TSX Venture Exchange: CQV
Frankfurt Stock Exchange: DFM
ST. JOHN'S, Feb. 9 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" / the
"Company") is pleased to provide the following update on its Alberta program:
As indicated in a News Release dated November 19, 2008, the company had
entered into a farmout agreement covering certain Company lands in Southern
Alberta. The first well under the farmout agreement was drilled and abandoned,
having failed to discover economic quantities of natural gas. The significance
of this well to be Company's overall Alberta strategy is limited to the local
area in the vicinity of the well and the Company remains committed to
achieving its shallow gas objectives in Alberta.
Due to existing tight financial markets and low natural gas prices, the
Company is proceeding slowly and cautiously and will continue its strategy of
getting wells drilled on its lands in Alberta through farmouts. To this end,
the Company is currently in discussions with the current farmee on extending
the existing Area of Mutual Interest to include additional prospects.
Canadian Imperial Venture Corp. is an independent Canadian-based energy
company with interests in petroleum exploration and development in western
Newfoundland and in western Canada. 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.
Steven M. Millan, P.Geo.
Chairman 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.
For further information:
For further information: Canadian Imperial Venture Corp., (709)
739-6700, Fax: (709) 739-6605, firstname.lastname@example.org;