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

To: Winzer who wrote (162)	8/9/1999 10:33:00 AM
From: Winzer	Read Replies (1) \| Respond to of 180

Ron, Shhhhhhh. I'm not talking, just posting. IE Hit $4.15 this AM. Ivanhoe Energy names Shun-ichi Shimizu to board Ivanhoe Energy Inc IE Shares issued 89,727,767 Aug 6 close $3.40 Mon 9 Aug 99 News Release Mr. David Martin reports Ivanhoe Energy has appointed Japanese energy executive Shun-ichi Shimizu to the company's board of directors. During a 33-year career in the energy industry, Mr. Shimizu managed many large projects, including international liquid natural gas and oil development projects for Japanese trading company Nissho Iwai Corporation, oil-producing companies and major Japanese electric and gas utility companies. Mr. Shimizu also was the senior representative of Occidental Petroleum's Japanese subsidiary, Occidental of Japan Inc. In his positions with Nissho Iwai and Occidental of Japan, Mr. Shimizu was responsible for the raising of more than $10-billion (U.S.) to finance liquid natural gas projects in Asia and North America, and oil and gas exploration and development projects in Asia and the Middle East. As chief executive officer and managing ddirector of Tokyo-based C.U.E. Management Consulting Ltd., Mr. Shimizu is currently serving as special adviser to corporate and municipal government clients on the planning and financing of urban development, transportation and energy projects. "We are very pleased that Mr. Shimizu has joined our board," Mr. Martin said. "His extensive experience in planning, financing and managing international energy projects will be immensely helpful as Ivanhoe Energy pursues new oil and gas development opportunities in Asia and the Middle East." Ivanhoe Energy and its joint-venture partner, Nippon Oil Exploration Limited, of Japan, began work in July on a pilot program at the 22,400-acre Kongnan project at the Dagang oil field in China. The program will involve the work-over of five of the 26 wells that currently produce oil intermittently, as well as the drilling and testing of five new wells. The development plan for the project estimates production of approximately 36,000 barrels a day by the end of 2003. Nippon recently doubled its participating interest in Kongnan, from 10 per cent to 20 per cent. In California, Ivanhoe Energy is developing deep-gas exploration plays in the oil-rich San Joaquin Valley in a joint venture with Aera Energy LLC. Aera, the largest oil producer in California, has a land portfolio of more than 80,000 acres, including Lost Hills and other major producing oil fields in the San Joaquin Valley. WARNING: The company relies on litigation protection for "forward-looking"