Agoracom: Small Cap Investment - Canadian Imperial Venture

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Wilfred

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Re: Wifred

posted on Jul 21, 2008 08:09AM

That was exactly what I was asking myself too. What if we have more than 1 billion barrels?

I put you another note that was published in June 2007. Steve cited Talisman coming directly from his mouth:

06/04/2007	Canadian Imperial Venture could be a potential target, CEO says mergermarket
Story	Canadian Imperial Venture, a listed, Canadian junior oil and gas developer, could be a potential target in 12 months if production reaches significant levels, said CEO Steven Millan. Canadian Imperial Venture has onshore and offshore properties in western Newfoundland, none of which is currently in production. It will begin drilling this fall at its offshore Shoal Point play, which Millan said could potentially produce anywhere from 100 million to 600 million barrels of oil. The company has farmed out production to Shoal Point Energy, a privately held, Calgary-based company, and maintains a 12% interest in future revenues. ?That would attract some big players,? said Millan, who is 70. ?There are a number of companies whose profile would fit if this play came alive.? Millan cited Canada?s Talisman Energy as a potential bidder because it has experience with similar geology in New York State, Ontario, and Quebec. Western Newfoundland?s resource potential is attracting greater interest, he added, pointing to an international oil and gas conference being held there this week. Canadian Imperial Venture would also consider small acquisitions in the future, said Millan. ?You can either grow by doing your own thing or acquiring someone else?s thing or merging,? he said. ?We?re prepared to do either of those.? The company recently completed the CAD 20m acquisition of USG Energy, an oil and gas exploration company based in Western Canada. The transaction gives Canadian Imperial Venture exploration rights on 50 square miles of land in Alberta, and it expects to begin natural gas production next year. Based in St John?s, Newfoundland, Canadian Imperial Venture trades on the TSX Venture Exchange and currently has a market cap of USD 14.2m.
Source	mergermarket
Value	14m (company market cap)
Stake Value	more than 30% inclusive