Canadian Imperial Venture V.CQV.H

RE: New Addition to PDIP

[sunny1018]

Mark Graham joins the Board of PDIP Inc. 28th August 2006 We are pleased to advise that Mark Graham has joined the Board of PDIP Inc. Mark is Managing Director and a founder of TRACS International which is a consulting company based in Aberdeen and which provides petroleum and geoscience services to multinational and independent oil companies around the world. Mark specialises in petrophysical engineering and field development projects; he has over 25 years experience in the oil industry having worked as a logging engineer for Schlumberger and as petrophysicist, operations engineer and field development team leader with Shell International prior to establishing TRACS. Mark brings the expertise and the access to TRACS services that PDIP require in order to fulfill its objectives as operator of Garden Hill Field South and other properties; over the past few months PDIP has been in contact with other specialists who worked on the project before it was suspended but naturally, these people are now working on other projects and are currently unavailable to spend the time that would be required. However, the 'project memory' will be preserved through frequent contact with these specialists and the expertise that TRACS brings to the project will provide the additional resources and cover needed. Information on TRACS can be obtained from their website, 'www.tracs.com'. PDIP's strategy has been to ensure that plannng and other activities are conducted to the highest standard to maximise the chances of a successful outcome to the project. Although the deal with CIVC only closed on 9th July, 2006, PDIP has worked diligently to achieve early production at the site and an aggressive schedule has been established even though difficulties in accessing data from previous operations have been experienced; these difficulties are slowly being overcome. .