CALGARY, Sept. 22, 2014 /CNW/ - Ivanhoe Energy Inc.
(TSX: IE; NASDAQ: IVAN) today announced the appointment of
Blair Vago as the company's Acting
Vice President of Finance and Chief Financial Officer. Mr.
Vago, Ivanhoe Energy's Divisional Controller in Ecuador, will assume the duties of Vice
President of Finance and Chief Financial Officer (CFO) from
Greg Phaneuf, whose resignation from
the position takes effect on October 10,
2014.
Mr. Vago is a licensed Certified Public Accountant
(California) with more than 30
years of experience in finance and accounting. He also has
extensive experience in cross-border transactions, merger
integration and doing business in Latin
America. He has a strong technical understanding of
International Financial Reporting Standards (IFRS), U.S. Generally
Accepted Accounting Principles (GAAP) and Canadian GAAP.
Mr. Vago's fluency in English and Spanish, and his first-hand
experience working with Ivanhoe Energy in Ecuador for the past four years will be very
important assets as the company works to deliver its plan and build
value for all of Ivanhoe's
stakeholders.
Mr. Vago has a Masters of Professional Studies (concentration in
accounting, finance and hotel management) from Cornell University, Ithaca, NY, and a Bachelor of Arts from
State University of New York,
Binghamton, NY.
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.