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Gold/Mining/Energy : Canadian Imperial Ventures Corp.
TK 9.1750.0%Dec 29 3:59 PM EST
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To: Buckey who wrote (132)10/5/1999 10:24:00 PM
From: Mr. Oil  Read Replies (1) of 139
 
I thought those numbers were a little out of the norm for a venture company. These guys are new to this so I will allow them a little growing pains. I say 'Let the market determine the real value of the project by giving it the real news.'

This NR tells us more of the farm in conditions and who is funding how much and to gain how much. The royalty of 10% to Hunt/PanCanadian is nice to know too. I thought they should have told us that.

If Canadian Imperial complies with the above provisions, it will earn a
100-per-cent working interest in the well bore and production therefrom
subject to a 10-per-cent gross royalty payable to Hunt and PanCanadian. If
Canadian Imperial elects to drill a new well on the development lands
(including a directional well from the existing well bore), the company
will pay 100 per cent of the cost of the well to earn a 50-per-cent working
interest in the development lands. Subsequent developments in the pool will
be on a 50 to 50 working interest basis between Canadian Imperial and
Hunt/PanCanadian.
Outside of the development lands, Canadian Imperial has an option, until
Feb. 1, 2000, to commit to drill an exploratory well at their sole cost to
earn a 60-per-cent working interest in the remainder of the permit.

A little rap on the nuckles for giving out the market cap range. "We don't do that boys so take that back!" And they did. You know the saying. Better to ask for forgiveness that permission. Now what does the market think of this. We shall see tomorrow I suspect. I hope this NR was approved by the VSE. I don't want another halt tomorrow.

Ray
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