SHAREHOLDER UPDATE

November 2007

This presentation may contain references to assumptions, representations, estimates, budgets and forecast outcomes that are uncertain by the nature of the business and no assurance can be given by CityView Corporation Ltd. that its expectations, estimates, budgets and forecast outcomes will be achieved. Actual results may vary materially from those expressed herein.

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CITYVIEW IN WESTERN AFRICA

CityView Corporation Ltd is an Australian based exploration company, listed on the ASX in Australia, OTCBB in the USA and DAX in Germany. Its main listing is on the ASX as CVI.

CityView’s primary focus is in Western Africa where it has base metals projects in Angola and an Oil & Gas project in the Cameroon. The Company is also applying in partnership for onshore oil concessions in Angola’s Kwanza Basin and in the Niger Delta in the Cameroon.

The Company’s management team has extensive experience in Africa with a good mixture of both technical and business skills.

CityView’s strategy is to accelerate existing mineral & oil projects through drilling with the aim of early production. Furthermore, CityView’s global network of contacts is providing further value creation opportunities through acquisition or joint venture.

The Company intends to quickly move to assess the economic parameters of each project with a view to advancing the project to production.

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STRUCTURE AND MANAGEMENT

Capital Structure ManagementShares on Issue (ASX : CVI)(OTCBB : CTVWF)(DAX : C4Z)Total 284,180,848

Options on issue (15c / Nov 2009) 104,434,169

Fully Diluted Capital 388,615,017

Market Capitalisation AUD$ 100m (AUD$0.35/share)

Cash on Hand AUD$ 6.4m(incl. Loyalty Option take-up fee)

Chairman To be advised

CEO Mark Smyth

Company Secretary Paul Williams

Non Exec Directors Paul de ChazalNicholas HoexterPeter Smith

Technical Advisory Board Conrad MaherBart de BoerDavid BooteLeith Wale

Share Trading VolumeJuly 2007 86,543,834August 2007 350,410,066 September 2007 138,239,682 October 2007 258,360,985

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Restructuring of Company has introduced:

Board with international experience of:-

• Identification and negotiation of exploration and exploitation prospects for natural resources

• The development of appropriate funding options

• The legal framework for natural resources development

• Bank project finance for natural resources development

• The technical and financial evaluation of project developments and their commodity sectors

• The management of exploration and development projects

• The negotiation of joint venture and equity partnerships

Advisory Board with major company experience of:

• Exploration geology, production geology and petroleum engineering

• Reservoir engineering

• Project evaluation and development

+Access to established exploration teams through joint-venture and equity participation

EXPERTISE & EXPERIENCEF

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THE STORY SO FAR…

2006

March CityView was a technically insolvent company listed on ASX owning two defunct Indonesian oil andgas permits.

March Mark Smyth accepts position of CEO, restructures the board, refinances the Company and focuses the Company’s long term strategy on metal and energy projects in Africa, in particular Angola.

July CityView acquires 30% (21% Equity) working interest in the Longonjo Metals & Ucua Beryllium Projects in Angola through partnership with Petro Africa Energy.

November CityView lists on Frankfurt Stock Exchange and reactivates its listing on NASD:OTCBB

November CityView in conjunction with Angolan partners apply for two onshore oilfields in Angola’s Kwanza Basin.

2007

June CityView acquires right to purchase 20% share in Cameroon Oilfield – North Matanda PH72.

July CityView forms advisory board consisting of world class oil experts.

August CityView commences feasibility on North Matanda PH72.

September CityView’s consulting geologists confirm extensive mineralisation at the Catabola prospect in the license. Sampling of old exploration adits confirm 84m at 0.81% Cu in adit 2, including 48m at 1.21% Cu & 4m at 4.7% Cu.

October CityView increases its interest in North Matanda PH72 by acquiring right to purchase 40% share.

November CityView increases its working interest in Longonjo and Ucua to 79% (55.3% equity) and commences drilling at Catabola prospect.

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SHARE PRICE PERFORMANCEF

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Kwanza Basin Oil Concession Applications

Ucua Beryllium Project (CVI 55.3%)

Longonjo Metals Project (CVI 55.3%)- Catabola Prospect (Cu/Au)- Carbonatite Prospect (Rare Earth / Nb / Phosphate)

ANGOLACITYVIEW’S PROJECTS & PROSPECTS

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WHY ANGOLA?

End of civil war has allowed access to onshore areas.

Angola has an untapped wealth of energy and minerals – CityView is one of the first to explore for minerals in the country since the civil war stopped.

Companies enjoy favorable tax and working conditions:• 30% company tax• Major oil producers already pumping >1.7m barrels oil / day offshore

MOST IMPORTANTLY CityView has the business and government connections to acquire and finance projects within Western Africa

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ANGOLALongonjo & Ucua

Longonjo Metals ProjectThe Longonjo license covers an area of 3,764 square kilometers southwest of the city of Huambo in central Angola. The license area lies within the Congo Craton, an Archaean basement which has been overlain by Proterozoic and Eocene sediments and intruded by a series of Proterozoic granites and Cretaceous ultramafic pipes. Work to date has revealed two prospects within the license area. These have been named Longonjo Carbonatite and Catabola.

CarbonatiteLongonjo Carbonatite consists of an outer rim of altered granitoid around a series of central polymictic, carbonate rich breccias. The distribution of carbonatites in Angola is loosely related kimberlites and they are generally situated within the same NE-SW trend as the kimberlites. Longonjo carbonatite is known to be prospective for niobium, tantalum and uranium minerals in particular, as well as other minerals commonly associated with carbonatite complexes.

CatabolaCatabola is an IOCG (iron oxide copper-gold) occurrence situated in the southern part of the licence area. Copper and iron oxide mineralization has been identified over a 1.6km strike length, with copper minerals including azurite, malachite and chrysocolla constituting approximately 50% of the host rock.

Ucua Beryllium ProjectThe Ucua licence covers an area of 1,358 square kilometers and hosts the Dande Pegmatite Complex. This complex is potentially an important source of beryllium, with studies conducted during the 1970’s indicating the potential for the occurrence of economic quantities of beryllium. 59 prospects have been identified in the license area and these will be examined in the current field season.

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ANGOLACATABOLA PROSPECT – (Cu / Au)

Reconnaissance Exploration

Looking along strike up Catabola Ridge

White arrow showing direction of view up Catabola Ridge

“Catabola has the potential to be a significantly large copper deposit”

“The rapid increase in our stake of the projects further cements CityView’s status as a significant player in the chase for minerals discovery in Angola.”

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Reconnaissance Exploration

Consulting Geologists Inspecting one of the old exploration adits at the Catabola Prospect

ANGOLACATABOLA PROSPECT – (Cu / Au)

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Brecciated quartzite with secondary copper matrix(Exploration Adit 2 at Catabola)

Reconnaissance Exploration

Chrysocolla infilling fractures(Exploration Adit 2 at Catabola)

Channel sampling of old exploration adits revealed 84m at 0.81% Cu including

48.2m at 1.21% Cu with a peak of 4m at 4.70% Cu.

ANGOLACATABOLA PROSPECT – (Cu / Au)

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Proposed Drilling Program – November to December

• Total of 2200m to be drilled at Catabola and 800m at the Carbonatite Rare Earth Prospect • The purpose of this drilling programme is to delineate, both along strike and down dip,

the extent of the copper/gold mineralisation observed in the old workings at Catabola.

Map on left shows location of planned drill holes locations at Catabola. The photo on the right is without the drill plot superimposed.

ANGOLACATABOLA PROSPECT – (Cu / Au)

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23 Concession Blocks (Area: 1,024 km2 each)

CityView jointly applying for 2 blocks

Expect award before end of the 2007

Huge potential for large discovery

CityView’s oil experts have ensured we have applied for prime blocks

Luanda

ANGOLAKWANZA BASIN – ONSHORE OIL & GAS

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CAMEROONCITYVIEW’S PROJECTS & PROSPECTS

North Matanda Oilfield PH72 (CVI right to 40%)

Niger Delta – targeting access to highly prospective oil license with potential for massive oilfield

Population – approx 17 million Capital – YaoundéUnder explored – good potentialCountry’s current oil production ~ 100,000 bpdAfrica’s 6th largest oil producerGDP US $15 billion (’05)Current growth of 2.2% per annum Hydrocarbon development is central to the country’s sustained prosperity plans

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CAMEROONCITYVIEW’S PROJECTS & PROSPECTS

Petro Energy Africa Ltd

CityView has acquired the option to purchase 100%.If CityView exercises its option it will pay US$4.5m + US$15m in equity.Petro Energy owns 57% of Turnberry resources who hold 70% of Matanda PH72.Has opened the door to negotiations for other oil permit applications in Cameroon.

North Matanda PH72 Feasibility Study / Due Diligence

Certification of reserves (both gas and condensate).Design of plant and infrastructure.Capital and operating cost estimation.Financial modeling.Commencement of formal government and environmental approvals process.Negotiation of off take agreements for both gas and condensate.Decision on financing strategy.Early award of the detailed engineering (pending FS outcome).

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CAMEROONNORTH MATANDA – PH72 OIL & GAS

North MatandaPH72

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CAMEROONNORTH MATANDA – PH72 OIL & GAS

North MatandaPH72

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CAMEROONNIGER DELTA

“The Niger Delta is one ofthe most prolific oil producingareas in the world”

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SUMMARY

Rapid growth phase with 3 possible company makers and others in the pipelineManagement team with good mix of technical and business skillsExcellent connections in Western Africa

Oil & Gas:

Kwanza Basin – Decision by end of year.Niger Delta – Negotiations ongoing with decision likely by end of year.North Matanda – Subject to feasibility / due diligence - decision on execution early 2008.

– Right to acquire 57% of Turnberry Resources (70% holder of Matanda).Others – Invitations to apply for licenses in Gabon and the Congo.

Minerals:

Longonjo Metals Project – 3,764 km2 of under explored yet high prospective license.– Prospective for Cu / Au / Rare Earths / Niobium and Phosphate.– Drilling program November to December at Catabola and Carbonatite.– High potential for a Cu / Au deposit of economically exploitable size.– Close to infrastructure and water.

Ucua Beryllium Project – 1,358 km2 of under explored license – hosts the Dande Pegmatite Complex. – Good potential for exploitable deposit of beryllium.

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