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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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BN30 Index

Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 29/07/16

1 year TSR5 year TSR
129thFortescue Metals Group144%-4%
777 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

29/07/16
$0 Other
29/07/16
$0 Other
29/07/16
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Total value as at the date of the transaction
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th-Fortescue Metals Group$9,806.1m
527 listed resources companies ranked by revenue.
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Remuneration from Fortescue Metals Group

3rdNev Power$5.992m
12thStephen Pearce$2.551m
25thNick Cernotta$1.566m
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