May 11, 2010 / 1:13 PM / in 8 years

UPDATE 1-Canada's Ivanhoe Energy Q1 loss narrows

* Q1 loss/shr $0.01 vs loss $0.04/shr last year

* Q1 gross oil rev $5.3 mln vs $5.7 mln last year

May 11 (Reuters) - Heavy-oil development and production company Ivanhoe Energy Inc IE.TO reported a narrower quarterly loss, helped by lower expenses. For the quarter ended March 31, the company posted a net loss of $2.6 million, or 1 cent a share, compared with net loss of $12.3 million, or 4 cents a share, a year ago.

The company said gross oil revenue in the quarter totaled $5.3 million, down slightly from $5.7 million in the year-ago quarter.

Shares of the company closed at C$2.90 Monday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Anne Pallivathuckal)

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