Canadian Imperial Venture V.CQV.H

RE: MENTION OF THE INCREASE OF BILLIONS OLD NEWS

[myamigo]

Thanks ford

I contacted VOCM and asked about the source of this informaiton.

    This storycame from an interview performed by Terry Hart with Gerard Edwards.

I was curious to know where the 88 - 218 billion figure came from and thought that the NR from April 20 might be helpful.  That release indicates:

    Executive Summary: 2K-39 and M-16

· Shoal Point 2K-39 well, Green Point Formation petrophysics (NuTech)

Oil-in-place: 380 million barrels per section (sq. mile)/ 593 thousand barrels per acre

· Long Point M-16 well, Green Point Formation petrophysics (NuTech)

Oil-in-place: 930 million barrels per section/ 1.454 million barrels per acre

The range of in-place oil at existing sites is 593,000 - 1,454,000 barrels/acre. This is a ratio of 593 / 1454 = 40.8%

The ratio of the range suggested by Edwards in the interview with VOCM is 88 / 218 = 40.4% which agrees quite well (pun intended) so it looks like they're extrapolating from the existing sites to estimate what is available in new areas they've acquired an interest in. This probably includes the 67,284 acre "Farmout Lands" on EL1120 as noted in their April 13 NR. Applying the 593k - 1454k range to this area translates to 40 - 98 billion barrels of oil. It doesn't  explain the whole 88 - 218 range that Edwards has suggested but it gets you quite a way there.

Comments welcome.