+ Watch IVAN
on My Watchlist
An oil development and production company which is focused on pursuing long-term growth in its reserve base and production.
Did some research into IVAN and found that its CEO, Robert Friedland, has a bad history of running penny stocks into the ground. Not saying it couldn't succeed but I'd be careful. Here is a good link. http://www.fool.com/news/2000/foth000329.htm
Mark304,Thanks for the link. I have been trying to warn people and to use caution with Ivan. This HTL is a scam! Ivan cannot produce anu data proving any test run at the CDF was able to use bi-product coke to sustain the process once it was at operational parameters. This is a "key" if not the "key" selling point of HTL. Not having to purchase natural gas to supply energy to the process once up and running is "key" for any heavy oil producer. As I have been saying for quite some time, if CDF performed as touted by Ivan why wouldn't Aera the largest heavy oil producer in Calif (on whose property the CDF is located) have long ago signed to buy HTL??? Why wouldn't Conoco validate the results of the Athabasca test run since they were onsite during the test??? The reason is simple...the test did not meet all the Conoco criteria, primarily the burning of bi-product coke to sustain the process. I too have no bone to pick with Ivan, just local oil & gas professional who is in the know about local O&G companies. No rumors or BS...just solid information from other O&G professionals in the area who know the truth about Ivan!!!
Well, I once heard from a guy who once went to an investor presentation where a presenter retold a story from an extremely well-placed oil and gas insider who said that IVAN is the BEST company in the space and that it was only a matter of time before each and every shareholder became a millionaire because their amazing technology was unquestionably worth one million dollars per share!!! Can you believe it!I know, me too. And that's why I bought all two shares instead of just the one.
Please note there are also two rebuttals from Friedlund. The first particularly is worth reading. I have not dug further, but as always, there is another side of the storyhttp://www.fool.com/news/2000/siri000414.htmhttp://boards.fool.com/message.asp?id=1030056002806000&sort=postdate
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