In December Ivanhoe Energy Inc. completed two Chinese assets sales to help reduce debt. In addition to strengthening the balance sheet, the sales were a part of a strategy to focus the company's attention on developing heavy oil projects in Canada and Ecuador as well as advancing its proprietary heavy-to-light (HTL) oil upgrading technology. Ivanhoe co-chair Robert Friedland was buying Ivanhoe Energy shares late last fall. This week he was buying again. On Jan. 23 he picked up 2.2 million shares at 90 cents.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
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