CALGARY, July 17, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) today provided brief commentary on its business affairs and a response to the recent trading activity in its share price.
The company is not aware of any specific factors, other than what has been previously disclosed in its public filings or news releases, which would result in the recent decrease in the share price.
In terms of project updates, the potential joint venture in Ecuador, while delayed, remains a key focus for all parties involved. The timeline for completion has been longer than what Ivanhoe originally envisioned, but we hope to have clarity as to project advancement over the coming weeks. Recent delays have been related to issues beyond the control of Ivanhoe.
Efforts regarding HTL commercialization continue to advance on all fronts. These efforts include discussions with certain parties in Colombia,Venezuela and other parts of Latin America, and Canada. The company remains keenly focused on delivering on the value potential of the partial upgrading technology.
The company is also considering a number of options to enhance its corporate treasury to fit its current expense structure. The company is cognisant of its funding needs and continues to implement cost-reduction initiatives.
Further announcements on all fronts are anticipated over the coming weeks and months.