Canadian Imperial Venture V.CQV.H

RE: Possible future drilling

[Barrhead]

I really doubt if CIVC drilled a second or third well at PaP they would reap 100% profit. It is my understanding that PDIP now have that lease at Garden Hill. IMO The same would apply at Shoal Point, as they are in for 22% and that is where it stands unless they change the agreement to share drilling costs and that could alter the return rate, much like many other wells that are drilled. Each well can have a different shared cost or pay out after drilling costs are covered.

It is my understanding that the present Nabors 45E capacity can drill about 4900 metes (16,000 feet), although it can be beefed up to change it a couple of hundred meters, although it might be cheaper to bring in a bigger rig for a longer reach.  The Rig 45 E could do the shorter reach well(s) and the bigger one cover all the longer reach wells. The recent CIVC NR indicates that 100,000 acres are accesible from land and this could prove up a lot of additional reservoir and provide a lot of production.

Regardzzz..............................Barrhead