Canadian Imperial Venture Corp. - Update



    Trading Symbols:
    TSX Venture Exchange: CQV
    Frankfurt Stock Exchange: DFM

    ST. JOHN'S, July 25 /CNW/ - Canadian Imperial Venture Corp. (the
"Company") announced today that operations to secure the 2K-39-Z well are
nearing completion after which the Nabors No.45 rig will be relocated to the
Garden Hill site to commence a 90 day operation for PDI Production Inc.
("PDIP"). It is noted that both the well bore and well site will be left in a
condition for future re-use. The rig contract makes a provision for the rig to
return to Shoal Point on completion of the work at Garden Hill.
    Interpretation of the voluminous data from the well is ongoing and it
will take some time before definitive statements can be made. Early
indications, however, are encouraging, pertaining both to the Green Point
shale and the St. George's Group platform sequence. The Company and its
partners will therefore be advancing both of these plays as rapidly as
possible.

    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 Millan"
    ---------------
    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, info@canadianimperial.com;
www.canadianimperial.com

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Canadian Imperial Venture Corp.

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