1106935--3/16/2009--IVANHOE_ENERGY

related topics

{gas, price, oil}

{property, intellectual, protect}

{loss, insurance, financial}

{cost, contract, operation}

{interest, director, officer}

{cost, regulation, environmental}

{personnel, key, retain}

{stock, price, operating}

{customer, product, revenue}

{product, market, service}

{provision, law, control}

We might not successfully commercialize our technology, and commercial-scale HTL plants based on our technology may never be successfully constructed or operated. Our efforts to commercialize our HTL Technology may give rise to claims of infringement upon the patents or proprietary rights of others Technological advances could significantly decrease the cost of upgrading heavy oil and, if we are unable to adopt or incorporate technological advances into our operations, our HTL Technology could become uncompetitive or obsolete. The development of alternate sources of energy could lower the demand for our HTL The volatility of oil prices may affect our financial results. Lower oil prices could negatively impact our ability to borrow. We may be required to take write-downs if oil prices decline, our estimated development costs increase or our exploration results deteriorate. Our ability to sell assets and replace revenues generated from any sale of our existing properties depends upon market conditions and numerous uncertainties. Our heavy oil project in Canada may be exposed to title risks and aboriginal claims. Our investment in Ecuador may be at risk if the agreement through which we hold our interest in the Block 20 project is challenged or cannot be enforced. Estimates of proved reserves and future net revenue may change if the assumptions on which such estimates are based prove to be inaccurate. No reserves have yet been established in respect of our HTL projects in Canada and Ecuador. Information in this document regarding our future plans reflects our current intent and is subject to change. Our business may be harmed if we are unable to retain our interests in licenses, leases and production sharing contracts. We may incur significant costs on exploration or development efforts which may prove unsuccessful or unprofitable. Our business involves many operating risks that can cause substantial losses; insurance may not protect us against all these risks. Changes to laws, regulations and government policies in Canada or Ecuador could adversely affect our ability to develop our HTL Complying with environmental and other government regulations could be costly and could negatively impact our production. We compete for oil and gas properties with many other exploration and development companies throughout the world who have access to greater resources. Our principal shareholder may significantly influence our business. If we lose our key management and technical personnel, our business may suffer

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1106935--3/16/2009--IVANHOE_ENERGY_INC