The company said its partner Medco Energi had signed an MOU for a 20 million cubic feet of gas per day (mmscf/d) sales contract with a Sebaya power station in East Java.
CityView said that while the figures Medco had released do not meet ASX listing rules and should not be relied on, it estimated the value of the contract at US$260 million over 15 years, starting in 2006.
The gas would be produced from the Sebaya gas field. CityView has a 25% gross interest.
The partners also received a year’s extension to their Madura concession.
