Newsgroup: it.economia.borsa.estero
Titolo: Calandra newsletter fresca fresca...su IVAN

Direi come il cacio sui maccheroni......
Appana arrivata nella mia casella di posta elettr.
China investing arm to back oil project
CITIC, Ivanhoe Energy expected to announce equity pact
By Thom Calandra, 
CBS.MarketWatch.com
Last Update: 1:08 AM ET Nov 18, 2003
SAN FRANCISCO (
CBS.MW
) -- China's 25-year-old investment arm is expected
Tuesday to unveil details of an approximately $20 million equity stake in a
Canadian company's oil field exploration and development project.
The China International Trust & Investment Corp., which controls more than
$50 billion of assets spread across airlines, real estate, banks and
insurers, is expected to announce the intended equity stake in Ivanhoe
Energy (IVAN), whose China subsidiary is developing wells at the Dagang oil
fields not far from Beijing.
CITIC, whose chairman, Wang Jun, reports to China's State Council, is
expected to outline its cash injection into the subsidiary, Sunwing Energy,
people close to the situation tell subscription service The Calandra Report.
The equity stake is subject to the approval of the State Council. Sources
close to the company and to CITIC say there are no obstacles to approval.
Representatives of Ivanhoe Energy on Monday declined to comment on the
matter.
CITIC's newly created energy group is charged with taking equity stakes, or
forming working partnerships with, oil exploration and production companies
that could ease China's dependence on imported petroleum products. The
nation was a net exporter of oil just four years ago and now imports about 1
million barrels a day.
Ivanhoe Energy already has spent $17 million mapping and developing part of
a 22,000-acre block in the Dagang field, which is 125 miles southeast of
Beijing. Ivanhoe's Sunwing unit, using an assembly of enhanced-oil-recovery
techniques in the area, produces about 500 barrels a day from the field from
five working wells, which fall under a production-sharing pact with China
National Petroleum Corp.
The oil from Ivanhoe's current and future production at the Dagang field is
sold to PetroChina, an independent oil company.
Bankers and others close to both Sunwing and CITIC say the $20 million or so
in cash will represent an approximately 40 percent working interest in
Ivanhoe's Dagang project and could lead to other development opportunities
for parent Ivanhoe Energy, including efforts the company is undertaking to
participate in the improvement of oil production in southern Iraq and a
natural gas project in China's Sichuan Basin.
CITIC will be permitted to exchange its investment at Dagang for equity in
Ivanhoe Energy (IE) or a stake in Sunwing Energy for a period that likely
will extend into 2005. People close to the situation say the Development
Bank of China and other Beijing lenders are prepared to lend $40 million or
more to Ivanhoe - in addition to CITIC's $20 million -- to accelerate
development of as many as 115 new wells across the Dagang field.
Ivanhoe's portion of the oil field, by some estimates, has more than 50
million gross barrels of oil. Estimates thrown around on full-throttle
production are for 14,000 barrels of oil a day sometime by 2005 or 2006.
CITIC also may unveil plans for a working interest or equity stake in an
African oil-exploration project in the nation of Chad, sources say. The Chad
project, linked to Canada's EnCana, is unrelated to Ivanhoe Energy, which
specializes in the location and production of energy from so-called
"stranded" fields, where the concept of profitable wells is challenged by
remote locations and by rock, mud and tricky geologic formations.
CITIC's chairman, Wang, is expected to outline the pact with Ivanhoe Energy,
whose shares trade on Nasdaq and in Canada and are a longstanding member of
The Calandra Report Recommended List, a subscription service of CBS
MarketWatch. The $20 million could be paid to Ivanhoe Energy as soon as
December, sources said.
(Editor's note: Thom Calandra owns shares of Ivanhoe Energy, whose majority
shareholder is mining executive Robert M. Friedland. Another Friedland
company, copper and gold miner Ivanhoe Mines (HUGO) (IVN), sponsored a
recent Thom Calandra trip to Beijing and Mongolia.)

 Appana arrivata nella mia casella di posta elettr.
Certo che Calandra ci crede. E se ci crede Calandra.....

 ha scritto nel messaggio
news:2Btub.51158$hV.19...@news2.tin.it...

Sě sě, che vada giů...per adesso. Facciamo divertire i daytraders.
Vedrete che succede in una settimana