CityView North Matanda Oil Project Feasibility Study - Cameroon.PERTH, Australia Perth may refer to:
See OTC Bulletin Board (OTCBB). :CTVWF)(ASX ASX See: Australian Stock Exchange :CVI CVI C (Language) Virtual Instrument CVI Clinical and Vaccine Immunology (journal) CVI Chronic Venous Insufficiency CVI Coastal Vulnerability Index CVI Canaan Valley Institute )(FWB (Fixed Wireless Broadband) See fixed wireless. :C4Z), is pleased to announce that it has commenced the initial stage of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. of the development of the North Matanda Oil Project in Cameroon. The scope of the feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. will include: * Certification of reserves (both gas and condensate). * Design of plant and infrastructure to a level of detail for cost estimates of +/- 30% accuracy. * Capital and operating cost estimation to a level of +/- 30% accuracy. * Financial modelling to establish expected cash flow, profit and net present value. * Commencement of formal government and environmental approvals process. * Negotiation of off take agreements for both gas and condensate. * Decision on financing strategy. * Early award of the detailed engineering package to engineering contractor (pending finance). Mark Smyth said, "CityView is keen to complete the feasibility study to quantify the technical and commercial aspects of North Matanda. We are under no illusion that this project has the potential to be extremely profitable for all of the joint venture partners and we intend to bring it to fruition as quickly as possible. Therefore, the first critical hurdle is to complete a feasibility study on the project. Mr Conrad Maher, the recently appointed Chairman of the Advisory Board, is currently in Paris with a team of experts to commence the review and gathering of the Gulf Oil USA data as the first stage of this feasibility study." About the North Matanda Oil Project: The Matanda block (1187 km2) PH-72 (former OLHP-3) is situated in the northern part of the Douala/Kribi-Campo basin covering the northern half of the Wouri estuary and surrounding onshore areas. The block is partly onshore and partly shallow offshore. Condensate was discovered in two wells drilled to a depth of 3,000 metres in the permit by Gulf Oil USA during the 1980s. Gulf, who were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a giant oilfield similar to that found in the Niger delta, relinquished the permit. Gulf, as operator, based on the wells, seismic and testing, quoted the following reserves of condensate; P 60 MMBBLS P+P 120 MMBBLS P+P+P 300 MMBBLS Condensate prices from this region historically trade at a premium of US$3 to the price of Brent crude oil. West African condensate prices currently exceed US$75 per barrel. About CityView Corporation City View Corporation Ltd. is an exploration and development company. It is managements' objective to grow CityView into a significant uranium, beryllium beryllium (bərĭl`ēəm) [from beryl ], metallic chemical element; symbol Be; at. no. 4; at. wt. 9.01218; m.p. about 1,278°C;; b.p. 2,970°C; (estimated); sp. gr. 1.85 at 20°C;; valence +2. , oil and gas project by developing its interest in Angola. The company trades on the OTCBB market under the symbol "CTVWF" and on the Australian Exchange under the symbol "CVI". For more information please visit the company's web site at: www.cityviewcorp.com Forward-Looking Statements This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provision of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, revenues, and performance. Forward-looking statements are subject to risk and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to complete transactions which remain subject to a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. review, obtaining any regulatory approvals, having necessary financing in time to meet contractual obligations, developing appropriate strategic alliances, raising working capital, building a functional infrastructure, and other such risks as the company may identify from time to time. Accordingly, there is no certainty that the company's plans will be achieved. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion