Canadian Imperial Venture Expects Nabors 45 in Newfoundland Feb. 11

Canadian Imperial Venture Corp. reported that transportation of the Nabors 45 Rig from Alberta to Shoal Point, Newfoundland, commenced Jan. 28. The rig will be used to drill the Shoal Point 2k39 well, a directional hole from an onshore surface location on Shoal Point to an offshore target under Port au Port Bay on Exploration Licence 1070. The well will be drilled as a "Tight Hole" meaning that access to information will be restricted.

Information provided by the Operator, Shoal Point Energy Ltd. indicates that over the past seven days, sixty trucks from Newfoundland and elsewhere on the East Coast were mobilized by Hunt's Transport Ltd. to Alberta for the rig move. Five trucks have already been loaded and dispatched from the loading site in transport to the Shoal Point location and approximately fifteen trucks per day will be loaded over the next four days. Travel to Newfoundland is expected to take approximately ten days.

Barring weather-related delays, rig-up on location is anticipated to commence around February 11, 2008 and will take approximately six days.


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