Canadian Imperial Venture V.CQV.H

Garden hill north

[osmosis]

All of the reserves that have been mentioned so far have been concerning garden hill south and possibly part of garden hill central that was taken in by the seismic. No one is talking about garden hill north which is a totally separate structure and has been labeled by some in the know as a "formidable beast" because it has the potential to be much larger than garden hill south. If you are doubtful about any of this it's well worth a phone call to CQV tomorrow. the number is 709-739-6700. Now my predictions. I believe that we will witness the start of a major exploration effort in western NF before the end of this year. I also think that the next news to be released is that Hunt is returning to go into a partnership with CQV on the port-au-port peninsula with a drill program that will include step out wells from garden hill #1 and maybe even garden hill north. The seismic showed much that was unknown about the geology of the area and the chances of hitting huge pools of oil have greatly increased with the new knowledge. Some of you who are very familiar with oil and geology should call and talk with Steve Millan. One thing you will notice is that they are extremely upbeat about all this. We'll see what happens but I think we'll get the news sooner rather than later.