Ivanhoe Energy Inc. announced that following a thorough review the Company has suspended activity on its current Tamarack oil sands project.

Ivanhoe's decision is based on the uncertainty that there is no timeline defined by the Alberta Energy Regulator (AER) for a new regulatory framework for shallow SAGD projects, and that there is no clarity as to a path for approval for its Tamarack application. Until there is greater regulatory certainty as to a path to approval, Ivanhoe will limit Tamarack spending to only essential items.

Tags: Ivanhoe Energy Inc.