Canadian Imperial Venture Corp. has 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.
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