CityView close to seal deal to sell part of Indonesian exploration interest to Medco

ASX-listed junior explorer CityView Corporation Limited said on Friday it was close to erach deal to sell part of its interest in two Indonesian exploration blocks to operator PT. Medco Energi International Tbk.

CityView has 20 percent gross interest in Madura JOB (East Java) and Simenggaris (East Kalimantan) blocks.

CityView plans to dispose part of its interest to finance exploration works in both blocks.

The company did not say the percentage of interest in sought to dispose.

The company said Medco would drill Sesayap B well in Simenggaris mid or late November with another well Sembakung #2 scheduled to spud late December this year. (alex)