Jan. 26/St. John’s – Canadian Imperial Venture Corp. (“CIVC” / the “Company”) is pleased to have learned that the Stoneham Drilling Rig No.11 will be moving this week to the Nalcor Energy drill site at Parson’s Pond where drilling is anticipated to commence in 2 to 3 weeks time. CIVC holds a 1.5% Gross Overriding Royalty on the Parson’s Pond property.
“The presence of the Stoneham rig in Western Newfoundland and its sharing among operators is a positive factor for CIVC and its partners who have plans to drill in 2010,” said Steven Millan, CEO of CIVC.
Canadian Imperial Venture Corp. is an independent Canadian-based energy company with interests in petroleum exploration and development in western Newfoundland and in western Canada. Eastern Canada is the home to such developments as the Hibernia, Terra Nova, White Rose, Sable Island, Deep Panuke, and McCully fields.
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., (709) 739-6700, Fax: (709) 739-6605, info@canadianimperial.com; www.canadianimperial.com
