Ivanhoe Energy, run by former Occidental Petroleum executives, produces oil and gas in places like China and California.

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Calandra had used the newsletter to tout Ivanhoe Energy and Ivanhoe Mines, stocks he at one time owned.

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The volatile stocks have both more than doubled in the last year, but Ivanhoe Energy has tumbled 57% and Ivanhoe Mines is down 43% since the stocks reached their peak in early November.

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Calandra, who recommended Ivanhoe Energy and Ivanhoe Mines in his newsletter, numerous Internet columns and on the CBS Marketwatch television program, said he had fully disclosed the junkets and his share ownership in Ivanhoe Energy.

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He freely admits that he is "a large holder" of stock in Friedland's Ivanhoe Energy and has recommended both Ivanhoe Mines and Ivanhoe Energy in his newsletter. (He has also shilled for Ivanhoe Energy on CBS MarketWatch's weekend network-TV broadcast.) His enthusiasm has been credited by various news wires with moving the stocks higher.

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