Canadian Imperial Venture Corp.

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

    ST. JOHN'S, March 12 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" /
the "Company") today announced the following:

    - That after producing a total of 686 m(3) (4,315 Bbls) of oil and
      429 10(3) m(3) (15.1 mmcf) of gas, the ST #2 well ceased
      flowing and is currently shut in. A preliminary analysis of the well
      production data by CIVC's engineering consultant, Trimble Engineering
      of Calgary, Alberta ("TEAL"), suggests that the current lack of liquid
      flow is likely due to one of several possible mechanical problems in
      the wellbore and/or the wellbore-reservoir interface. No immediate
      water production problems are evident and TEAL conclude that
      significant reservoir depletion is unlikely. This conclusion on the
      lack of reservoir depletion is in accordance with the opinion expressed
      by PDI Production Inc.'s reservoir engineering consultant, Klaus
      Eriksen which was the basis of CIVC's February 5, 2007 News Release.

      Further investigations are necessary to determine the nature of the
      problem in the ST #2 well more precisely and to identify
      the required remedial actions.

    - Steven Millan, CIVC's Chairman announced that Mr. Alex Lamb has
      resigned from the Board of the Company, effective March 6, 2007. "On
      behalf of the Board, I extend our thanks for the contribution that
      Mr. Lamb has made and we wish him continuing success and good
      fortune," said Mr. Millan.

    For further information, please contact the Company.


    "Steven Millan"
    Steven M. Millan, P.Geo.
    Chairman and CEO

    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.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Canadian Imperial Venture Corp., (709)
739-6700, Fax: (709) 739-6605,,

Organization Profile

Canadian Imperial Venture Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890