CALGARY
,
Nov. 13
/CNW/ -
Robert Friedland
, Executive Co-Chairman, President and CEO of Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN), today announced the appointment of Gerald (Jerry) Schiefelbein as Chief Financial Officer of Ivanhoe Energy Inc. to succeed retiring Chief Financial Officer
Gordon Lancaster
.
Mr. Lancaster
is retiring after six years as Ivanhoe Energy's CFO, completing a very successful career as a senior financial executive and chartered accountant with public and private firms in Western
Canada
.
"We are extremely pleased that Jerry has agreed to assume Gordon's role as Ivanhoe Energy enters a dynamic phase of international growth,"
Mr. Friedland
said.
"Jerry brings to Ivanhoe Energy 23 years of finance experience in the international oil and gas industry, having worked in
North America
,
Europe
and the
Middle East
with the BP Group and Amoco. His extensive international experience is an excellent match with our own profile as we proceed with the execution of our international development plans for HTL heavy oil and other oil and gas projects."
Immediately prior to joining Ivanhoe Energy,
Mr. Schiefelbein
was Chief Financial Officer with Chicago-based BP Integrated Supply & Trading, where he led the finance department for BP's crude and oil-products supply and trading operations in the Americas. He received an undergraduate degree in business from the University of Wisconsin at Madison and his Masters in Management from the Kellogg Graduate School of Management at Northwestern University, in Illinois.
With
Mr. Schiefelbein
's appointment, the office of the Chief Financial Officer will be relocated to
Calgary
, Alberta, adding impetus to the company's focus on
Calgary
as a key management centre supporting business units within the Ivanhoe Energy group of companies. Also based in
Calgary
are
David Dyck
, the newly appointed President and Chief Executive Officer of Ivanhoe Energy
Canada
Inc., members of the Alberta Tamarack Project development team and members of the senior management team for Sunwing Energy Inc., Ivanhoe Energy's Asia subsidiary. The
Calgary
operations centre is complemented by the company's HTL technology centre in
Houston
, Texas, the operations offices in
Quito
,
Ecuador
, and the support offices in Bakersfield, California;
Beijing
,
China
;
Vancouver
,
Canada
; and
London
, England.
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 (HTL). Core operations are in
Canada
,
Ecuador
and
China
, with business development opportunities worldwide. Ivanhoe Energy trades on the NASDAQ Capital Market with the ticker symbol IVAN and on the
Toronto
Stock Exchange with the symbol IE.
For further information: For further information: Investors Contact: Ian Barnett, (416) 792-3308; Bill Trenaman (604) 688-8323; Media Contact: Bob Williamson, (604) 331-9880, Website: www.ivanhoeenergy.com
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