Canadian Imperial Venture Corp (C-CQV) - News Release

Cdn Imperial sets cement plug, to drill at 2K-39

2008-06-20 14:39 ET - News Release
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CQV Close 2008-06-19 C$ 0.16

Mr. Steven Millan reports

2K-39 OPERATIONS UPDATE

Canadian Imperial Venture Corp. (CIVC) has been informed by the operator, Shoal Point Energy Ltd. (SPE), that pressure testing of the casing and blowout preventers is complete, and a cement plug has been set on top of the fish. A decision was made to bring in equipment to avoid drilling problems which were encountered while drilling the Aguathuna formation in the Hunt Port au Port No. 1 discovery. This equipment is coming in from Alberta and it is anticipated that drilling of the prospective horizons will commence some time in the coming week. While not absolutely necessary, setting the cement plug and bringing in additional equipment are considered to be prudent to avoid potentially costly problems in the next phase of the operations.

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