ST. JOHN'S, NL, Feb. 23, 2012 /CNW/ - Canadian Imperial Venture Corp.
(TSXV: CQV) ("CIVC") is pleased to announce the following update
provided by Shoal Point Energy Ltd.:
Shoal Point Energy announced yesterday that operations at the Shoal
Point 3K-39z well are continuing, and that the side-tracked well is
expected to reach a measured depth of approximately 1,800 metres over
the next few days, after which the borehole will be logged, and a open
hole test will be run over the entire approximately 190 metre open hole
section below the whipstock. Thereafter, the hole will be drilled to
final total depth.
As announced previously, the current work will also involve up to four
tests out of the casing in the existing 3K-39 borehole, subject to
final regulatory approvals of the testing program. All tests will
occur within the Green Point Formation, and will test the flow
potential and reservoir characteristics of unstimulated, fractured
Green Point shales. The balance of the program is expected to take up
to 45 days to complete.
Canadian Imperial Venture Corp. is an independent Atlantic
Canadian-based resource company holding a significant interest in Shoal
Point Energy Ltd.
CANADIAN IMPERIAL VENTURE CORP.
Gerard Edwards, 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: firstname.lastname@example.org / website: www.canadianimperial.com