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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: RCJIII who wrote (19560)1/18/2000 10:59:00 PM
From: Veteran98   of 150070
 
CVCL heavy day of trading today, interesting news release the other day. It has always been rumored that CVCL may be looking at an e-commerce or internet deal, maybe they will be putting this $10 million to good use. Should gap up to .60 tomorrow as this is what it is currently trading at in Australia at the moment. .89Aus = .59 US.

Malaysia Mining Corporation Berhad completion of sale

CityView Energy Corporation Limited ("CityView") has completed the
sale of its oil and gas interest in SC41 Philippines to Malaysia
Mining Corporation Berhad ("MMC"), generating a gain of approximately
Aus$10.6 million in the accounts of CityView. All outstanding debts
to MMC are now extinguished.

Documentation is reaching conclusion with Medco Energi Corporation
("Medco") in relation to CityView's Indonesian oil and gas fields for
an extensive drilling and development program. As a result, CityView
will achieve a 25% gross free carried interest in its Indonesian
fields until 2002.

The sale of the Philippines interest in SC41 and the free carry of
the Indonesian oil and gas fields were approved by the shareholders
of CityView at the General Meeting held on 30 December 1999.

A P Woods
COMPANY SECRETARY/CHIEF FINANCIAL OFFICER
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