Message #1 From:
NewsBot Date: November 28, 2006 06:15:00 AM
CTVWF News CityView Corporation Announces Two Onshore Oil Concessions: Angola
ANGOLA--(BUSINESS WIRE)--CityView Corporation Ltd. (OTCBB:CTVWF) (ASX:CVI), is pleased to
announce that a joint venture application has been agreed upon between
Nexoil Corporation SARL (“Nexoil”)
and Petro African Energy plc’s subsidiary,
Energy Africa Ltd. This joint venture secures two onshore oilfields in
the middle of the Kwanza Basin on behalf of Energy Africa Ltd and
CityView Corp.
The oilfields lie respectively adjacent to the north and south of the
Kwanza River.
The Kwanza Basin shares the same oil rich structural history and
sedimentation patterns, including salt tectonism and turbidite fan
development. These structures are also prolific in other successful West
African Basin oil projects, particularly the productive Lower Congo
basin to the north.
Potential for a major oil discovery lays in the active rift sequence
sediments underlying the Aptian salt. A recent billion barrel discovery
has been made in an equivalent active rift sediments onshore at MBoundi
in the neighbouring South Congo Basin.
Nexoil is a leading Angolan business house and will be responsible for
the processing of the documentation from Sonangol, the State Oil Company
of Angola.
The operator of the project “Quest Energy
Middle East Limited” (“Quest”)
has the requisite qualified operator status. CityView holds 8.3% equity
in Quest and Mr. Ansari is chairman of both CityView and Quest.
About CityView Corp.
CityView Corporation Ltd. is an exploration and development company. It
is management's objective to grow CityView into a significant uranium,
oil and gas project by developing its interest in Angola. The Company
trades on the OTCBB market under the symbol “CTVWF”
and on the Australian Exchange under the symbol “CVI.”
For more information, please visit the Company’s
web site at: www.cityviewcorp.com
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained herein which are not historical
are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward-looking statements, including, but not
limited to, certain delays beyond the company's control with respect to
market acceptance of new technologies or products, delays in testing and
evaluation of products, and other risks detailed from time to time in
the Company's filings with the Securities and Exchange Commission.
