CVI 0.00% 0.3¢ cvi energy corporation limited

angolan oil permits

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    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
    ASX: CVI
    NASD OTCBB: CTVWF: FSE: C4Z
    ASX / MEDIA RELEASE March 4, 2008
    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.
    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.
    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.
    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.
    Mark Smyth
    Chief Executive Officer
 
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