Release: CityView: Simenggaris Block ? East Kalimantan, Indonesia Sesayap B-1

January 24, 2006 ? CityView Corporation Limited ("CityView") has received the following information from its Joint Venture partner and Operating Shareholder, PT Medco Energi Internasional TBK ("Medco"):

OPERATOR: Medco Simenggaris ? Pertamina JOB
WELL: Sesayap B-1
RIG: P.T. Apexindo 14
SPUD: 17.00 Hrs - 30 December 2005
PLANNED TD: 6024ft

FORMATION OBJECTIVE:
Primary:
Sandstone reservoirs within the Meliat and Tabul formations that indicated hydrocarbon potential from the Sesayap A-1 well drilling.
Secondary:
Santul and Naintupo formations that indicated hydrocarbon shows in the sandstone reservoirs in the Sesayap A-1 well.

SUMMARY of ACTIVITY:
▪ Drilling of 8 ?" hole has progressed to TD of 6,025ft and the hole is being cleaned out.
▪ A 12 ?" hole was previously drilled to 3205 ft and 9 5/8" casing was set.
▪ Early background gas units encountered (2420ft and beyond) were circulated out.
▪ Single shot survey made; logging at 3202.5 ft.

PRESENT ACTIVITY:
▪ Circulation hole cleaning
▪ Wiper trip
▪ POOH in preparation for logging

UPCOMING ACTIVITY:
▪ Logging
▪ Well testing (end of release)