Operations Update - SPE et al 2K-39-Z



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

    ST. JOHN'S, July 4 /CNW/ - Canadian Imperial Venture Corp. ("CIVC") has
been informed by the operator, Shoal Point Energy Limited ("SPE") that, as at
5:30 am Friday, July 4th, the SPE et al 2K-39-Z well was drilling ahead at
2930m drilled depth. The rig is continuing to drill 216mm (8-1/2") directional
hole toward the primary target.
    The next operations update will be provided in seven days time or on the
occurrence of a material event.
    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 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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