CALGARY, March 15 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) is pleased to announce that Standard and Poor's (S&P) has added the company to the S&P/TSX Composite Index as a result of the Quarterly S&P/TSX Composite Index Review. Ivanhoe's inclusion in the index is effective with the opening of trading on March 22, 2010.
Listed securities eligible for inclusion in the index must meet certain criteria which are primarily based on a company's market capitalization and the liquidity of its stock relative to other stocks in the index and Ivanhoe Energy has met all of the criteria.
"We are extremely pleased to be added to the S&P/TSX Composite Index," said Robert Friedland, Co-Chairman, President and Chief Executive Officer. "This inclusion highlights the tremendous progress and growth the company has achieved in a very short period of time. We look forward to the positive effects this will have on our share price and the increased interest in Ivanhoe from the investment community."
The S&P/TSX Composite Index is the headline index in Canada and premier indicator of performance for Canadian equity markets.
Ivanhoe Energy Inc. 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, patented heavy-oil upgrading process (HTL(TM)). Core operations are in Canada, Ecuador, China and Mongolia, with business development opportunities worldwide. Ivanhoe Energy's shares trade on the NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto Stock Exchange under the symbol IE.
For more information about Ivanhoe Energy Inc. please visit our web site at 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. When used in this document, words such as "could", "plan", "expect", "estimate", "anticipate", "intend", "may", "potential", "should", and similar expressions relating to matters that are not historical facts are forward-looking statements. Although the Company believes 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 possibility that the Company will be unable to raise financing and other risks disclosed in Ivanhoe Energy's 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: For further information: David Dyck: (403) 817-1138; Ian Barnett: (647) 203-6588; Dorreen Miller: (403) 817-1108; firstname.lastname@example.org