PERTH, Australia--(BUSINESS WIRE)--CityView Corporation Ltd. (OTCBB:CTVWF) (ASX:CVI) (FWB:C4Z), is pleased
to announce its quarterly report for the month ended December 31st
2006.
In addition to the quarterly report CityView has released its Longonjo
project geological report. CityView holds a 36.3% working interest in
the Longonjo licence and oversees the project operations. To view this
report in its entirety go to: http://www.cityviewcorp.com/recentframe.html.
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.
In October 2006 CityView increased its working interest in both the
Longonjo licence and the Ucua licence from 30% to 36.3%. To accelerate
the work programme, contracts were executed with:
(i) Black Rock Resources Ltd for the provision of project
management services; and
(ii) Aurum Exploration Ltd for the provision of geological and
technical field services and G.I.S. and drafting services.
On November 13, 2006 CityView commenced its rock/soil sampling program
at its Longonjo licence area which comprises two distinct projects:
1. Longonjo Carbonatite is known to be prospective for niobium,
tantalum and uranium/thorium minerals commonly associated with
carbonatite complexes.
2. Catabola is an IOCG (iron oxide copper-gold) occurrence. Copper and
iron oxide mineralisation has been identified over a 1.6 kilometre
strike length, with copper minerals constituting approximately 50%
of the host rock.
At Longonjo Carbonatite 453 soil samples have been collected from 19
lines, covering an area of approximately 3.7 kilometres square.
At Catabola 623 soil samples were taken including duplicates and
standards, and 24 survey lines have been completed along 2.3 kilometres
of base line, oriented at 310 degrees. In addition 104 rock chip samples
have been taken from 13 trenches and 9 grab samples from the surrounding
area. Detailed mapping has also been completed over an area covering
approximately 2 kilometres square.
All the samples are now in Luanda awaiting certification from the
Department of Geology and Mines. As soon as this is finalised, the
samples will be exported to OMAC labs for assay.
Angola - Oil
On December 13, 2006 CityView was advised by its co-venturer Nexoil
Corporation SARL that the documents for its two onshore oilfield
applications had been lodged with Sonangol, the State Oil Company of
Angola and are currently being processed. The proposed concession areas
lie respectively adjacent to the north and south of the Kwanza river in
the centre of the Kwanza Basin.
Indonesia – Gas
Madura Concession
On October 8, 2006 a replacement well Konang-3R was spudded and reached
a depth of 3,071 feet of its target depth of 3,600 feet when it struck
technical difficulty. The decision was made to temporarily suspend the
well for further study of the drilling and geological issues.
CityView has a 2.65% interest in the Madura PSC and is free carried
through the drilling of Konang -3R.
Dubai – Quest Energy Middle East Limited
In November 2006 Quest Energy Middle East Limited and PTT (Petroleum
Authority of Thailand) signed a Memorandum of understanding for joint
operatorship of the Rag-e-Safid oilfield with the objective of
increasing its current production to 220,000 barrels of oil per day.
Project technical review is in progress.
On November 7, 2006 the formal inauguration of the 942 MW Fars gas
turbine power plant construction was held. The project is a 50/50 joint
venture between Quest Energy Middle East Limited and Mapna
International. Approximately 3 million euros have been spent to date by
the joint venture.
Corporate
On November 1, 2006 CityView announced that it had been listed on the
Frankfurt Stock Exchange under the code C4Z.
Finance
Cash at Bank AUD$906,440
Expenditure for the Quarter AUD$387,640
