Ivanhoe Names Silverman Technology VP

Silverman, who joins Ivanhoe Energy from Kellogg, Brown and Root (KBR), will be responsible for all technical aspects of Ivanhoe Energy's proprietary heavy oil upgrading process (HTL(TM)) as the company prepares for full-scale commercial operations. This will include interfacing with leading engineering firms in the design of the first commercial HTL installation. Silverman has almost 30 years of experience in technology development and management, including the commercialization and marketing of new technologies, and is a leading expert in fluid catalytic cracking (FCC) processes. In addition to FCC responsibilities, Silverman's most recent position at KBR was Vice President of Petrochemicals where he was responsible for all aspects of the petrochemicals technology portfolio for the 56,000-employee engineering, construction and project management firm.

Silverman previously directed KBR's Technology Center in Houston, a 70,000 square foot facility with numerous state-of-the-art pilot plants that support all of KBR's refining and petrochemical technology development and maintenance needs. Prior to joining KBR, Silverman was the Manager of Technology Development for Stone & Webster, Inc. where he managed all aspects of technology development in the refining business, including FCC's and several heavy oil upgrading technologies. Earlier experience included the management of fluid catalytic cracking for Tenneco Oil Company, the development and commercialization of fluid bed processes at The Badger Company, Inc. and an assistant professorship in Chemistry at Rutgers University. Silverman has a B.A. degree in Chemistry from Northwestern University and a Ph.D. in Chemistry from Brown University.

"Mike Silverman is an exceptional addition to Ivanhoe Energy's technology development team," said Joe Gasca, Ivanhoe Energy's President and CEO. "He is a recognized expert in FCC technology, a well established refinery process in extensive use around the world with broad similarities to our HTL technology. Dr. Silverman brings to Ivanhoe Energy not only a strong technical background, but also a track record in commercializing new technologies."

Silverman said, "I believe the HTL process has the potential to become a step-change technology in heavy oil upgrading, with significant implications for both field-located upgrading and refinery applications. I am very pleased to be joining Ivanhoe Energy as the company prepares for deployment of full scale HTL commercial projects."

Ivanhoe Energy is an independent international heavy oil development and production company focused on pursuing long-term growth in its reserves and production using advanced technologies, including its proprietary heavy oil upgrading process (HTL(TM)). Core operations are in the United States and China, with business development opportunities worldwide.