Ivanhoe Energy expects to file an application to develop the Tamarack HTL facility, after having completed work on the 28-well drilling programme.
Ivanhoe said it has invested $17.9m in the project, which is situated in the Athabasca region of northern Alberta, Canada, during the first quarter of 2010.
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The firm has also completed steaming and soaking operations at the Pungarayacu IP-15 well in Ecuador where production testing is underway and which has seen an investment of $4.2m in the first quarter.
Ivanhoe also plans to drill two wells in China’s Zitong block up to a depth of 4,500m in June and July 2010, with each prospect targeting 0.3 to 0.5 trillion cubic feet of gas.
Ivanhoe reported a net loss of $2.6m in the first quarter of this year compared with a net loss of $11.6m for the same quarter in 2009 on lower depletion expense in the first quarter.
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By GlobalData
