CALGARY, Nov. 20, 2014 /PRNewswire/ - Ivanhoe Energy
Inc. (TSX: IE; NASDAQ: IVAN) today announced the appointment of
Randolph Thornton to the company's
Board of Directors.
Mr. Thornton is President and Chief Executive Officer of
Comdisco Holding Company, Inc. He also is non-executive Chairman
and a member of the board of both Core-Mark International and
National Energy & Gas Transmission. He served as Managing
Director and a Senior Credit Officer of Citigroup where he worked
for 34 years; the last 20 years as a senior executive in its
corporate restructuring practice.
Mr. Thornton graduated from Lafayette
College in 1967 with a B.A. in History and earned an MBA in
Finance at Columbia Business School in
1971. He previously served in Vietnam as a US Army 1st Lieutenant, receiving
two bronze stars with the 9th Infantry Division.
"Ivanhoe Energy welcomes Mr. Thornton to the board. His skill
set and experience are assets to the company during this critical
period of building and sustaining value for shareholders," said
Carlos Cabrera, Executive
Chairman.
Ivanhoe Energy is an independent international heavy oil
exploration and development company focused on pursuing long-term
growth in its reserves and production using advanced technologies,
including its proprietary heavy oil upgrading process
(HTL®). Core operations are in Canada, the United
States and Ecuador, with
business development opportunities worldwide. Ivanhoe Energy trades
on the Toronto Stock Exchange with the ticker symbol IE and on the
NASDAQ Capital Market with the ticker symbol IVAN. For more
information about Ivanhoe Energy Inc. please visit
www.ivanhoeenergy.com.
FORWARD-LOOKING STATEMENTS: This document
includes forward-looking statements, including forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to the potential for commercialization and future
application of the heavy oil upgrading technology and other
technologies, statements relating to the continued advancement of
Ivanhoe Energy's projects, statements relating to the timing and
amount of proceeds of agreed upon and contemplated disposition
transactions, statements relating to anticipated capital
expenditures, statements relating to the timing and success of
regulatory review applications, and other statements which are not
historical facts. When used in this document, the words such as
"could," "plan," "estimate," "expect," "intend," "may,"
"potential," "should," and similar expressions relating to matters
that are not historical facts are forward-looking statements.
Although Ivanhoe Energy believes that its expectations reflected in
these forward-looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that
actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to
differ from these forward-looking statements include the potential
that the Company's projects will experience technological and
mechanical problems, new product development will not proceed as
planned, the HTL® technology to upgrade bitumen and
heavy oil may not be commercially viable, geological conditions in
reservoirs may not result in commercial levels of oil and gas
production, the availability of drilling rigs and other support
services, uncertainties about the estimates of reserves, the risk
associated with doing business in foreign countries, environmental
risks, changes in product prices, our ability to raise capital as
and when required, our ability to complete agreed upon and planned
asset dispositions, competition and other risks disclosed in
Ivanhoe Energy's 2013 Annual Report on Form 10-K filed with the
U.S. Securities and Exchange Commission on EDGAR and the Canadian
Securities Commissions on SEDAR.
SOURCE Ivanhoe Energy Inc.