RE: webacast does he slip up or misspeak? This is off the company web site about they and partners are building the very first HTL plant in Ecuador.
The contract has three phases. The first two phases are for appraisal and evaluation of the field's production capability and the crude-oil characteristics, as well as for the construction of the first HTL plant. The third phase is for full field development and will include drilling additional exploration and development wells. Additional HTL capacity will be added as necessary for expected production.
The first phase, the Appraisal Phase, is expected to include the drilling of a limited number of wells to more fully understand the characteristics of the oil and the reservoir and a seismic acquisition program. The necessary environmental permits to carry out this initial drilling program were obtained at the end of May 2009.
Ivanhoe Energy Ecuador also is undertaking an in-depth community relations program with the indigenous and local populations in Block 20. For more information see Stakeholder Relations - Ecuador.
https://www.ivanhoeenergy.com/index.php?page=ecuador_-_pungarayacu_development_schedule