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News Breaks
December 6, 2012
08:09 EDTIVANIvanhoe Energy receives Ministry of Commerce approval to transfer Zitong block
Ivanhoe Energy announced that its wholly owned subsidiary, Sunwing Zitong Energy, has received approval from the Ministry of Commerce of the People's Republic of China to transfer its participating interest in the Contract for Exploration, Development and Production in the Zitong Block, Sichuan Basin, to Shell China Exploration and Production. The Ministry's approval was received on November 28, setting the stage for the Company to increase its pre-tax working capital by $105M.
News For IVAN From The Last 14 Days
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December 12, 2014
07:31 EDTIVANIvanhoe Energy engaged in process with advisors to address capital structure
Ivanhoe Energy announced that the company's board has been engaged in a process with its financial advisors to devise and implement a strategy to address Ivanhoe's liquidity, funding requirements and capital structure. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the company's current debt structure and obtaining additional financing necessary to fund ongoing operations. The alternatives under discussion and review include the sale of all or a portion of the company's assets, recapitalization, debt restructuring or a combination of the foregoing. The company also announced that it does not expect to make the cash interest payment of approximately $1.8M due on December 31, 2014 in respect of its outstanding 5.75% convertible unsecured subordinated debentures. As previously disclosed in the company's Form 10-Q Interim Report for the period ended September 30, 2014, material uncertainty exists as to the company's ability to access additional financing. Without timely access to additional financing, there is significant doubt as to the company's ability to continue as a going concern.

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