CityView wins right to buy oilfield stakeholder

Perth-based CityView Corporation Ltd has acquired the right to purchase 100 per cent of Petro Energy Africa Ltd, a move that would give it operational control of the North Matanda oil project in Cameroon.

If CityView elects to proceed with the 100 per cent acquisition it will pay around $5 million in cash and allot shares worth around $16.9 million to existing Petro Energy Africa shareholders

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