Ivanhoe Energy (IVAN -1%) gives back early morning gains after announcing the sale of its wholly...

|About: Ivanhoe Energy, Inc. (IVAN)|By:, SA News Editor

Ivanhoe Energy (IVAN -1%) gives back early morning gains after announcing the sale of its wholly owned subsidiary, Pan-China Resources, to MIE Holdings for $45M in cash. Pan-China Resources holds 100% of the foreign contractor's rights for the Dagang Production Sharing Contract. The deal is expected to close in the next 30 days, and has an effective date of September 30.