Plans moving ahead for oil well on Shoal Point in western Newfoundland

Staff ~ The Telegram
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Canadian Imperial Venture Corp. announced today that scientific and technical work for its proposed drilling program in Port-au-Port Bay in western Newfoundland was completed during the first quarter of this year.
According to a news release, the company says the initial well will be drilled from the tip of Shoal Point to a subsurface target under Port-au-Port Bay. The planned total depth of the new well, designated Shoal Point 3K-39, is 2,200 metres measured depth (1,460m subsea) and the objective of the well is to test the thick oilbearing section in the Green Point shale which was encountered in the 2K-39 well, drilled in 2008.
The company's partners in the play are Shoal Point Energy Limited and McLaren Resources Ltd.

Organizations: Imperial Venture, Shoal Point Energy Limited and McLaren Resources

Geographic location: Shoal Point, Newfoundland, Green Point

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