+ 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.
Yes its a spec play, but the technology appears to be similar to a resid FCC, which is hardly new technology. I read in World Heavy Oil Congress Paper 2008-329, that the CDF was rated to run 1000 bpd of California Heavy crude, and was tested on a roughly 300 bpd vacuum resid feed. With resid being 30% of crude, this seems adequate. The key for further investment in the technology is higher crude to product price differential, which hasn't been great the past couple years. I bought IVAN a few years ago and will likely add more as I see refining margins getting better. As I mentioned, I don't think what they are trying to do is that different from what has been done in refining for the past 30 years.
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