BUZZ-Ivanhoe Energy Inc: To file for bankruptcy protection in Canada

Fri Feb 20, 2015 8:59am EST
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** Canadian oil and gas company's U.S.-listed shares down 63 pct at $0.26

** Company, operates in Canada, the United States and Ecuador, says it will file for bankruptcy protection in Canada

** Ivanhoe, which recently secured a bridge loan of $2.37 mln from founder Robert Friedland, said failure to achieve financing and restructuring goals would result in the company going bankrupt

** Up to Thursday's close, Ivanhoe's Toronto-listed stock had fallen nearly 14 pct since the company flagged "going concern" doubts in December