Canadian Imperial Venture V.CQV.H

drilling contract announced

[Hubbie]

-------------------------------------------------------------------------------- Related Quotes CQV.V CQV.V 0.80 0.80 -0.01 -0.01 delayed 20 mins - disclaimer Quote Data provided by Reuters Tuesday October 23, 10:11 am Eastern Time Press Release SOURCE: Canadian Imperial Venture Corp. Canadian Imperial Venture Corp. awards drilling contract for its Harry's River property in western Newfoundland Trading Symbol: CDNX:CQV ST. JOHN'S, NF, Oct. 23 /CNW/ - Canadian Imperial Venture Corp. ("Canadian Imperial") of St. John's, Newfoundland is pleased to announce that Lantech Drilling Services Inc. of Dieppe, New Brunswick has been awarded a contract to provide a drilling rig and drilling services for the Indian Head No. 1 well at Canadian Imperial's Harry's River property in western Newfoundland. Lantech Drilling Services have been in the slim hole drilling business since 1990 and have drilled in Nova Scotia and New Brunswick for Shell Canada and Columbia Natural Resources. Canadian Imperial is targeting to commence drilling operations at this site November 15, 2001. The planned maximum depth of the well is 2000 meters. Canadian Imperial Venture Corp. (CDNX:CQV - news) is an independent Newfoundland- based energy company with interests in petroleum exploration and production in Western Newfoundland. CANADIAN IMPERIAL VENTURE CORP. By: "Kirby Mercer" ----------------- Kirby C. Mercer Vice President The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.