Ivanhoe Energy (IVAN) Says No Material Events Tied to Recent Stock Price Drop

July 2, 2012 8:48 AM EDT
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Ivanhoe Energy Inc. (Nasdaq: IVAN) knows of no reason for the decrease in the Company's share price late in the trading session on June 29, 2012. There have been no material adverse developments or circumstances with respect to the Company's activities that would explain this sudden drop. Management continues to make steady progress on all of the Company's business initiatives, which will build the foundation for future growth.

The Ivanhoe Energy executive management team have maintained their shareholdings and will increase them over time. This team is committed to the Company's success and remains optimistic that 2012 will see significant progress in many of its projects.

"Our management team remains confident in our ability to grow this Company," said Carlos A. Cabrera, Ivanhoe Energy's Executive Chairman. "Despite the volatility in a number of the financial markets, we are focused and working as a team to deliver results from our world-class assets."

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