Ivanhoe Energy Receives Final $3.7M in Proceeds from Shell China

Ivanhoe Energy IVAN announced today that it received the final US$3.7 million in proceeds from Shell China relating to the transfer of the Zitong Block Petroleum Contract.  The funds were released as part of the 2012 China National Petroleum Corporation's cost recovery audit. Proceeds will be added to existing working capital reserves. Ivanhoe Energy is an independent international heavy oil exploration and development company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTLTM). Core operations are in Canada, United States, and Ecuador, with business development opportunities worldwide. Ivanhoe Energy trades on the Toronto Stock Exchange with the ticker symbol IE and on the NASDAQ Capital Market with the ticker symbol IVAN. For more information about Ivanhoe Energy Inc. please visit 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 the potential for commercialization and future application of the heavy oil upgrading technology and other technologies, statements relating to the continued advancement of Ivanhoe Energy's projects, statements relating to See full press release