news released in usa -good? North Yowlumne - In December 2005,...

news released in usa -good? North Yowlumne - In December 2005, drilling commenced on the North Yowlumne prospect. The 13,000-foot well has been cased and a liner has been run and cemented over multiple zones of indicated hydrocarbon content that was encountered. Initial interpretation of the well data is encouraging and indicates that a sequence of sandstone beds were encountered from 12,000 to 13,000 feet. Up to three intervals may be tested for hydrocarbon content and flow potential starting in mid-March 2006.

Ivanhoe Energy developed the North Yowlumne prospect after an extensive 3-D seismic survey. We farmed out 87.5% of this exploration prospect. If the well is successful the farmin parties interest drops to 43.75%. Following payout of the first producing well, we will have a 56.25% working interest in the approximate 6,900-acre block and will be the operator for any subsequent operations.

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