U.S. Markets close in 3 hrs 40 mins

Ivanhoe Energy and GAR successfully conclude arbitration case

Ivanhoe Energy announced a successful conclusion to the arbitration case with GAR Energy and Associates. The case arose out of GAR Energy's allegations related to an engagement for consulting work in Colombia and Ecuador. Ivanhoe defended the case vigorously from the beginning, asserting that it had acted in accordance with its contractual and other duties in dealing with GAR Energy. Ivanhoe is gratified that, after considering all of the evidence, the arbitration panel agreed with the Company's position and exonerated Ivanhoe completely on all of GAR Energy's claims.