In early February, Ivanhoe Energy Inc. (NASDAQ: IVAN) announced its most successful test run at its California processing facility. Ivanhoe Energy's proprietary technology upgrades the quality of heavy oil and bitumen by producing lighter, more valuable crude oil at lower costs. The findings from the latest run may indicate that the company has indeed found a simple and cost effect alternative for the processing of some of the more challenging heavy crudes. What also is intriguing is that the most recent run was observed by a representative from one of several international oil companies that are currently assessing the technology and are in strategic discussions with Ivanhoe Energy. Today's move can be attributed to speculation that these discussions have made some headway. Investors should also take note that more is probably in the works regarding potential advancements to Ivanhoe's technology, as the company promised it would issue updates once data from the run was sufficiently analyzed. This could provide the impetus for further upside. The stock is currently higher by $.28, or 16.28%, to $2.00 on extremely heavy volume of 7.8 million shares compared to average daily volume of just 1.6 million shares. Ivanhoe investor relations spokesperson Cindy Burnett could not be reached for comment at the time of publication.
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