News zu IVAN (erster thread is weg...)

VANCOUVER, Aug 27, 2003 /PRNewswire-FirstCall via COMTEX/ -- Ivanhoe Energy (NASDAQ:IVAN and TSX:IE) has closed two Special Warrant financings for a total of US$9 million (CDN$12.6 million). Proceeds are planned to advance the company's worldwide oil and gas operations, gas-to-liquids initiatives, and for general corporate purposes. This latest financing is in addition to the US$3 million raised in July 2003.

The financings consist of 3.0 million Special Warrants at US$1.00 (CDN$1.40) per Special Warrant and approximately 3.5 million Special Warrants at US$1.70 (CDN$2.38) per Special Warrant. Each Special Warrant entitles the holder to acquire one common share of Ivanhoe and one purchase warrant at no additional cost, at any time until the close of business on the fifth business day after the earlier of (i) the date upon which applicable Canadian Provincial securities commissions issue receipts for the company's final prospectus; and (ii) 120 days after the closing of the financing. Two purchase warrants are exercisable to purchase an additional common share at US$1.00 and US$1.70, respectively, until the first anniversary of closing and at US$1.10 and US$1.87, respectively, until the second anniversary of closing. The financings were placed with a single institutional investor.

Neither the Special Warrants nor the common shares and purchase warrants issuable upon the exercise of the Special Warrants have been, nor will be, registered under the United States Securities Act of 1933, as amended nor under the securities laws of any U.S. state. These securities may not be offered or sold in the United States unless registered under the Securities Act of 1933 or an exemption from registration is available.

Ivanhoe Energy's mission is to create value for its shareholders and host countries, initially by focusing on: (1) production of cleaner burning fuels from natural gas, using proven gas-to-liquids (GTL) technology; (2) conventional exploration and production (E&P), primarily natural gas in the U.S.; and (3) enhanced oil recovery (EOR) and natural gas projects, on a production-sharing basis with national petroleum companies.

Ivanhoe Energy trades on the NASDAQ SmallCap market with the ticker symbol IVAN and on the Toronto Stock Exchange with the symbol IE.

FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of Ivanhoe Energy's oil and gas drilling programs. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "plan" "should," and similar expressions are intended to be among the statements that identify forward-looking statements. Although Ivanhoe Energy believes that their 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 Ivanhoe's oil and gas drilling will experience technological and mechanical problems, fluctuations in oil and gas prices, the ability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.

SOURCE Ivanhoe Energy Inc.

John MacDonald, Vice President, Investor        Relations, Ivanhoe Energy, (281) 565-7486;        To request a free copy of this organization's annual report, please go to        http://www.newswire.ca and click on reports@cnw.        (IE. IVAN)        

Copyright (C) 2003 PR Newswire. All rights reserved.