Canadian Imperial Venture Corp. announced the following update provided by Shoal Point Energy Ltd. Shoal Point Energy Ltd. announced positive test results and that the exceptional permeability, relatively high porosity, and extensive fracturing of the formation indicate that it should respond well to stimulation. The results continue to validate the play, and SPE expects that its future testing will confirm the Green Point shale as a major petroleum resource. Recent Results of Testing Shoal Point Energy Ltd. reported that it had completed testing operations on two test intervals in the 3K39 well at Shoal Point on the Port au Port Peninsula, western Newfoundland. DST #2: The first test, designated "DST #2", was designed by the Company`s consultants, NuTech Energy Alliance, of Houston, as an "Injection Test" or "Extended Leakoff Test" to measure engineering parameters for planning future stimulation of the Green Point shale reservoir, and not to flow-test the reservoir. This test involved the injection of fluid into the formation over a perforated 15 metre interval (1411-1426 metres) and monitoring of the rate at which the fluid was absorbed into the formation, from which two important parameters - permeability and pore pressure - could be measured directly. This test was completed over a period of 14 days and is considered a highly accurate, industry-standard measurement of these parameters. Permeability over this interval was measured at 20.74 microdarcies (for a 40 degree API crude), and pore pressure at 0.49 psi/foot. The Company and NuTech consider these results to be very encouraging for future development of the Green Point shale play under a full stimulation scenario. DST #3 occurred over the interval 1250 - 1350 metres which was perforated and swabbed through several cycles to measure inflow. Although good volumes of invaded drilling mud was recovered at the beginning of each swabbing period, returns declined toward the end of each period, and no free formation fluid inflow was recovered. However, indications of hydrocarbon inflow were seen in swab volumes, although these were not able to be directly measured. Considering the significantly higher than average permeabilities measured in the injection test, and numerous and diverse indications of hydrocarbons seen while drilling this section in the spring and summer of 2011, the Company believes that severe invasion and borehole skin damage has precluded the recovery of hydrocarbons from the formation at this time. This situation has been exacerbated because of (1) the length of time the borehole was open to the drilling fluid, and (2) the extent of pervasive natural fractures that have been studied from core, samples and the field, and which have been noted in earlier releases. However, in the long run, the good permeability and porosity should increase the economic returns achieved with stimulation.