CALGARY, May 19, 2014 /CNW/ – Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) today announced the appointment of Greg Phaneuf to Senior Vice President, Finance and Chief Financial Officer (CFO), effective June 1, 2014.
“Greg brings important expertise to the office of the CFO for Ivanhoe Energy,” said Carlos A. Cabrera, Executive Chairman. “His financial experience and knowledge of our company will be invaluable as we work to deliver our plan and build value for all of Ivanhoe’s stakeholders.”
Mr. Phaneuf brings 23 years of experience in the financial and energy sectors. Prior to his nearly four years at Ivanhoe in the role of Senior Vice President, Business Development and Corporate Strategy, he was Vice President, Corporate Development for The Churchill Corporation where he led all acquisition and associated fundraising activities. Prior to that Mr. Phaneuf was Vice President, Finance and Chief Financial Officer of a private energy resource and development company which today has production in excess of 20,000 barrels of oil equivalent per day. He was also Treasurer for Western Oil Sands, where he actively participated in that company’s financings, M&A activities and risk management functions. Western Oil Sands ultimately sold to a third party for an enterprise value in excess of $7 billion. Mr. Phaneuf holds a Bachelor of Commerce Degree from the University of Saskatchewan and is a member of the Canadian and Alberta Institute of Chartered Accountants and a Chartered Financial Analyst charter holder.
As part of his new responsibilities, Mr. Phaneuf will continue to advance Ivanhoe’s corporate development activities.
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 (HTL®). 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.
SOURCE Ivanhoe Energy Inc.
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