
Monday, April 14, 2025
InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Transformative acquisition closed. InPlay Oil recently closed its acquisition of Cardium light oil focused assets in the Pembina area of Alberta from Obsidian Energy for net consideration of approximately $301 million. The transaction more than doubles InPlay’s total output to 18,750 barrels of oil equivalent per day (boe/d). The assets are 68% weighted in oil and natural gas liquids (NGLs) and have a low decline rate of 22%. Management expects greater production, a lower decline rate, and enhanced operational efficiency. Following the completion of the acquisition, InPlay had 167,636,627 shares issued and outstanding.
Share consolidation. Effective April 14, InPlay will implement a share consolidation based on one common share for six common shares. The consolidation was unanimously approved by the company’s board and by 96.56% of the votes cast during a special meeting of shareholders. Post-consolidation, InPlay will have approximately 27,939,438 common shares issued and outstanding. The shares are expected to begin trading on a post-consolidation basis two to three trading days following the effective date.
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