Past year: ▲ 6%(1.10c – 5.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
2 June 2015bankruptcy or receivership▼ BadMajor
Ivanhoe and its creditors failed to agree on a viable restructuring proposal by the extended deadline. Under the Bankruptcy and Insolvency Act the company was automatically deemed bankrupt as of 11:59pm on June 1, 2015.
6 May 2015bankruptcy or receivership▼ BadMajor
The court granted Ivanhoe a one-month extension, to June 1, 2015, to file its formal restructuring proposal, and the company's CFO announced his resignation effective the end of May.
20 Mar 2015listing compliance notice● NeutralMajor
IVANHOE ENERGY INC's exchange filed to remove a class of its securities from listing.
12 Mar 2015bankruptcy or receivership▼ BadMajor
An Alberta court approved US$1M in debtor-in-possession financing from Robert Friedland to fund the company through restructuring, lifting his total secured loans to US$6.11M and adding priority charges for professional fees and director indemnities ahead of unsecured creditors.
26 Feb 2015bankruptcy or receivership▼ BadMajor
Ivanhoe filed a Notice of Intention to Make a Proposal under Canada's Bankruptcy and Insolvency Act, entering formal creditor-protection restructuring with Ernst & Young as trustee. NASDAQ responded the same day by moving to delist the stock.
18 Feb 2015debt financing▼ BadMajor
Robert Friedland provided yet another secured bridge loan, US$2.37M, taking his total secured lending to the company to US$5.11M. The cash was earmarked for mandatory Ecuador severance obligations and to pay down overdue trade payables owed to Friedland's own affiliated companies.
13 Feb 2015debt default or forbearance▼ BadMajor
Ivanhoe missed the December 31, 2014 interest payment on its Cdn$73.3M of 5.75% convertible debentures, and after the 30-day grace period lapsed, trustee Bank of New York Mellon formally declared an Event of Default and demanded immediate payment of the roughly Cdn$2.1M owed.
11 Feb 2015listing compliance notice▼ BadMajor
Ivanhoe fell out of compliance with a separate NASDAQ rule requiring a three-member independent audit committee after director Robert Pirraglia resigned, adding a second, unrelated listing deficiency on top of the ongoing bid-price problem.
10 Feb 2015material agreement termination▼ BadMajor
Ivanhoe and Ecuador's state oil successor Petroamazonas mutually terminated the Block 20/Pungarayacu service contract that had anchored the company's Ecuador heavy-oil ambitions since 2008, following a January announcement that Ivanhoe was scaling back Ecuador activity amid collapsing oil prices and stalled partner talks.
20 Jan 2015listing compliance notice▼ BadMajor
NASDAQ issued a third minimum-bid-price deficiency notice, giving Ivanhoe until July 2015 to regain compliance - a deadline the company would not reach, having by then filed for bankruptcy protection.
5 Jan 2015debt financing▼ BadMajor
Robert Friedland extended a further US$540,000 secured bridge loan, taking his total secured loans to the company to US$2.74M, as Ivanhoe's working-capital needs kept growing.
15 Oct 2014debt financing▼ BadMajor
Founder and Executive Co-Chairman Robert Friedland provided Ivanhoe a US$2.2M secured bridge loan against nearly all company assets and resigned from the board the same day to avoid a conflict of interest as the company's largest shareholder, a convertible-debt holder and now also its secured lender - the first of a series of insider loans that would fund the company through its final year.
12 Sept 2013listing compliance notice▼ BadMajor
Ivanhoe again fell short of NASDAQ's $1.00 minimum bid price requirement, a second deficiency notice roughly 16 months after its first, underscoring sustained share-price weakness even after the roughly US$150M raised from exiting China.
28 Dec 2012asset acquisition disposition▲ GoodMajor
Ten days after selling Dagang, Ivanhoe also closed the Zitong sale to Shell for about US$105M, completing a full exit from China and bringing in roughly US$150M combined from the two deals to fund its oil sands and Ecuador heavy-oil ambitions.
18 Dec 2012asset acquisition disposition● NeutralMajor
Ivanhoe completed the sale of Pan-China/Dagang to MIE Holdings for US$45M less a US$4M holdback, exiting the China oilfield project that had been its founding asset since 2004.
26 Nov 2012material agreement● NeutralMajor
Ivanhoe agreed to sell Pan-China Resources - the subsidiary holding its original Dagang oilfield project, the asset that had anchored the company since 2004 - to MIE Holdings for US$45M cash.
18 Oct 2012material agreement● NeutralMajor
Ivanhoe signed a definitive agreement to sell its Zitong China interest to Shell for a reduced US$105M (US$85M cost reimbursement plus US$20M on closing), down from the up-to-US$160M outlined in January's MOU.
31 May 2012listing compliance notice▼ BadMajor
Ivanhoe received its first NASDAQ notice for falling below the $1.00 minimum bid price, with 180 days (to November 2012) to regain compliance. The stock kept trading on the Toronto Stock Exchange, which has no such rule.
20 Mar 2012material agreement▼ BadMajor
Ivanhoe took out a US$50M short-term secured loan from UBS at a steep 9-10%+ interest rate that climbed further each month, pledging its Tamarack oil sands leases as collateral - an early sign of tightening liquidity years before the 2015 collapse.
18 Jan 2012material agreement▲ GoodMajor
Ivanhoe agreed in principle to sell its entire Zitong interest in China to Shell for up to US$160M, the first step toward monetizing its Sichuan gas project.
6 Jan 2012material agreement● Neutral
Ivanhoe's Sunwing unit extended its Zitong exploration contract in China's Sichuan Basin by three years to mid-2014 and posted a US$20M performance bond to CNPC and partner Mitsubishi Gas Chemical.
15 June 2011capital raising announcement● NeutralMajor
Ivanhoe closed the 5.75% convertible debenture offering, raising just over Cdn$73M in total, including more than Cdn$23M placed privately with its own directors, officers and insiders.
1 June 2011material agreement● NeutralMajor
Ivanhoe agreed to sell US$50M of 5.75% convertible debentures due 2016, using the proceeds mainly to repay a US$40M convertible note owed to Talisman Energy - the same debentures whose missed interest payment would trigger default in 2015.
29 Jan 2010capital raising announcement▲ GoodMajor
Ivanhoe raised up to Cdn$150M (including the underwriters' over-allotment) in its largest special-warrant placement to date, at Cdn$3.00 per warrant.
23 July 2009asset acquisition disposition● NeutralMajor
Completed the sale of Ivanhoe Energy (USA) - all of its United States exploration and production, being California and Texas production and infrastructure plus additional California exploration acreage - to Seneca Resources and Seneca South Midway for $39,200,000, keeping cash, certain receivables and the Bakersfield office.
14 Oct 2008material agreement▲ GoodMajor
Ivanhoe's Ecuadorian subsidiary signed a 30-year service contract with state oil company Petroecuador to develop Block 20's Pungarayacu heavy-oil field using Ivanhoe's HTL upgrading technology - the project that would become the company's flagship growth bet.
29 Sept 2008listing compliance notice▼ Bad
IVANHOE ENERGY INC withdrew a registration statement, abandoning the offering it covered.
17 July 2008asset acquisition disposition● NeutralMajor
Ivanhoe completed the Talisman oil sands lease purchase, taking 100% of Leases 10 and 6 near Fort McMurray. It lost the third lease, Lease 50, after a third party exercised its right of first refusal.
14 July 2008capital raising announcement▲ GoodMajor
Ivanhoe closed a Cdn$88M special-warrant placement, largely to fund its pending purchase of Talisman's oil sands leases.
4 June 2008material agreement▲ GoodMajor
Ivanhoe agreed to buy Talisman Energy's interests in three Athabasca oil sands leases for about Cdn$105M, its first major move into Canadian oil sands alongside its China and Ecuador heavy-oil projects.
