Drilling rig on transit to Madura PSC in E. Java

Australian listed oil and gas explorer CityView Corporation Limited said Tuesday its joint 75 percent joint venture partner local oil and gas company PT Medco Energi Corporation TBK ("Medco") had completed the removal of all rig equipment out of the Soka field in South Sumatra and now in transit to Madura production sharing contract (PSC) exploration area in East Java

CityView said Medco had been carrying out extensive geological and geophysical studies of the hydrocarbon potential of Madura PSC and has discovered further prospects with multiple reservoir layers of both carbonate and sandstone.

Meanwhile, at Simenggaris exploration PSC in East Kalimantan where Cityview also partners with Medco, CityView said the dredging had completed 147 meters length and 40 meters width.

Contracts for the drilling services in Simenggaris PSC have been signed and bids for the rig are being evaluated, said CityView

"The Company is pleased that Medco is accelerating its work program and we look forward to significant activity next month." CityView's Chief Executive Officer, Mark Smyth, said. (alex)