Frankfurt Exchange: DFM
ST. JOHN'S, NL, April 1 /CNW/ - (TSXV: CQV) Canadian Imperial Venture
Corp. (the "Company") is pleased to announce that the Shoal Point 3K-39
well has reached 1745 metres measured depth at Shoal Point, EL 1070,
western Newfoundland. The well will be logged in advance of potential
open-hole testing and a casing string will be run in anticipation of
future completion for production. The well collected approximately 50
metres of conventional core, comprising 10 separate cores, over the
five most prospective intervals within the gross Green Point section
between 400 metres (surface casing point) to bottom hole at 1745 metres
measured depth. The well was deviated to an average dip of 56 degrees,
and lies within 100 metres of the previously-drilled 2K-39 well.
As stated in earlier news releases, the primary purpose of the well is
to evaluate the oil production potential of the Green Point
Formation/Cow Head Group organic rich rocks. To that end, the operation
is on target to meet all its objectives. Evaluation of the logs will
commence over the next several days and will benefit from studies from
collected cores, currently being carried out in Calgary and Houston.
Multiple samples from the cored intervals will be evaluated for XRD and
clay analysis, porosity and permeability and TOC (Total Organic Carbon)
and Rock Eval. This initial assessment will then be integrated into
the comprehensive logging program to fully evaluate the pay potential
and testing intervals.
Total gas and gas chromatograph data confirm the mud gas shows seen in
2K-39 and indicate a thick section of oil-bearing strata, with several
high potential zones identified. The focus of the log analysis will be
to identify the intervals that will ultimately be tested by open-hole
testing, or by further stimulation and testing through casing.
Canadian Imperial Venture Corp. is an independent Canadian-based energy
company, a leader in the Green Point oil-in-shale play. 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.
By: "Gerard Edwards"
Gerard Edwards, MBA
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