* Q4 loss $0.05/shr vs. est loss $0.01/shr
* Oil revenue falls 51 pct
March 17 (Reuters) - Ivanhoe Energy Inc IE.TO posted a wider-than-expected quarterly loss, hurt by lower benchmark crude oil prices.
For the fourth quarter, Ivanhoe reported a net loss of $11.9 million, or 4 cents a share, compared with a loss of $14 million, or 5 cents a share in the year-ago period.
The heavy-oil development and production company said oil revenue in the quarter totaled $5.3 million, down from $10.8 million in the year-ago quarter.
Analysts on average had expected the company to post a loss of 1 cent a share, according to Thomson Reuters I/B/E/S.
“With the success of our recent C$150 million financing, we will continue to advance our key projects — the Tamarack Project in Canada and the Pungarayacu Project in Ecuador,” Chief Executive Robert Friedland said in a statement.
“Beyond this, we are actively pursuing additional HTL (heavy-to-light) opportunities in the Middle East and Latin America.”
Shares of the company closed at C$3.75 Tuesday on the Toronto Stock Exchange.
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