Canadian Imperial Venture

2011-01-14 16:22 ET - News Release

Mr. Steven Millan reports

SHOAL POINT 3K-39 WELL UPDATE

Canadian Imperial Venture Corp. has received notification from the operator, Dragon Lance Management Corp., 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 No. 112 drill rig is estimated to take between 20 and 30 days. The planned total drilled depth of the 3K-39 well is 2,200 metres (1,450 metres total vertical depth). The drilling of the 3K-39 well will be conducted as a tight hole.

We seek Safe Harbor.