CityView sells part of interest in E. Java oil concession

Australian firm CityView Corporation Limited announced on Friday it had agreed to sell one-fifth of its 25 percent interest in Medco Madura Pty Ltd to Bainsford Limited for A$1.1 million.

Medco Madura Pty Ltd is the operator of JOB Pertamina-Medco Madura block in East Java.

Upon conclusion of the sale, said the company, CityView will hold 20 percent of the total issued capital of Medco Madura Pty Ltd.(alex)