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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3333)	7/8/2004 7:39:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Ivanhoe Energy Inc. - China oil development program on schedule New wells contribute to rising oil production VANCOUVER, July 8 /PRNewswire-FirstCall/ - David R. Martin, Chairman of Ivanhoe Energy (NASDAQ:IVAN and TSX:IE), announced today the latest developments on its oil and gas production and drilling activities in China. Highlights include: - Three new wells have been brought into production as part of the current Dagang development drilling program, which is making good progress and remains on schedule to attain a production target of 2,500 barrels of oil per day by the end of 2004. - Oil production from the Dagang Oil Project was sold at an average price of US$33.08 per barrel during June. - Extensive seismic work has been completed in preparation for an initial drilling program to begin this year on the Zitong Gas Project in the gas-rich Sichuan Basin. Dagang Oil Project ------------------ prnewswire.com