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Gold/Mining/Energy : Black Sea Energy (BSX) -- Ignore unavailable to you. Want to Upgrade?

To: ForYourEyesOnly who wrote (159)	7/6/1999 12:56:00 PM
From: Winzer	Read Replies (1) \| Respond to of 180

Black Sea is Toast, I'll use the PR that follows to start up an Ivanhoe thread. Ivanhoe completes merger; board appointments Ivanhoe Energy Inc IE Shares issued 89,727,767 Jul 5 close $2.25 Tue 6 Jul 99 News Release Mr. David Martin reports The company has now received the final court and regulatory approvals of the merger of Black Sea Energy and Sunwing Energy. As announced in Stockwatch July 2, 1999, Black Sea Energy has changed its name to Ivanhoe Energy Inc. and the operations of Black Sea Energy and Sunwing Energy have been integrated into a unified organization that will concentrate on Ivanhoe Energy's priority oil and gas projects in California and China. The new Ivanhoe Energy board includes directors that have accumulated a total of more than 100 years of experience in senior management with some of the world's largest oil companies. The board consists of David Martin (chairman), Robert Friedland (deputy chairman), Leon Daniel (president and chief executive officer), John Carver and Ed Flood. Additional appointments are expected in the coming months, further adding to the company's breadth of international energy industry experience. Mr. Martin also announced that Peter Meredith has begun duties as the company's chief financial officer, and that Pat Chua, Gerry Moench and Gerry Burrows have become appointed executive vice-presidents. To facilitate the appointment of the new board members, Mr. Meredith, Mr. Burrows, Clint Hussin, Matthew Lechtzier and Beverly Downing have resigned from the board. Mr. Hussin also resigned from his position as executive vice-president. Mr. Martin praised the contributions made by the outgoing board members in positioning the company with great prospects in some of the world's premier oil-producing regions. Ivanhoe Energy's shares are now trading on the Toronto Stock Exchange under its new symbol - IE. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Winzer