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News Releases
News Releases are added to our web site immediately upon release to the general public. If you would like to receive news releases and company updates via e-mail, please fill out the form found in the Request More Information section.| May 10, 2005 Ivanhoe Energy First Quarter Results and Production Update | |||||
| VANCOUVER, CANADA - Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE, IE.U) today filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2005. "We continue to grow our company and this quarter marks five consecutive quarters of positive cash flow from operations, before changes in non-cash working capital(1)," said David Martin, Ivanhoe Energy's Chairman. "Our most significant activities in the quarter were related to the merger with Ensyn Group, Inc., which gives Ivanhoe Energy full and exclusive rights to deploy the proprietary RTP(tm) upgrading technology for the development of heavy oil deposits. We paid $10 million in cash and issued 30 million Ivanhoe Energy common shares in exchange for all of the outstanding Ensyn common shares. The transaction was completed on April 15. We are actively pursuing opportunities for the commercial deployment of the technology in the U.S., Canada and several other countries around the world." View Complete News Release in PDF Format: | |||||
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