This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ivanhoe Energy Receives Completeness Determination On Tamarack Regulatory Application

Stocks in this article: IVAN

Winter Data Acquisition Program Initiated

CALGARY, Jan. 28, 2013 /PRNewswire/ - Ivanhoe Energy (TSX: IE; NASDAQ: IVAN) announced today that Alberta Environment and Sustainable Resource Development (AESRD) finalized its review of the Tamarack Environmental Impact Assessment (EIA) and deemed it complete, pursuant to Section 53 of the Environmental Protection and Enhancement Act (EPEA).

Ivanhoe Energy's Tamarack project is one of two key heavy oil assets in its current portfolio. Achieving regulatory approval for the Tamarack project is a critical step in achieving the Company's business plans.

The regulatory review process for Tamarack began in the fourth quarter of 2010 and the receipt of this completeness determination marks a major milestone in the process. "We are pleased that AESRD has completed its review of our Environmental Impact Assessment and that it, and the other government departments it represents, will have no further Supplemental Information Requests," said Ed Veith, Senior Vice President, Canadian Projects.

The Company is currently in discussions with local stakeholders to resolve identified issues.  Successful completion of these discussions, followed by an Order in Council from the Government of Alberta, positions the Company to move forward with the implementation phase of the Tamarack project. The company anticipates completing these remaining milestones near the end of the first quarter 2013.

To maintain Tamarack's implementation timeline a winter data acquisition program is underway.  This program will provide valuable seismic and drilling information to assist in the optimal placement of Steam Assisted Gravity Drainage (SAGD) well pairs. 

The Company intends to install its proprietary Heavy-to-Light (HTL) process as part of the Tamarack project to enhance overall project economics, create operating efficiencies and produce a synthetic crude oil that is easily transported in pipelines and avoids costly and volatile heavy oil discounts.     

Ivanhoe Energy is also currently engaged in activities to commercialize the HTL technology, and to finalize a partner for Block 20 in Ecuador.  The Company anticipates progress on both fronts in the coming months.






1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs