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Gold/Mining/Energy : Ivanhoe Energy Inc - (IE)
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To: Winzer who wrote (3)9/27/1999 12:44:00 PM
From: Spiney  Read Replies (1) of 33
 
Ivanhoe Energy to participate in Lucky Dog prospect

Ivanhoe Energy Inc IE
Shares issued 89,727,767 1999-08-17 close $4.55
Wednesday Aug 18 1999
Mr. David Martin reports
Ivanhoe Energy has disclosed its 12.5-per-cent participation in the Lucky Dog No. 1 exploration well, which is scheduled to be drilled later this year. The Lucky Dog prospect is between South Belridge and Cal Canal oilfields in the southern San Joaquin Valley, Calif. The southern San Joaquin Valley is one of the most prolific oil regions in the United States.
The Lucky Dog prospect will be a deep well targeting temblor sands below 17,000 feet. The temblor formation is a widely-producing oil and gas formation in the San Joaquin Valley and is the target formation being drilled at Berkley Petroleum Corp.'s Bellevue well, 17 miles to the northeast and the Cal Canal well currently being drilled two miles to the northeast of the Lucky Dog prospect.
The Lucky Dog prospect is the first in a series of wells in which Ivanhoe Energy will participate in the San Joaquin Valley.

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Winzer...
90 million shares out - the stock hasn't been moving based on California alone has it? It's had quite a move over the past 6 months! Are they loaded up with cash?
What's your take on the company and the current price?
Has it gotten ahead of itself?

regards,
spiney
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