school project...

It's like a comprehension class in here...

Only most are getting F's

Angolan Oil Permits

CityView Corporation Limited (“CityView”) advises that it has concluded agreements for the acquisition of interests in oil permits in Angola in the following categories.

"...concluded agreements for the acquisition of interests..."

Pretty obvious I would think.

A. Existing Offshore Oil Permits

Participation in four offshore blocks have been offered to CityView under terms which are prescribed confidential.

This offer is larger than what CityView has been anticipating. Each of the blocks is currently being checked by CityView’s technical team before acceptance commitment.

"Participation in four offshore blocks..."

Again quite obvious.

"This offer is larger than what CityView has been anticipating"

I guess this offer must be larger than CVI were hoping for? lol

"Each of the blocks is currently being checked by CityView’s technical team before acceptance commitment"

Assuming a monetary commitment is required, either sign-up fee or indeed expenditure commitment, it is only appropriate that CVI study the blocks in detail. Further on this...I suspect they have already got a fair idea...but are now simply going through with a fine tooth comb. A follow up here could come any day.

lol...trading halt

B. Current Licensing Round

The licensing round comprises seven offshore blocks, one South Cabinda onshore block and two Kwanza Basin onshore blocks.

CityView will be participating in this licensing round through powerful Angolan groups, who are pre-qualified for the tenders. Timing is understood to be now deferred until year-end after the parliamentary elections.

This is new, we will be teamed with those already prequalified. This development is above and beyond all other projects...it will not transpire however until after the elections.


C. Onshore Kwanza Basin Blocks

The remaining onshore Kwanza Basin blocks are being reserved for Angolan companies. CityView will gain access to the blocks through the agreements it has negotiated with its Angolan co-venturers.

CityView will also be actively involved in determining which blocks to focus on for acquisition.

"Kwanza Basin blocks are being reserved for Angolan companies"...these will not be part of the current licensing round which has been deferred till after the elections.

"CityView will gain access to the blocks through the agreements it has negotiated with its Angolan co-venturers." ... as before, we get access to the Kwanza onshore via partnerships with co-venturers Falcon and Nexoil.

The fact we are also involved in determining which blocks gives a clue to the need for our involvement here...and value of the expert advisory board.

Mark Smyth
Chief Executive Officer

The guy trying to tell you something!

Cheers1