Management Committed to Deliver on Priorities
CALGARY, July 2, 2012 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ:
IVAN) announced today that it knows of no reason for the decrease in
the Company's share price late in the trading session on June 29,
2012. There have been no material adverse developments or
circumstances with respect to the Company's activities that would
explain this sudden drop. Management continues to make steady progress
on all of the Company's business initiatives, which will build the
foundation for future growth.
The Ivanhoe Energy executive management team have maintained their
shareholdings and will increase them over time. This team is committed
to the Company's success and remains optimistic that 2012 will see
significant progress in many of its projects.
"Our management team remains confident in our ability to grow this
Company," said Carlos A. Cabrera, Ivanhoe Energy's Executive Chairman.
"Despite the volatility in a number of the financial markets, we are
focused and working as a team to deliver results from our world-class
Ivanhoe Energy is an independent international heavy oil development and
production company focused on pursuing long-term growth in its reserves
and production using advanced technologies, including its proprietary
heavy oil upgrading process (HTLTM). Core operations are in Canada, United States, Ecuador, Mongolia, and
China, with business development opportunities worldwide. Ivanhoe
Energy trades on The Toronto Stock Exchange with the symbol IE and on
the NASDAQ Capital Market with the ticker symbol IVAN.
For more information about Ivanhoe Energy please visit www.ivanhoeenergy.com.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements, including
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include, but
are not limited to, statements related to the completion of this
transaction, receipt of required waivers and approvals, satisfaction of
conditions to closing and timing thereof, the execution of a definitive
PSA and timing thereof, the statements relating to Ivanhoe Energy's
strategy, the continued advancement of its projects and realization of
the value of its assets and commercialization of its technology, and
the pursuit of other transactions and initiatives and the manner in
which this transaction will benefit the core business, the ability to
have the security posted by Ivanhoe Energy for the performance bond
released at closing and other statements which are not historical
facts. When used in this document, the words such as "could," "plan,"
"estimate," "expect," "intend," "may," "potential," "should," and
similar expressions relating to matters that are not historical facts
are forward-looking statements. Although Ivanhoe Energy believes that
its expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with
these forward-looking statements. Important factors that could cause
actual results to differ from these forward-looking statements include
the ability to obtain all required approvals, consents and waivers from
the government and third parties and the timing thereof, the risk
associated with doing business in foreign countries and other risks
disclosed in Ivanhoe Energy's 2011 Annual Report on Form 10-K filed
with the U.S. Securities and Exchange Commission on EDGAR and the
Canadian Securities Commissions on SEDAR.
SOURCE Ivanhoe Energy Inc.
For further information:
Manager, Corporate Communications
1 (403) 817 1108