3K-39 Well Update

Trading Symbols:
TSX-V: CQV
Frankfurt Exchange: DFM

ST. JOHN'S, NL, April 1 /CNW/ - (TSXV: CQV) Canadian Imperial Venture Corp. (the "Company") is pleased to announce that the Shoal Point 3K-39 well has reached 1745 metres measured depth at Shoal Point, EL 1070, western Newfoundland. The well will be logged in advance of potential open-hole testing and a casing string will be run in anticipation of future completion for production.  The well collected approximately 50 metres of conventional core, comprising 10 separate cores, over the five most prospective intervals within the gross Green Point section between 400 metres (surface casing point) to bottom hole at 1745 metres measured depth.  The well was deviated to an average dip of 56 degrees, and lies within 100 metres of the previously-drilled 2K-39 well.

As stated in earlier news releases, the primary purpose of the well is to evaluate the oil production potential of the Green Point Formation/Cow Head Group organic rich rocks. To that end, the operation is on target to meet all its objectives.  Evaluation of the logs will commence over the next several days and will benefit from studies from collected cores, currently being carried out in Calgary and Houston.  Multiple samples from the cored intervals will be evaluated for XRD and clay analysis, porosity and permeability and TOC (Total Organic Carbon) and Rock Eval.  This initial assessment will then be integrated into the comprehensive logging program to fully evaluate the pay potential and testing intervals.

Total gas and gas chromatograph data confirm the mud gas shows seen in 2K-39 and indicate a thick section of oil-bearing strata, with several high potential zones identified.  The focus of the log analysis will be to identify the intervals that will ultimately be tested by open-hole testing, or by further stimulation and testing through casing.

Canadian Imperial Venture Corp. is an independent Canadian-based energy company, a leader in the Green Point oil-in-shale play.  Eastern Canada is the home to such developments as the Hibernia, Terra Nova, White Rose, Sable Island, Deep Panuke, and McCully fields.

CANADIAN IMPERIAL VENTURE CORP.

By:  "Gerard Edwards"
Gerard Edwards, MBA
President and CEO

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS PRESS RELEASE.

This release includes certain forward looking statements which reflect beliefs, expectations, objectives and goals which are believed to be reasonable at the time such statements are made.  Actual results could differ materially from anticipated results and may be impacted upon such factors as commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation.

SOURCE CANADIAN IMPERIAL VENTURE CORP.

For further information:

Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. C
St. John's, NL   A1C 6J9


Tel.: (709) 739-6700 / Fax: (709) 739-6605 / E-mail: info@canadianimperial.com / website: www.canadianimperial.com

Profil de l'entreprise

CANADIAN IMPERIAL VENTURE CORP.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.