TSX Venture Exchange: CQV
Frankfurt Stock Exchange: DFM
ST. JOHN'S, July 7 /CNW/ - Further to the News Release of July 2, 2008,
the following information is issued by Canadian Imperial Venture Corp. (the
"Company") pertaining to the Green Point Formation encountered in the 2K-39-Z
well which is currently drilling.
In accordance with National Instrument 51-101, the resources quoted in
the News Release are classified as "Undiscovered Resources". These are defined
in the Canada Oil and Gas Evaluation Handbook as "those quantities of oil and
gas estimated on a given date to be contained in accumulations yet to be
discovered". There is no certainty that any portion of the undiscovered
resources will be discovered and that, if discovered, it may not be
economically viable or technically feasible to produce them.
The Company intends to continue investigating the geological, engineering
and economic aspects of the Green Point Formation to determine its development
potential within Exploration Licence 1070 in which the Company has a 22.5%
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, 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, email@example.com;