NEWS3:05 PM Mar 4, 2008 CityView offered Angolan oil...

NEWS

3:05 PM Mar 4, 2008



CityView offered Angolan oil interests


CityView Corporation Ltd will acquire interests in several oil permits in Angola.

Participation in four offshore blocks has been offered to CityView under confidential terms.

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

The current licensing round comprises seven offshore blocks, one South Cabinda onshore block and two Kwanza Basin onshore blocks. CityView will be participating in this round through Angolan groups, who are pre-qualified for the tenders. Timing is understood to be now deferred until year-end after the parliamentary elections.

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.

STOCK DASHBOARD: March 04, 2008

Cityview Corporation

Price at 10:20 am: 22.0c

Price change from previous trading day: -10.2%

Relative Strength (6 months percentile rank): 92.2

Market capitalisation: $77.1 million

Turnover volume: 17,541,094.0

Volume Index (1 is average): 4.99

Turnover value: $3.8 million

Turnover period: 3 months

Value of $1,000 invested 1 year ago: $2,200

Source: www.BuySellTips.com