so jetzt sind wir wieder an der "magischen" 3 US Dollar Marke.
aktuell + 22 %
auf 2,93 US Dollar
News Releases - Thursday, October 07, 2004
Title: Ivanhoe Energy`s Dagang Oil Project in China Posts Record Oil Sales and Volume
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VANCOUVER, CANADA -- Ivanhoe Energy`s (NASDAQ: IVAN and TSX: IE) Dagang Oil Project in China has set two sales records as part of the project`s planned development program:
• The Dagang operation posted gross oil sales of US$1.2 million for August, recording its first million-dollar month in oil sales.
• In addition, cumulative oil sales from the Dagang project topped the one-million-barrel mark during the last week of September. Dagang`s production now is averaging 1,650 barrels of oil per day.
To date, the company has drilled 18 wells and re-entered six existing wells at the Dagang project, 125 miles (200 km) southeast of Beijing. Sixteen wells are producers, three are injectors, three are awaiting completion and two are awaiting further evaluation. Three drilling rigs are currently in operation.
Ivanhoe Energy receives a trailing average price for its Dagang production, based on Cinta crude oil prices. The price of Cinta crude oil has historically averaged approximately US$2.00 per barrel less than the price of West Texas Intermediate (WTI) crude oil. Ivanhoe has a 60% interest in the Dagang project; its partner, China International Trust & Investment Corporation (CITIC), has a 40% interest. The Dagang Oil Project is being developed under a 30-year production-sharing contract with PetroChina Company Limited.
Ivanhoe Energy trades on the NASDAQ SmallCap market with the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.
Information contacts:
In North America: Investors: Cindy Burnett 604-688-8323/Media: Bob Williamson 604-688-8323
In Asia: Patrick Chua 86-1370-121-2607 / 852-9193-4056
Website: www.ivanhoe-energy.com
RESERVES DATA AND OTHER OIL AND GAS INFORMATION: Ivanhoe`s disclosure of reserves data and other oil and gas information is made in reliance on an exemption granted to Ivanhoe by Canadian securities regulatory authorities, which permits Ivanhoe to provide disclosure in accordance with US disclosure requirements.
The information provided by Ivanhoe may differ from the corresponding information prepared in accordance with Canadian disclosure standards under National Instrument 51-101 (NI 51-101). Further information about the differences between the US requirements and the NI 51-101 requirements is set forth under the heading "Reserves, Production and Related Information" in Ivanhoe`s Annual Report on Form 10-K.
José
