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Ivanhoe disputes baseless allegations in lawsuit filed over Ecuador oilfield development contract


Published Nov 26, 2008
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Ivanhoe Energy agrees to sell interest in LAK Ranch Project-Spotlight

David Martin, Chairman and CEO of Ivanhoe Energy Latin America Inc., has said that allegations reportedly contained in a recently filed lawsuit that seeks to contest a contract awarded to Ivanhoe Energy Ecuador Inc. to develop Ecuador's Pungarayacu heavy-oil field are false and totally without merit.

Mr. Martin said that Ivanhoe Energy will vigorously protect the interests of the company and its shareholders in any court proceeding. Mr. Martin noted that one of the principal litigants, Jack Grynberg, of Colorado, has a history of filing lawsuits as part of his business activities.

Tags: Ivanhoe Energy Inc.



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