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

Should the acquisition go ahead, CityView would double its stake in the oilfield to 40 per cent from the 20 per cent it acquired when it bought a 28.5 per cent stake in operator Turnberry Resources Inc.


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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 30/09/16

1 year TSR5 year TSR
105thFortescue Metals Group182%5%
453rdIluka Resources4%-10%
462ndWoodside Petroleum3%3%
729thAtlas Iron-64%-67%
774 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Other
$0 Other
$0 Issued
Total value as at the date of the transaction
Source: Morningstar


1st-Fortescue Metals Group$9,806.1m
3rd-Woodside Petroleum$6,935.4m
4th↑Iluka Resources$884.1m
5th↑Atlas Iron$803.7m
519 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

3rdNev Power$5.992m
13thStephen Pearce$2.551m
27thNick Cernotta$1.566m
Ranked by total remuneration from all listed WA companies

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