RE: RE: holding steadyIE has become top heavy company while share holders are suffering.
???what you mean?
the news we are awaiting?(biggest of all)imho is a partner to exploit these projects .a partner with deep pockets willing to put up plenty of $$$ to finance the costs of the projects in canada and ecuador and future projects as well that have not been inked yet
most likely this partner will be a co. from china or japan
https://event.on24.com/eventRegistration/EventLobbyServlet?target=lobby.jsp&eventid=122520&sessionid=1&key=88CA190D4EF68BE917317355A66FE6E7&eventuserid=19964626
ROBERT FRIEDLAND:
Thank you, Dave.
I thought maybe we would make a few comments regarding our partnership discussions. We've all been involved in these things and spending a lot of time traveling around the world. Given what our listeners have heard on this call, there will be no surprise that Ivanhoe Energy Ecuador and Ivanhoe Energy Latin America have been approached by numerous of the world's leading oil companies, including a number of the top Asian oil companies?state-owned, regarding long term strategic alliances for the development of Block 20. Obviously Asian companies have a keen interest, because once we're on the Pacific Ocean, this all goes straight across to Asian consumers.
I can tell you that numerous detailed discussions are now under way. Ivanhoe welcomes the interest we've been shown by these leading Asian oil and gas firms and we?re in the process of pursuing these discussions in detail. These discussions will of course also include Petroecuador, who will have the right to approve any partner Ivanhoe proposes to bring into the project.
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CHRIS FELTIN, ANALYST, TRISTONE CAPITAL:
Hi, good afternoon, gentlemen - just a quick question, I guess. When you're looking at the partners, just wondering if, based on the negotiations you have, what's the expected timeline for potentially securing partners on Block 20?
And then a quick second question that I had would be - sounds like you guys have a free option if you find light oil on the block to develop that. Just wondering what the agreement looks like, or if there's been one determined with Petroecuador, in terms of what the pricing would be for that part of the project.
ROBERT FRIEDLAND:
Let's break that in half - the first half of that question?
CHRIS FELTIN:
?which is the timing of securing potential partners - on Block 20?
ROBERT FRIEDLAND:
Well, we?ve intensified these discussions with a number of partners, with the public announcement. A number of the potential partners were aware of our discussions and there was significant competition and detailed discussions leading to our agreements. So, during the six-month period, when we are working on initial environmental permitting, we are quite likely to have selected a long term strategic partner and it could come much, much quicker than that.
CHRIS FELTIN:
Okay.
ROBERT FRIEDLAND:
We're working on it now, and, in fact, most of our management team will be in Asia in less than a week from today in further detailed discussions.
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