Canadian Imperial Venture V.CQV.H

That's Alot of Oil

[U2Rocks]

Because the boundaries of the Garden Hill South field cannot be mapped at this point, reserves cannot be assigned, and a speculative potential of 100 mmbo recoverable are assigned, based on all available information and analogues. Adding this to the 100-300 mmbo potential for a structural Garden Hill North prospect, regional speculative potential for the inversion fairway is estimated at 200-400 mmbo recoverable. Using the Case 1 projected area (Figure 2), the original structural prospect range of 76-130 mmbo, and drawing from the analogues presented above, a speculative potential of 100 mmbo is assigned to Garden Hill South. The uncertainties are balanced by the additional upside discussed in Case 3 above. The possibility for discovery of a major pool in the order of several hundred million barrels of recoverable oil does exist. Because Garden Hill North is still considered a structural prospect, former reserve estimates of 100-300 mmbo recoverable are maintained. These numbers combined produce a range for the entire fairway of 200-400 mmbo recoverable. Canadian Imperial Venture is a Newfoundland-based independent oil and gas company with exploration and development acreage onshore and offshore Western Newfoundland and interest in the development of the Marquise Gas Park, a 640 acre natural gas-based industrial park in Argentia, Newfoundland.