2009-08-19-2007-11-01

To buy co., gaining operational control of onshore & offshore North Matanda Block, 1,187 sq. km. in N Douala/Kribi-Campo Basin, upper half Wouri estuary.

CityView Corp. Ltd., Perth, Australia, (OTCBB: CTVWF; ASX:CVI) plans to buy Petro Energy Africa Ltd. for cash and stock valued at US$19.5 million. CityView's share in the North Matanda PH72 oil field in Cameroon will double to a net 40% interest. This will give CityView operational control of the field via its controlling interest in Turnberry Resources Inc., which is 57% owned by Petro Energy Africa. North Matanda Block is 1,187 square kilometers in the northern region of the Douala/Kribi-Campo Basin covering the upper half of the Wouri estuary and surrounding onshore areas. The block is part onshore and shallow offshore. Condensate was discovered in two wells drilled to 3,000 meters in the permit by Gulf Oil USA during the 1980s. Petro Energy Africa is also negotiating with the Cameroon government for access to other key oilfields in the region. CityView chief executive Mark Smyth says, "Cameroon's stable business climate has already provided world-class projects such as the Mbalam iron ore project. Gaining operational control of North Matanda will allow us to better dictate both the schedule and strategic direction of the project to ensure maximum shareholder return. More importantly, CityView will gain access to a new host of exciting resource opportunities within Cameroon."