ST. JOHN'S, NL, March 3 /CNW/ - (TSXV: CQV) Canadian Imperial Venture Corp. (the "Company" / "CIVC") is pleased to provide the following update on the 3K-39 well in Western Newfoundland:
Shoal Point Energy has advised the Company that the 3K-39 well is drilling toward core point #3 at 1235 metres. The Company's drilling plan calls for six cored intervals representative of the entire Green Point shale thickness which lies between approximately 600 metres and 1850 metres measured depth. Each coring operation will attempt to recover two consecutive 9 metre cores for a total of 18 metres per interval. Core data will form the cornerstone of our evaluation of this oil-in-shale resource play; it will allow our technical specialists to calibrate logs to real rock data. This will further provide updated and more precise oil-in-place resource estimates for EL1070. After total depth is reached, the operation will culminate in a comprehensive logging, testing and completion program.
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.
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: info@canadianimperial.com website: www.canadianimperial.com
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ST. JOHN'S, NL, March 3 /CNW/ - (TSXV: CQV) Canadian Imperial Venture Corp. (the "Company" / "CIVC") is pleased to provide the following update on the 3K-39 well in Western Newfoundland:
