posted
From this morning but seems to have a good effect on this one.
CityView memorandum of understanding in Indonesia
Monday , July 12, 2004 23:17 ET
Sydney, Jul 13, 2004 (RWE via COMTEX) -- CityView Corporation Ltd today reported the following information from its joint venture partner and operating shareholder, PT Medco Energi Internasional TBK:
A memorandum of understanding (MOU) was signed between JOB Pertamina Medco Madura Pty Ltd and PT Pembagkitan Jawa Bali for Pusat Pembangkit Listrik di Madura (Electricity Development Centre in Madura) for the supply of gas over 15 years in relation to power generation on Madura Island.
The MOU does not specify prices for the sale of the gas and is contingent on the proving of sufficient resources and production in sufficient volumes over a 15-year period.
CTVWF: Operator Obtains 1 Yr Extension Regarding Madura Blck
Monday , July 12, 2004 10:27 ET
CityView Corporation Ltd (OTCBB : CTVWF) filed a a href="http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=2885939&doc=1&total=&back=1&g=&attach=on">6-K on 7/12, in which the Company reported that it has received the following information from its Joint Venture partner and Operating Shareholder - PT Medco Energi Internasional TBK:
The Operator has obtained a confirmed one-year extension for the relinquishment of the Madura Block from the relevant Indonesian authorities.
The Operator has completed the land acquisition for the drill site and is currently finalising the various contracts for the drilling of the proposed delineation well, Sebaya # 2.
In line with the study and joint recommendations made by Gaffney, Cline & Associates (Consultants) Pte Ltd and the Madura Joint Operating Body (which can be viewed at www.cityviewcorp.com under "Recent Announcements" dated February 17, 2004), the Operator has advised that it has had discussions with the national power company, PLN, and is reasonably confident of securing a Memorandum of Understanding for the supply of gas to the Gili power plant on Madura Island by the end of June 2004.
The work program and budget for the drilling of a second proposed delineation well on the Sebaya prospect, which is contingent on the success of Sebaya #2 is also being prepared.
quote:Originally posted by Garfield1981: It is insane, did you buy it? I found it is interesting when you made the post it went up 122%, but I didn't bother to buy it at that time....
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