Canada's Ivanhoe Energy explores sale, flags "going concern" doubt
Dec 12 (Reuters) - Canadian oil and gas company Ivanhoe Energy flagged "going concern" doubts on Friday and said it was exploring a sale of the company.
The company said it could default on an interest payment of about C$2.1 million ($1.8 million) due on Dec. 31.
Ivanhoe said that apart from a sale of the company, it was looking at options including the sale of a portion of its assets, recapitalization, debt restructuring or a combination of these, to repay debt and fund operations.
The company, which operates in Canada, the United States and Ecuador, said it was uncertain if it could raise additional financing.
Ivanhoe had $61.3 million in long-term debt and $357,000 in cash and cash equivalents as of Sept. 30. ($1 = C$1.16) (Reporting by Ashutosh Pandey in Bengaluru; Editing by Savio D'Souza)
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