Ivanhoe Capital Acquisition Corp. Warrants each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per... IVAN

News Release

[Tradesman]

Well, I must be clairvoyant or something. No sooner did I mention "News Release" and there it is. I don't expect this will move the stock significantly, since this is just a follow-up on the previous announcement. However, it looks like Ivanhoe is progressing steadily with their plans for HTL and I would rate this as an important step in the preparations for global deployment. NEWS RELEASE: Wednesday, November 15, 2006 AMEC To Do Engineering For Ivanhoe's Heavy Oil Upgrading Technology AMEC has signed an agreement with Ivanhoe Energy to do project management and engineering for Ivanhoe's patented heavy oil upgrading technology, called "HTL," on a global basis. AMEC has been working with Ivanhoe on various projects for a number of years, including this new venture. Among the claimed advantages of Ivanhoe's heavy oil development technology is that it dramatically reduces the viscosity of the upgraded product, allowing it to be transported by pipeline without the need for blend oils. As well, it produces large amounts of by-product energy as an on-site source for the production of steam and/or power for extracting the oil. There are large basins of heavy oil around the world, but the resources have not been developed, because the oil is often difficult to transport or expensive to upgrade. Neil Bruce, AMEC's Chief Operation officer of natural resources said: "We believe that there is considerable potential in the commercialization of the process. AMEC welcomes the opportunity to continue and further assist Ivanhoe Energy in the development and ultimate deployment of the technology.