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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
 FORM 10-K/A (Mark One)þ
    
    Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.For the fiscal year ended December 31, 2004.or
    
    Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.o
    
    For the transition period from _________ to _________.Commission file number 000-30586
 IVANHOE ENERGY INC. (Exact name of registrant as specified in its charter)
 Yukon, Canada(State or other jurisdiction of
incorporation or organization) 98- 0372413(I.R.S. Employer
Identification No.) 654  999 Canada Place
Vancouver, British Columbia, Canada
V6C 3E1(Address of principal executive offices) (604) 688-8323(Registrants telephone number, including area code) Securities to be registered pursuant to Section 12(b) of the Act: None Securities registered or to be registered pursuant to Section 12(g) of the Act: Title of each class
    
    Name of each exchange on which registeredCommon Shares, no par value
    
    Toronto Stock ExchangeNASDAQ SmallCap Market
 Indicate by check mark whether the registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes þ No o Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is
not contained herein, and will not be contained, to the best of registrants knowledge, in
definitive proxy or information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. þ Indicate by check mark whether the registrant is an accelerated filer as defined in Rule 12b-2 of
the Act. Yes þ No o As at April 29, 2005, 199,902,299 common shares of the Registrant were issued and outstanding. The
aggregate market value of the voting stock held by non-affiliates of the Registrant on June 30,
2004 based on the closing price on the NASDAQ SmallCap Market on that date, was $369,335,406. Documents incorporated by reference: None




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Explanatory Note On November 30, 2004, the U.S. Securities and Exchange Commission (the Commission) issued an
exemptive order, applicable to certain accelerated filers, providing a 45-day extension for the
filing of managements annual report on internal control over financial reporting and the
attestation report of the independent registered chartered accountants. We elected to utilize this
extension period. Therefore, Ivanhoe Energy Inc. (the Company) hereby amends its Annual Report on
Form 10-K, filed on March 10, 2005, to include Managements Annual Report on Internal Control over
Financial Reporting and the Report of Independent Registered Chartered Accountants required in Item
9A Controls and Procedures. As set forth in guidance issued by the Commissions Division of
Corporation Finance, this Form 10-K/A contains all of the information required by Item 9A of Form
10-K, the certifications required by Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act
of 1934 (the Exchange Act). ITEM 9A. CONTROLS AND PROCEDURES Disclosure Controls and Procedures The Companys management, including our Chief Executive Officer and Chief Financial Officer,
evaluated the effectiveness of the design and operation of the Companys disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) as of December 31, 2004. Based
upon this evaluation, management concluded that these controls and procedures were (1) designed to
ensure that material information relating the Company is made known to the Companys Chief
Executive Officer and Chief Financial Officer and (2) effective, in that they provide reasonable
assurance that information required to be disclosed by the Company in the reports that it files or
submits under the Securities Exchange Act is recorded, processed, summarized and reported within
the time periods specified in the SECs rules and forms. In its design and evaluation of these disclosure controls and procedures, management recognizes
that any controls and procedures, no matter how well designed and operated, can provide only
reasonable assurance of achieving the desired control objectives, and management necessarily was
required to apply its judgment in evaluating the cost-benefit relationship of possible controls and
procedures. Also, projections of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of change in conditions or that the degree of
compliance with the policies or procedures may deteriorate. Managements Annual Report on Internal Control Over Financial Reporting Management of the Company is responsible for establishing and maintaining adequate internal control
over financial reporting as such term is defined under Rule 13a-15(f) under the Securities Exchange
Act of 1934. Our management, including our Chief Executive Officer and Chief Financial Officer,
carried out an evaluation of the effectiveness of the design and operation of our internal control
over financial reporting pursuant to the requirements of the Securities Exchange Act of 1934.
Internal control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and preparation of financial statements for
external reporting purposes in accordance with generally accepted accounting principles. In making
this assessment, our management followed the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control  Integrated Framework. A material weakness is a control deficiency or a combination of control deficiencies that result in
a more than remote likelihood that a material misstatement of our annual or interim financial
statements will not be prevented or detected. We identified two material weaknesses in our
assessment of internal control over financial reporting as of December 31, 2004. These two material
weaknesses are described below. Although neither material weakness resulted in any adjustments to
the annual or interim consolidated financial statements, each of these material weaknesses could
result in a material misstatement of annual or interim consolidated financial statements that would
not be prevented or detected. Accordingly, management has determined that each of these
deficiencies constitutes a material weakness. 1. Information and Communication Information systems produce reports, containing operational, financial and compliance-related
information, that make it possible to run and control the business. Pertinent information must be
identified, captured, and communicated in an effective manner to enable employees to carry out
their responsibilities. These information systems deal not only with internally generated data, but
also with the information about external events necessary to informed business decision-making and
external reporting, such as industry, economic, and regulatory information. Effective communication
also must occur in a broader sense, flowing down, across, and up the organization. Our review of our information and communication procedures identified certain deficiencies. Taken
together, the following deficiencies are considered to constitute a material weakness in internal
control over financial reporting.




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

a weakness in the procedure for the receipt of complaints regarding accounting,
internal control over financial reporting, or auditing matters.  

Section 301 of the Sarbanes-Oxley Act of 2002 requires our Audit
Committee to establish procedures for the confidential, anonymous submission by
employees . . . regarding questionable accounting or auditing matters. Our
previous complaint procedure, applicable to both employees and third parties,
directed complaints to our Corporate Secretary, who then advised the appropriate
board committee or management member. We do not believe that this procedure
provided the requisite anonymity to a reporting employee or third party. As a
result, prior to March 31, 2005, we engaged an independent firm to handle all
complaints, whether from employees or third parties with respect to concerns
regarding accounting or auditing matters and any perceived violations of our Code
of Business Conduct and Ethics. By means of a secure website or telephone all
issues raised will be automatically directed to the Chairman of our Audit
Committee who will have primary responsibility for responding to and pursuing all
reported matters.  

a lack of a formal process to ensure active ongoing communication of employees roles
and responsibilities related to internal control over financial reporting across the
organization.  

Although the importance of the safeguarding of our assets and the
honest and accurate recording of information are key parts of our Code of Business
Conduct and Ethics, we have not formally reviewed these processes with our
employees on a regular basis. As part of our new complaint process noted above, we
have formally communicated the roles and responsibilities related to internal
control over financial reporting to all employees.  

a lack of an ongoing formal self-assessment process related to internal control over
financial reporting.  

As part of our responsibilities under Section 404 of the
Sarbanes-Oxley Act of 2002, there will be an annual and extensive formal review
related to internal control over financial reporting.  

our previous fraud or misconduct response plans and policies were informal and did
not provide a written and clear process for employees and external third parties to follow
if they wished to report an issue, including inappropriate management overrides.  

Prior to March 31, 2005, we engaged an independent firm to handle all
complaints, whether from employees or third parties with respect to concerns
regarding accounting or auditing matters and any perceived violations of our Code
of Business Conduct and Ethics, including inappropriate management overrides. By
means of a secure website or telephone, all issues raised will be automatically
directed to the Chairman of our Audit Committee who will have primary
responsibility for responding to and pursuing all reported matters. 2. Financial Reporting Process Our review of our financial reporting process identified several deficiencies, principally related
to the lack of formal processes, division of duties and procedures for documentation of various
approvals and reviews. Taken together, these deficiencies are considered to constitute a material
weakness in internal control over financial reporting. Management believes that financial reporting process procedures and reviews were properly carried
out and that the deficiencies identified during the review process relate principally to the lack
of written evidence that procedures and reviews were properly completed. Prior to December 31, 2004
and since that date, we have formalized our financial reporting processes, instituted changes in
the division of financial reporting responsibilities and changed our policies and procedures to
require written documentation of our approvals and reviews in those financial reporting processes
where deficiencies have been identified. * * * Because of the material weaknesses described above, upon completion of managements evaluation of
the Companys internal control over financial reporting, management has concluded that the
Companys internal control over financial reporting as at December 31, 2004 was not effective. Managements assessment of the effectiveness of the Companys internal control over financial
reporting as at December 31, 2004 has been audited by Deloitte & Touche LLP, our independent
registered chartered accountants, as stated in their report included herein, which expresses an
adverse opinion on the effectiveness of the Companys internal control over financial reporting
because of material weaknesses as at December 31, 2004.




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REPORT OF INDEPENDENT REGISTERED CHARTERED ACCOUNTANTS To the Shareholders of
Ivanhoe Energy Inc. We have audited managements assessment, included in the accompanying Managements Annual Report on
Internal Control Over Financial Reporting that Ivanhoe Energy Inc. (the Company) did not maintain
effective internal control over financial reporting as at December 31, 2004, because of the effect
of the material weaknesses identified in managements assessment based on criteria established in
Internal ControlIntegrated Frameworkissued by the Committee of Sponsoring Organizations of the
Treadway Commission. The Companys management is responsible for maintaining effective internal
control over financial reporting and for its assessment of the effectiveness of internal control
over financial reporting. Our responsibility is to express an opinion on managements assessment
and an opinion on the effectiveness of the Companys internal control over financial reporting based on our audit. We conducted our audit in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether effective internal control over financial reporting was
maintained in all material respects. Our audit included obtaining an understanding of internal
control over financial reporting, evaluating managements assessment, testing and evaluating the
design and operating effectiveness of internal control, and performing such other procedures as we
considered necessary in the circumstances. We believe that our audit provides a reasonable basis
for our opinions. A companys internal control over financial reporting is a process designed by, or under the
supervision of, the companys principal executive and principal financial officers, or persons
performing similar functions, and effected by the companys board of directors, management, and
other personnel to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A companys internal control over financial reporting includes
those policies and procedures that (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the
company; (2) provide reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted accounting principles,
and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the
companys assets that could have a material effect on the financial statements. Because of the inherent limitations of internal control over financial reporting, including the
possibility of collusion or improper management override of controls, material misstatements due to
error or fraud may not be prevented or detected on a timely basis. Also, projections of any
evaluation of the effectiveness of the internal control over financial reporting to future periods
are subject to the risk that the controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate. A material weakness is a significant deficiency, or combination of significant deficiencies, that
results in more than a remote likelihood that a material misstatement of the annual or interim
financial statements will not be prevented or detected. The following material weaknesses have been
identified and included in managements assessment:  

Information and Communication a deficiency in the procedure for the receipt of
complaints regarding accounting, internal control over financial reporting, or auditing
matters; a lack of a formal process to ensure active ongoing communication of employees
roles and responsibilities related to internal control over financial reporting across the
organization; a lack of a formal self-assessment process to monitor and detect control
deficiencies related to internal control over financial reporting; previous fraud or
misconduct response plans and policies were informal and did not provide a written and
clear process for employees and external third parties to follow if they wished to report
an issue, including inappropriate management overrides. These deficiencies, when taken
together, constitute a material weakness in internal control over financial reporting.

Financial Reporting Process several deficiencies, principally related to the lack
of formal processes, division of duties and procedures for documentation of various
approvals and reviews. These deficiencies, when taken together, constitute a material
weakness in internal control over financial reporting. These material weaknesses were considered in determining the nature, timing, and extent of audit
tests applied in our audit of the consolidated financial statements as at and for the year ended
December 31, 2004, of the Company and this report does not affect our report on such financial statements.




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In our opinion, managements assessment that the Company did not maintain effective internal
control over financial reporting as at December 31, 2004, is fairly stated, in all material
respects, based on the criteria established in Internal ControlIntegrated Frameworkissued by the
Committee of Sponsoring Organizations of the Treadway Commission. Also in our opinion, because of
the effect of the material weaknesses described above on the achievement of the objectives of the
control criteria, the Company has not maintained effective internal control over financial
reporting as at December 31, 2004, based on the criteria established in Internal ControlIntegrated
Frameworkissued by the Committee of Sponsoring Organizations of the Treadway Commission. We have also audited, in accordance with Canadian generally accepted auditing standards and the
standards of the Public Company Accounting Oversight Board (United States), the consolidated
financial statements as at and for the year ended December 31, 2004, of the Company and our report
dated February 11, 2005 expressed an unqualified opinion on those financial statements and included
a separate report titled Comments by Auditor For U.S. Readers on Canada  U.S. Reporting
Differences relating to changes in accounting principles that have a material effect on the
comparability of the financial statements and changes that have been implemented in the financial
statements. (signed) Deloitte & Touche LLP Independent Registered Chartered Accountants
Calgary, Alberta, Canada
April 29, 2005




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SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized. IVANHOE ENERGY INC.By:
    /s/ E. LEON DANIELName:
    E. Leon DanielTitle:
    President and Chief Executive OfficerDated: April 29, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed
below by the following persons on behalf of the registrant and in the capacities and on the dates
indicated. Signature
    
    Title
    
    Date/s/ E. LEON DANIEL

E. Leon Daniel
    
    President, Chief Executive
Officer and Director
(Principal Executive Officer)
    
    April 29, 2005/s/ W. GORDON LANCASTER

W. Gordon Lancaster
    
    Chief Financial Officer
(Principal Financial and
Accounting Officer)
    
    April 29, 2005/s/ DAVID R. MARTIN

David Martin
    
    Chairman of the Board and Director
    
    April 29, 2005/s/ ROBERT M. FRIEDLAND

Robert M. Friedland
    
    Deputy Chairman and Director
    
    April 29, 2005/s/ R. EDWARD FLOOD

R. Edward Flood
    
    Director
    
    April 29, 2005/s/ SHUN-ICHI SHIMIZU

Shun-ichi Shimizu
    
    Director
    
    April 29, 2005/s/ HOWARD R. BALLOCH

Howard Balloch
    
    Director
    
    April 29, 2005/s/ J. STEVEN RHODES

J. Steven Rhodes
    
    Director
    
    April 29, 2005/s/ DR. ROBERT G. GRAHAM

Dr. Robert G. Graham
    
    Director
    
    April 29, 2005/s/ ROBERT A. PIRRAGLIA

Robert A. Pirraglia
    
    Director
    
    April 29, 2005




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IVANHOE ENERGY, INC.
FORM 10-K/A
EXHIBITS 31.1  Certification of Chief Executive Officer pursuant to Rule 13a-14 or 15d-14 of the Securities
Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2  Certification of Chief Financial Officer pursuant to Rule 13a-14 or 5d-14 of the Securities
Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.