Last Updated :
14 May 2009 at 01:00 IST
Ivanhoe Energy Q1 slips stock
Commodity Online
Ivanhoe Energy Inc. (TSE:IE) has announced its Q1 2009 Financial & Operating results with total revenues of $2.1 million and loss per share of $0.04.
Ivanhoe Energy Inc. is a Vancouver based independent international heavy oil development and production company.
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IE oil and gas production during Q1 2009 increased 8% while oil and gas revenues decreased to $7.7 million for Q1 down 41% from Q4 2008 on account of low benchmark oil prices globally.
Cash Flow from operations for Q1 2009 was negative $4.1 million against $9.7 million in Q4 2008 whereas cash and cash equivalents at March 31, 2009 stood at $28.4 million.
Ivanhoe Energy Inc. however lost 1.01% at Toronto Stock Exchange on Tuesday and it was last traded at 1.96. It touched a 52-week high of 4.04 and low of 0.39.
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