Shorts drove down IVAN in 2009 to record low before merger. After merger stock price rose to over $70.00 back in 2009 - 2010
The company now in 2014 is once again facing problems from operation and recently being reinstated on the Nasdaq for minimum bid and the list goes on in the companies financials.
Is history repeating once again for Ivanhoe Energy. Why the sudden pop in the market?
Stock pops over 106% in one day last Friday yet all the investing public gets from the company officials " they are scratching their heads" as no material change other then the last news release about the Block 20 pending deal is still in the works and CNOC is reviewing their operations? why would CNOC be reviewing anything.. or are they doing a company audit to see the value of the company for a merger deal offer with Ivanhoe Energy to create a stronger company that will put the HTL hard to work in China while it has been brushed off my major oil companies it seems in Ivanhoe's own back yard. One thing the Chinese are good at is finding things that work well and replicating them making billions of dollars from that forsight while North America and Europe passed up opportunities and to regret it later. History could very well be in the making here for Ivanhoe in my honest opinion. The new deal could be " The New Company to come" China could make that happen for them. Pan Asian Petroleum was a Mongolian Chinese company.
It is all in the story provided below.
Dated November 18, 2009.. check out the stock chart as well.. stock was at a complete low for that period and then after merger shot up to well over $60.00 Even with post splits over the years we could very well see a stock in the range of over $20 on any merger deal news.
Ivanhoe Energy needs the Chinese as much as they need Ivanhoe to process the heavy oils now being found around the globe in their operations.
Do your own due diligence and i think the market will decide this one is a big winner if in fact any merger deal does break out in the news for Ivanhoe with the Chinese to buy them out for larger intrest in work contracts of Block 20 Ecuador. Time tells all but this time it seems the way out for Ivanhoe Energy to get back on the right track again.
For every Seller last Friday their was a Buyer but how much went to who and why? the sudden take off in the share price?
Story of merger deal of November 18, 2009
Ivanhoe Energy announces completion of merger transaction with PanAsian Petroleum
Ivanhoe Energy subsidiary Sunwing Energy to develop Block XVI in central Mongolia in a major expansion of Asia-focused interests
ULAANBAATAR, Mongolia, Nov. 30 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) announced today that the merger between PanAsian Petroleum Inc. and an Ivanhoe Energy subsidiary has been completed. This merger, announced on November 18, 2009, provides Ivanhoe Energy with the exclusive right to explore, develop and produce oil or gas within Block XVI in Mongolia's Nyalga Basin.
Ivanhoe Energy intends to combine the Block XVI development rights with Sunwing Energy Ltd., Ivanhoe's 100%-owned subsidiary for oil and gas operations in Asia.
Block XVI covers 16,839 square kilometres and is located approximately 100 kilometres southeast of the capital of Mongolia, Ulaanbaatar. The Trans-Mongolian Railway, linking railway networks and markets in Russia, to the north, and China, to the south, runs through the western end of Block XVI, closely following Mongolia's main north-south highway. The target on Block XVI is light oil, consistent with discoveries by Petrochina and Sinopec in Mongolia and other similar discoveries in China's adjacent Inner Mongolia region.
Block XVI was partially explored in the 1950s by Russian interests and was included in a regional appraisal conducted by BP International for the Mongolian Government in 1990. This work demonstrated that Nyalga has hydrocarbons and the potential to become a significant oil producer. The Russian drilling program reportedly encountered oil shows in 20 of approximately 40 wells drilled to depths of 700 to 1,800 metres; one well flowed oil. The 1990 BP appraisal of central Mongolia's hydrocarbon potential concluded that the Nyalga Basin had the best potential for an active petroleum system among the sites evaluated in the region. In addition, Block XVI contains a large, visible, surface bitumen deposit that is evidence of hydrocarbon generation and migration and requires further evaluation.
Exploration to date has established that the Nyalga Basin possesses many of the characteristics of interior rift basins that produce light oil in Mongolia, east and south of Nyalga, and in northern China. These include: Petrochina's Tamsag project in eastern Mongolia; Sinopec's Zuunbayan project in southeastern Mongolia; and a 980-million-barrel discovery of light, sweet crude oil in the Bameng region of China's Inner Mongolia, announced by a Sinopec subsidiary last August.
The transaction with PanAsian Petroleum resulted in Ivanhoe Energy issuing 2,683,291 common shares in exchange for all of the issued and outstanding common shares of PanAsian. In addition, existing stock-purchase warrants in PanAsian were rolled-over into 735,449 Ivanhoe Energy purchase warrants that entitle the holders to purchase Ivanhoe Energy common shares at C$4.05 for a period of approximately 18 months.
Further details of the transaction are available in Ivanhoe Energy's November 18 news release (
https://www.ivanhoe-energy.com/i/pdf/2009-11-18_NR.pdf) and November 19 conference call presentation available through the link posted on the home page of the company's website (www.ivanhoe-energy.com/s/Home.asp).
Sunwing Energy Ltd.
Sunwing Energy is Ivanhoe's 100%-owned subsidiary for oil and gas operations in Asia. Sunwing has a 15-year history of oil and gas exploration and production in China and has signed three production-sharing agreements with Petrochina. Sunwing currently produces approximately 1,800 barrels of light oil per day in Dagang, in China's Hebei province, in a production-sharing agreement with Petrochina in which Sunwing is the operator. In addition, Sunwing is the operator in a 650,000-acre gas exploration block in Zitong, Sichuan Province, with its 10% partner, Mitsubishi Gas Chemical Company.
Sichuan is the oldest and one of the most prolific gas producing regions of China. Sunwing plans to begin drilling in its Zitong Block in Sichuan province in the first quarter of 2010, targeting the Xu2 formation in the Guan structure, the largest structure on the block. This well will take up to six months to drill and test, and will include a 750-metre horizontal section.
Sinopec and Petrochina have made significant discoveries of gas from the Xu2 formation in blocks adjacent to Sunwing's Zitong Block. Any gas produced in Zitong will be able to be fed directly into an existing regional gathering and sales distribution system.
The addition of Block XVI in Mongolia to Sunwing's portfolio of projects will build critical mass as Sunwing considers a listing on a major Asian stock exchange.
Ivanhoe Energy Inc.
Ivanhoe Energy is an international oil and gas company focussed on a) heavy-oil development and production opportunities worldwide; and b) oil and gas exploration and development projects in Asia. Ivanhoe Energy uses technologically innovative methods to significantly improve the development of heavy oil and other oil and gas assets, including the application of its patented HTL (heavy-to-light) heavy-oil upgrading process. Core operations are in Canada, Ecuador, China and Mongolia. Ivanhoe Energy trades on the NASDAQ Capital Market, with the ticker symbol IVAN, and on the Toronto Stock Exchange with the symbol IE.