Ivanhoe Energy Appoints Joseph Gasca as CEO

    VANCOUVER, Jan. 31 /CNW/ - Ivanhoe Energy Inc.'s (NASDAQ:   IVAN and
TSX: IE) Board of Directors today announced that Joseph Gasca has been
elevated to the position of President and Chief Executive Officer.
    Mr. Gasca, Ivanhoe Energy's current President and Chief Operating
Officer, joined the company in July 2006 from BG Group in the United Kingdom
where he was General Manager of Operations with global responsibilities for
all of BG Group's businesses, which are located in 20 countries over
five continents.
    In addition to his senior roles at BG Group, Mr. Gasca's 27 years of oil
and gas experience include a 22-year career with Texaco Inc. While at Texaco,
Mr. Gasca held a number of positions, most recently as Vice President of
Commercial Development, where he directed technology development and provided
global technical support to Texaco's upstream organization. While at Texaco he
was also Advisor to the President of the Worldwide Upstream Organization; the
Senior Executive in Scotland managing Texaco's North Sea assets, and he held a
number of leadership and engineering positions in Texas and Louisiana.
    "Joe has confirmed to the board that he is an excellent choice for CEO
and we are pleased to announce our unanimous decision," said Robert Abboud,
Independent Co-Chairman and Lead Director. "After six months with the company
as President and COO, he has gained our confidence that he is the right person
to lead Ivanhoe Energy through the next phase of its growth."
    David Martin, Executive Co-Chairman, added, "We believe that Joe brings
the necessary skills and ability to guide the company as we move towards the
commercialization of our heavy oil upgrading technology. We are looking to him
to focus the company's efforts and align our organization around its
    Joseph Gasca said, "I am excited to lead Ivanhoe Energy at this stage in
its development. Our HTL technology has the potential to vault the company
into a leadership position among heavy oil producers. My vision for the
company is to build a strong and sustainable heavy oil business that is based
on our unique technology. Ivanhoe Energy's state-of-the-art technology,
combined with its very experienced board of directors and management team,
give me the confidence that the HTL technology will be successfully
commercialized and implemented around the world."

    Ivanhoe Energy is an independent international oil and gas 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 the United States 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.

    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 concerning the potential benefits
of Ivanhoe Energy's heavy oil upgrading technology, the potential for
commercialization and future application of the heavy oil upgrading technology
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 potential that the
company's projects will experience technological and mechanical difficulties,
the HTL process to upgrade bitumen and heavy oil may not be commercially
viable, competition, changes in product prices, our ability to raise capital
as and when required 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.

For further information:

For further information: Cindy Burnett, (604) 331-9830, Website:

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