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.WS

News

[HARJAY]

I sthis a goos thing or bad ?

 

Globe/DJ say Ivanhoe, Petroamazonas end contract

2014-08-26 05:51 ET - In the News

 

The Globe and Mail reports in its Tuesday edition that Ecuador's Petroamazonas and Ivanhoe Energy are mutually terminating a contract signed at Block 20, located in the Amazon basin. A Dow Jones dispatch to The Globe reports that Ecuador's minister of non-renewable natural resources, Pedro Merizalde, said Monday the government is in talks with China National Petroleum to develop the block. Mr. Merizalde said: "They are interested. According to the current law we can negotiate directly. ... There haven't been any negotiations yet, we've only had talks." The government plans to start formal negotiations soon. In 2008, Ecuador and Ivanhoe signed a 30-year service contract to develop the block. The contract included construction of a plant to upgrade the heavy oil using HTL technology. The cost of the plant was expected to be between $450-million and $500-million. On Monday Ivanhoe said it has technical information showing the need for additional exploration work in the block, which is not allowed under the contract with Ecuador. The minister did not rule out that Ivanhoe may be interested in a joint venture with CNPC, "but that decision is exclusively from Ivanhoe."

[labumba]

Check the following link for detail of the article : https://www.firstenercastfinancial.com/news/story/59162-ecuador-ivanhoe-energy-end-contract-oil-block-20 ---------------------------------------------------------------- Main point : ivanhoe so far has invested 74 millions on Block 20 and withhold lots of important information for the property developement.   This condition is extremely

[rad10]

https://www.newswire.ca/en/story/1403170/ivanhoe-energy-confirms-its-intention-to-fully-participate-in-new-services-contract-for-development-of-block-20-project-in-ecuador Seems like they are very much a part of the program.  It would be nice to see something in writing though.