Canadian oil and gas company Ivanhoe Energy flagged "going concern" doubts on Friday and said it was exploring a sale of the company. The company said it could default on an interest payment of about C$2.1 million ($1.8 million) due on Dec. 31.Ivanhoe said that apart from a sale of the company, it was looking at options including the sale of a portion of its assets, recapitalization, debt restructuring or a combination of these, to repay debt and fund operations.The company, which operates in Canada, the United States and Ecuador, said it was uncertain if it could raise additional financing.Ivanhoe had $61.3 million in long-term debt and $357,000 in cash and cash equivalents as of Sept. 30. ($1 = C$1.16)
Ivanhoe Energy Inc. (Ivanhoe) is an independent international heavy oil development and production company. Shares of IE traded higher by 2.02% or $0.02/share to $1.01. In the past year, the shares have traded as low as $0.90 and as high as $6.09. On average, 37860 shares of IE.TO exchange hands on a given day and today's volume is recorded at 35998.
Ivanhoe Energy Inc. (Ivanhoe) is an independent international heavy oil development and production company. Shares of IVAN remained unchanged at $0.85. In the past year, the shares have traded as low as $0.75 and as high as $5.53. On average, 174188 shares of IVAN exchange hands on a given day and today's volume is recorded at 0.
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