Canadian Imperial Venture Corporation

Description

Southern Alberta Operations The play in Western Newfoundland is characterized as being high impact (i.e. high risk and high potential reward). Western Newfoundland is also a high cost operating area with individual wells costing in the order of $15 million. While Western Newfoundland has been, and continues to be, an area of focus for the Company, a conscious decision was made in 2006 to initiate activity in Southern Alberta to provide a more balanced portfolio of opportunities. In South Alberta, the Company is pursuing a regional shallow gas play based on an innovative geological concept and the application of geophysics and geochemistry to identify prospects. South Alberta was chosen because of the exceptional petroleum endowment of the basin and the well developed individual infrastructure. The Company also chose to enter Alberta during a down-cycle in the gas business which had the effect of reducing prices for land acquisition and services. The Company's activities to-date have concentrated on geological and geophysical mapping in order to identify preferred areas for land acquisition.

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