Release: re: Madura Block-Telaga #1 Hydrocarbons
Tuesday, April 15 2003 - 09:04 AM WIB
RESPONSE TO ASX QUERY
In response to your letter of 11 April 2003 and CityView's release of a prospect montage of the Telaga #1 prospect. The release related to the intention to carry out a wildcat exploration well and was taken from the prospect montage provided by the Operator and majority shareholder in the prospect.
It has come to the attention of the Company that the statement relating to the estimate of prospective hydrocarbon reserves in the release does not meet the reporting standards required of Australian Stock Exchange.
WARNING
The statement of hydrocarbon reserves has not been verified to CityView by an appropriately qualified geologist and investors are warned that they cannot rely on the estimate.
CityView released the material provided to it in good faith but warns investors that the estimate of hydrocarbon reserves has not been verified to the satisfaction of Australian Stock Exchange.
Thinagaran, DIRECTOR of CityView Corporation Limited
ASX QUERY
We refer to your announcement dated 11 April 2003 of Prospect Montage - Madura Island - Telaga #1 Well.
Australian Stock Exchange Limited ("ASX") notes that the announcement contains details of the wells' hydrocarbon reserves. Accordingly, for the purposes of listing rules 5.11, 5.12 and 5.13 we request the Company to provide a competent person statement in respect to the hydrocarbon reserves.
We advise the Company that an appropriate form of a statement is included in Appendix 5A of the listing rules.
ASX would appreciate receiving the above information in a form suitable for release to the market by no later than 5pm WST Tuesday 15 April 2003. Please direct your response to facsimile (08) 9221 2020.
If you should have any queries in relation to the above, please do not hesitate to contact the undersigned on (08) 9224 0023.
Jill Hewitt, COMPANIES ADVISOR of Australian Stock Exchange.