Hardt Energy GmbH

Hardt Energy - A member of Hardt Group - Exclusive advisor to Tagore Investments S.A. - Successful signing of the asset purchase agreement for a crude oil refinery of Tagore Investments S.A.

Vienna, London (ots) - HARDT ENERGY - the exclusive advisor to Tagore Investment S.A., a BVI company - announced today that Tagore Investment S.A. has reached an agreement to sell its 50.000 barrel crude oil refinery to CityView Corporation Limited. HARDT ENERGY acts as arranger and project advisor to Tagore Investments S.A. - the total purchase consideration is US$320 million. US$150 million of this will be raised by the placement of CityView shares, the price of which has been agreed with European institutions at Aus 20c per share. The balance of bank funding will involve both a major West African bank and a Global bank with the terms of the facilities and required due diligence in hand. HARDT GROUP Securities S.A. - a member of HARDT GROUP - acted as major lender by financing Tagore Investments S.A. and its refinery project. DDr. Alexander SCHWEICKHARDT, CEO of HARDT GROUP said: "We are extremely pleased with the professional cooperation with City View. The team has an exceptional deal flow, a strong track record and is very experienced in project financing at the highest level in a number of major projects." CityView CEO, Mark Smyth said; "Now that we are in a position to secure the refinery, we can finalise negotiations with third parties to determine the most suitable site to locate it. We have several options that are available to us at the present time". The transaction is subject to CityView shareholders' consent. A notice of EGM will be issued in due course, containing further details of the transaction and financing arrangements. Following this share placement it is anticipated that certain members of the new institutional investors will seek Board representation. The refinery purchase will be closed in 2008, with shipment and construction in 2009 and operations commencing in the first half of 2010. Expansion of the refinery to 100,000 bpd capacity will commence following installation of the first module. About TAGORE Tagore Investments S.A. has invested in the purchase, refurbishment and re-engineering of various technical components for the construction of a crude oil refinery (excluding on-site utilities, storage tanks and on-site infrastructure) with an operating capacity of approx. 50,000 barrels of crude oil per day. About CityView CityView owns a resources portfolio of oil, copper, gold, diamonds and rare earths. CityView's strategy is to secure title to major oil, mineral and diamond assets in West Africa and pursue a successful development programme. CityView is an Australian company, listed on the ASX in Australia, OTCBB in the USA and FSE in Germany. About HARDT ENERGY HARDT ENERGY provides services in the field of project development in the energy sector ranging from petroleum and petroleum refining, power and power generation as well as alternative energy sources and renewables. HARDT ENERGY runs a dedicated team of professionals with extensive experience in crude oil refining and processing, logistic operations, civil and electrical engineering, project development and financing. Through a well established network of partners and industry contacts, HARDT ENERGY is able to evaluate and pursue projects in all major energy markets. About HARDT GROUP HARDT GROUP is an institutionally focused, international Alternative Investment group with focus on Hedge Funds, Private Equity, Real Estate and Venture Capital. HARDT GROUP uses the deep expertise of its investment team extensively in its project and transaction business. The firm also seeks to partner with international co-investors who also have the specific knowledge in managing venture capital for investments in commodities and industrial companies. With offices in Vienna, New York, London and Zug. HARDT GROUP currently advises in excess of USD 1 billion assets in Fund of Hedge Funds, Private Equity and Direct Investments. ots Originaltext: Hardt Energy GmbH Im Internet recherchierbar: http://www.presseportal.ch Contact: Contact: Petra Schiendl Stubenring 18 1010 Vienna PHONE +43-1513 83 65-407 EMAIL info@hardtenergy.com

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