Frankfurt Exchange: DFM
ST. JOHN'S, Jan. 14 /CNW/ - Canadian Imperial Venture Corp. (the
"Company" / "CIVC") is pleased to announce that it has been informed by
the Operator, Dragon Lance Management Corporation ("DLMC") that
operations have commenced on the Shoal Point 3K-39 well in Western
Newfoundland. The 3K-39 well will be directionally drilled from an
onshore surface location on the northern tip of Shoal Point to a
subsurface target beneath Port au Port Bay and is designed to test the
Green Point Oil-in-Shale Resource Play in Permit EL 1070.
Drilling, using the Nabor's #112 drill rig is estimated to take between
20 and 30 days. The planned total drilled depth of the 3K-39 well is
2200m (1450m total vertical depth). The drilling of the 3K-39 well
will be conducted as a "tight hole".
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: "Steven M. 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.
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: email@example.com / website: www.canadianimperial.com