GM..Rob!..$IVAN news out.. http://www.otcmarkets.

GM..Rob!.. $IVAN news out..

http://www.otcmarkets.com/stock/IVAN/news

Ivanhoe Energy closes sale of Pan-China Resources Ltd.
CALGARY, Dec. 17, 2012 /PRNewswire via COMTEX/ -- Note: All figures are quoted in U.S. dollars unless otherwise noted.

Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) announced today that it has closed the previously announced Share Purchase and Sale Agreement with MIE Holdings Corporation (MIE) for all of the outstanding shares of its indirect, wholly owned subsidiary, Pan-China Resources Ltd.

In exchange for its indirect wholly-owned subsidiary, Ivanhoe Energy will receive the $45 million purchase price, less adjustments. Per the terms of the Agreement, initial proceeds of approximately $35.6 million were delivered on closing and the Company will receive the remainder withinsix months.

Ivanhoe Energy expects to complete the transaction to divest the Zitong asset by the end of 2012. In 2013 the Company plans to take significant steps to further develop the Tamarack project in Canada and Block 20 in Ecuador, and commercialize the HTL technology.

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, Ecuador, China and Mongolia, 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 .