conrad Maher has agreed to become the Chairman of the Advisory Board. Mr Maher, who is based in California, has extensive experience in Production Geology, Exploration Geology and Petroleum Engineering. He was Exploration Manager of Deminex Egypt Branch, responsible for a large exploration and appraisal drilling programme with up to seven active drilling rigs. He then became Chief Production Geologist Occidental Petroleum (Caledonia) Inc. and supervised the production geology team which developed the Scapa field and played a key role in a 400+ million barrel increase in the reserves for the Piper and Claymore fields. Mr Maher’s initial task for CityView is to analyse the Gulf Oil USA data from the North Matanda oilfield PH72 Cameroon in which CityView has acquired the right to take up a net 20% interest. Gulf Oil discovered condensate in two wells in the North Matanda permit and have quoted the following reserves: • Proven 60 million barrels • Probable 120 million barrels • Possible 300 million barrels. Condensate prices from this region historically trade at a premium of US$3 to the price of Brent crude oil and currently exceed US$75 per barrel. Level 9, 28 The Esplanade, Perth, Western Australia, 6000 PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831 Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799 Email: [email protected] Web: www.cityviewcorp.com ABN: 59 009 235 634 ACN: 009 235 634 Mr Maher has been commissioned to bring the two discovery wells into production and organize the infrastructure for the delivery of the condensate and the gas. Mr Maher’s additional task for CityView is to select the most prospective permits in the onshore Kwanza Basin currently being offered to CityView. Extensive discussions were held earlier this month in Angola, with CityView’s co-venturer Nexoil Corporation, in order to determine which onshore concessions would be suitable. CityView’s Chief Executive Officer, Mr Mark Smyth said: “Mr Maher’s extensive industry experience and input into the selection process will be invaluable in ensuring that CityView is given the best opportunity to position itself as a major player in one of the world’s most sought after and prospective oil provinces”. Yours faithfully, CityView Corporation Limited Mark Smyth Chief Executive Officer. Enquiries: Mark Smyth Chief Executive Officer Contact: Telephone (61-8) 9226 4788 Facsimile: (61-8) 9226 4799 Email: [email protected] Website: www.cityviewcorp.com Level 9, 28 The Esplanade, Perth, Western Australia, 6000 PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831 Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799 Email: [email protected] Web: www.cityviewcorp.com ABN: 59 009 235 634 ACN: 009 235 634
CVI Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
