Yes its a spec play, but the technology appears to be similar to a resid FCC, which is hardly new technology. I read in World Heavy Oil Congress Paper 2008-329, that the CDF was rated to run 1000 bpd
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Did some research into IVAN and found that its CEO, Robert Friedland, has a bad history of running penny stocks into the ground. Not saying it couldn't succeed but I'd be careful. Here is a good link.
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An oil development and production company which is focused on pursuing long-term growth in its reserve base and production. Website:http://www.ivanhoe-energy.com/
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