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Heavy-to-Light (HTL (TM)) patent protection solidified to 2028

March 28, 2011

Broad fundamental process patent issued in the USA for Heavy-to-Light Technology

CALGARY, March 28 /PRNewswire/ – Robert Friedland, Executive Co-Chairman and
Chief Executive Officer and David Dyck, President and Chief Operating
Officer of Ivanhoe Energy Inc. (TSX: IE) (NASDAQ: IVAN), today
announced that a new patent has been successfully issued that broadens
and extends Ivanhoe Energy’s intellectual property related to its HTL(TM) (“Heavy-to-Light”) heavy oil upgrading technology.

The new patent was issued in the United States in the name of Ivanhoe
Energy’s technology partner, Ensyn Corporation, and relates to Ensyn’s
RTP(TM) (“Rapid Thermal Processing”), the core technology underlying the
HTL process. The United States is an anchor jurisdiction in Ensyn and
Ivanhoe Energy’s patent strategy, and successful issuance in the United
States is a powerful precedent for successful issuance in additional
key jurisdictions. Ivanhoe Energy acquired the rights to the RTP
process in 2005 and rebranded the petroleum application as “HTL”, or
“Heavy-to-Light”. The new patent covers Ivanhoe Energy’s HTL process as
well as Ensyn’s RTP applications related to renewable fuels and
chemicals. The new patent expires in 2028.

Heavy oil production and processing is a cornerstone and primary focus
of Ivanhoe Energy and HTL heavy oil upgrading is a key competitive
advantage of Ivanhoe Energy’s heavy oil business plan worldwide.
Currently, Ivanhoe Energy’s heavy oil asset portfolio includes the
40,000 barrels per day Tamarack Project in Western Canada and the
Pungarayacu Project in Ecuador which contains externally verified
Original Oil in Place (classified as “undiscovered resources” under the
COGE Handbook) of between 4 billion and 12 billion barrels. Ivanhoe
Energy’s business plan also includes expansion opportunities related to
integrated HTL upstream heavy oil in Canada and internationally, as
well as HTL midstream opportunities worldwide. This new patent
fortifies and extends the life of Ivanhoe Energy’s HTL technology
advantage in the heavy oil industry.

“This new patent is a welcome addition to the existing patent portfolio
protecting our HTL intellectual property”, said Dr. Mike Silverman,
Executive Vice President and Chief Technology Officer of Ivanhoe
Energy. “These include patents issued in the name of Ensyn, like this
new patent, as well as patents related specifically to HTL heavy oil
upgrading and which have been issued directly in the name of Ivanhoe
Energy”.

Dr. Robert Graham, Ensyn Corporation’s Chief Executive Officer said
“This is a broad, important patent for both Ivanhoe Energy and for
Ensyn. We look forward to working with Mike Silverman and his
technology group in the continued addition of patent protection as we
advance the application of this technology in our respective
industries”.

Ivanhoe Energy Inc. is an independent, international heavy oil
development and production company focused on pursuing long-term growth
in its reserves and production using advanced technologies, including
its proprietary, patented heavy to light upgrading process (HTL(TM)). Core
operations are in Canada, Ecuador, China and Mongolia, with business
development opportunities worldwide. Ivanhoe’s shares trade on the
NASDAQ Capital Market with the ticker symbol IVAN and on the Toronto
Stock Exchange under the symbol IE.

For more information about Ivanhoe Energy Inc. please visit our web site
at www.ivanhoeenergy.com.

FORWARD-LOOKING STATEMENTS: This document includes forward-looking
statements, including forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to, statements which are not
historical facts. When used in this document, the words such as
“could,” “plan,” “estimate,” “expect,” “intend,” “may,” “potential,”
“should,” and similar expressions relating to matters that are not
historical facts are forward-looking statements. Although Ivanhoe
Energy believes that its expectations reflected in these
forward-looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual
results will be consistent with these forward-looking statements.
Important factors that could cause actual results to differ from these
forward-looking statements include risks disclosed in Ivanhoe Energy’s
Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission on EDGAR and the Canadian Securities Commissions on SEDAR.

SOURCE Ivanhoe Energy Inc.


Source: newswire



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