Energy Archives - Channelchek

Power Metallic Mines Inc. (PNPNF) – Power Metallic Advances Toward Key Resource Milestone with New High-Grade Results

Posted on June 24, 2026June 24, 2026 by [email protected]

Wednesday, June 24, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Recent drilling results. Power Metallic Mines reported additional assay results from its Winter 2026 drilling program at the Lion Zone, with the results expected to support the company’s initial NI 43-101 Mineral Resource Estimate (MRE), which is scheduled for completion by the end of July. The MRE for both the Lion Zone and the Nisk deposit will provide the foundation for a Preliminary Economic Assessment (PEA) that is expected to begin immediately afterward.

Strong near-surface copper grades. The latest drilling focused on infill holes designed to improve confidence in resource modeling along the western side of the Lion Zone, particularly within a potential future open-pit area. Results continue to demonstrate strong near-surface mineralization, highlighted by Hole PML-26-115, which returned 13.3 meters grading 3.98% copper equivalent (CuEq) beginning just 25 meters below surface, including a higher-grade interval of 3.77 meters grading 9.36% CuEq. Hole PML-26-105 also delivered a strong intercept of 5.26 meters grading 8.45% CuEq at a depth of approximately 140 meters. Both will be included in the upcoming MRE.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

Pump Prices Fall Under $4 Just in Time for Summer Travel Season

Posted on June 18, 2026June 18, 2026 by [email protected]

The energy shock that defined the spring of 2026 is unwinding, and American consumers are feeling it at the pump just in time for summer. The national average price of regular gasoline fell to $3.99 per gallon Thursday, dropping below the $4 threshold for the first time in months and delivering meaningful relief to households that watched prices climb above $4.50 per gallon only a month ago at the height of the US-Iran conflict.

For the small and microcap companies that spent the spring absorbing elevated fuel costs with limited ability to pass them through, the decline is more than a consumer story. It is the early stage of a margin recovery that could reshape the second half of the year.

What’s Driving the Decline

The catalyst is diplomatic. Following President Trump’s announcement Sunday that Washington and Tehran had agreed to terms on a 60-day memorandum of understanding aimed at ending the three-month conflict and reopening the Strait of Hormuz to commercial traffic, crude oil prices have fallen sharply. Brent crude, the international benchmark, has dropped roughly 13% over the past five trading sessions to trade firmly below $80 per barrel for the first time since the early days of the war. US benchmark WTI crude has fallen even harder, shedding approximately 15% to trade below $75.

The scale of the recovery reflects the scale of the disruption. The shuttering of the Strait of Hormuz removed more than one billion barrels of oil from the global market over three months, creating one of the most severe supply squeezes in years. Gasoline and other crude derivatives, which carry embedded refining costs and are stored in smaller quantities, experienced even more dramatic price swings than crude itself — which is precisely why they are now falling quickly as the supply picture normalizes.

Industry analysts project the national average could head toward $3.70 per gallon in the near term as the Iran agreement takes hold and movement through the strait resumes, with diesel prices expected to fall below $5 per gallon shortly after.

The Small Cap Margin Story

For consumer-facing companies in the sub-$2 billion market cap range, the decline in fuel costs is a direct and measurable tailwind. Throughout the spring, regional trucking companies, last-mile delivery operators, food service businesses, and logistics providers absorbed surging diesel and gasoline costs that compressed already thin operating margins. Unlike large cap peers with hedging programs and pricing power, smaller operators had few options beyond eating the costs or risking demand destruction by raising prices.

That pressure is now reversing. Lower fuel costs flow almost immediately through to the operating expenses of transportation and logistics-dependent companies. Credit card data throughout the spring showed consumers spending an increasing share of their budgets on gasoline while cutting back elsewhere — a dynamic that squeezed discretionary small cap retailers and restaurant operators. As pump prices fall, that discretionary spending capacity returns, potentially benefiting the consumer-facing companies that had been most pressured.

The Caveats Worth Watching

The recovery is not without risk. Gasoline prices remain elevated above prewar levels, and a well-documented market phenomenon often described as “rockets and feathers” means pump prices tend to rise quickly when crude climbs but fall more slowly on the way back down. The timing of the Strait of Hormuz fully reopening remains uncertain, which means oil prices are unlikely to collapse dramatically as summer driving demand builds.

A more immediate threat comes from the weather. Tropical Storm Arthur is expected to impact the US Gulf Coast, home to the nation’s largest refinery complex. With US refineries already running at 97% of capacity according to federal data, any disruption from flooding could squeeze a system operating at its limit and temporarily reverse some of the relief now reaching consumers.

Barring significant storm damage or other disruptions, analysts project national average gasoline prices could fall below $3 per gallon by year-end, with diesel below $4. For the small cap companies that endured the spring squeeze, that would represent a full-circle recovery — and a meaningful tailwind heading into 2027.

Power Metallic Mines Inc. (PNPNF) – LIFE Offering Closed; Mr. Eric Sprott Joins Shareholder Roster

Posted on June 12, 2026June 12, 2026 by [email protected]

Friday, June 12, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

LIFE Offering. Power Metallic Mines closed its previously announced brokered Listed Issuer Financing Exemption (LIFE) offering that raised C$28.2 million in gross proceeds. The company issued 22.583 million common shares of the company at a price of C$1.25 per share. The agents received an aggregate cash fee of C$1.4 million. We had already assumed the issuance of equity in our financial model. Prominent mining investor Mr. Eric Sprott invested C$2.0 million through his company, 2176423 Ontario Ltd., with the acquisition of 1.6 million shares.

Use of Proceeds. The proceeds will be used to advance the company’s flagship Nisk Project in Quebec and its Jabul Baudan exploration license in Saudi Arabia, and to fund general working capital and corporate needs.

Get the Full Report

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – InPlay Oil Corp. Announces Annual Meeting Voting Results for Election of Directors

Posted on June 11, 2026June 11, 2026 by [email protected]

Research News and Market Data on IPOOF

Jun 10, 2026, 21:31 ET

CALGARY AB, June 10, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announced today the voting results for the election of directors at its annual meeting of shareholders held on June 10, 2026 (the “Meeting”). The following eight nominees were elected as directors of InPlay to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with common shares represented at the Meeting voting in favour of individual nominees as follows:

Director	Percentage Approval	Percentage Withheld
Douglas Bartole	99.94 %	0.06 %
Regan Davis	98.66 %	1.34 %
Joan Dunne	99.97 %	0.03 %
Craig Golinowski	99.93 %	0.07 %
Tamir Polikar	99.83 %	0.17 %
Ehud Erez	94.40 %	5.60 %
Stephen Nikiforuk	99.96 %	0.04 %
Dale Shwed	99.84 %	0.16 %

In addition, all other resolutions presented at the Meeting were approved by InPlay’s shareholders, including the appointment of PriceWaterhouseCoopers LLP as auditors. For complete voting results, please see our Report of Voting Results which is available through SEDAR+ at www.sedarplus.ca.

InPlay 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.

SOURCE InPlay Oil Corp.

For further information please contact: Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632; Kevin Leonard, Vice President Corporate & Business Development, InPlay Oil Corp., Telephone: (587) 955-0635

Summit Midstream Corp (SMC) – Double E Momentum Enhances Earnings Visibility

Posted on June 9, 2026June 9, 2026 by [email protected]

Tuesday, June 09, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

George Proost, Research Intern, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Double E Expansion Gains Commercial Traction. Summit Midstream announced additional long-term transportation commitments on its Double E Pipeline, bringing open season commitments to 250 MMcf/d and total contracted capacity to approximately 1.9 Bcf/d. Demand has exceeded available expansion capacity, prompting the company to extend its open season through June 30, 2026, while continuing negotiations with prospective shippers. Management remains on track to reach a final investment decision by the end of summer and has secured key compressor equipment to support a targeted late-2028 in-service date.

Strong Demand Supports Capacity Expansion. The Double E Compression Expansion would increase pipeline capacity by approximately 50%, from 1.6 Bcf/d to 2.4 Bcf/d, further strengthening its role as a key natural gas takeaway system in the Delaware Basin. In addition to the 250 MMcf/d of binding commitments secured, Summit holds a firm option agreement for another 200 MMcf/d and continues discussions with shippers whose interest exceeds available capacity. The strong commercial response reduces project risk and underscores continued demand for Permian Basin natural gas infrastructure.

Get the Full Report

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Summit Midstream Corp (SMC) – Inaugural Stock Repurchase Program

Posted on June 2, 2026June 2, 2026 by [email protected]

Tuesday, June 02, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Stock Repurchase Authorization. Summit Midstream Corporation announced that its Board of Directors has authorized the company’s first stock repurchase program, allowing for the repurchase of up to $35 million of outstanding common stock. As of May 8, shares outstanding were 20.3 million, including 13.8 million common shares and 6.5 million Class B common shares.

Terms of the Program. Summit may repurchase shares through open market transactions, privately negotiated purchases, block trades, or other methods permitted under applicable securities laws. Repurchase activity will depend on market conditions, share price, debt covenant compliance, and other factors. The program has no expiration date, does not require the company to buy back any specific number of shares, and may be suspended or terminated at any time.

Get the Full Report

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – Summit Midstream Corporation Announces Inaugural $35 Million Stock Repurchase Program

Posted on June 1, 2026June 1, 2026 by [email protected]

Research News and Market Data on SMC

PDF Version

HOUSTON, June 1, 2026 /PRNewswire/ — Summit Midstream Corporation (NYSE: SMC) (“Summit,” “SMC” or the “Company”) today announced that its Board of Directors has authorized the Company’s inaugural stock repurchase program to repurchase up to $35 million of the Company’s outstanding common stock.

Heath Deneke, President, Chief Executive Officer and Chairman, commented, “The authorization of our inaugural share repurchase program reflects the Board’s confidence in Summit’s financial strength and the significant progress we have made over the past year in simplifying our balance sheet and strengthening our platform. Having repaid all arrears on our Series A Preferred Stock and supported by our improving free cash flow profile and financial flexibility, we are now in a position to utilize a common stock buyback program as a tool to ensure liquidity and support the secondary market of the shares. We believe our common stock represents an attractive opportunity at current levels, and we intend to be opportunistic in executing any repurchases.”

Under the program, repurchases of shares of the Company’s common stock may be made from time to time in the open market, through privately negotiated transactions, block purchases, or otherwise, including through a Rule 10b5-1 trading plan, in compliance with applicable federal and state securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing and amount of any repurchases will be determined by management at its discretion based on a variety of factors, including business and market conditions, the trading price of the Company’s common stock, compliance with debt covenants, and certain other considerations. The program does not obligate the Company to repurchase any specific number of shares, has no fixed expiration date, and may be suspended or discontinued at any time.

About Summit Midstream Corporation

SMC is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. SMC provides natural gas, crude oil and produced water gathering, processing and transportation services pursuant to primarily long-term, fee-based agreements with customers and counterparties in five unconventional resource basins: (i) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (ii) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in Texas; (iv) the Arkoma Basin, which includes the Woodford and Caney shale formations in Oklahoma; and (v) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMC has an equity method investment in Double E Pipeline, LLC, which provides interstate natural gas transportation service from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMC is headquartered in Houston, Texas.

Forward-Looking Statements

This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words “expect,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “will be,” “will continue,” “will likely result,” and similar expressions, or future conditional verbs such as “may,” “will,” “should,” “would” and “could.” In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), repurchases of the Company’s common stock, payment of dividends on any series of stock, ongoing business strategies and possible actions taken by SMC or its subsidiaries are also forward-looking statements. Forward-looking statements also contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management’s control) that may cause SMC’s actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMC is contained in its 2025 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 16, 2026, as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMC undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.

View original content to download multimedia:https://www.prnewswire.com/news-releases/summit-midstream-corporation-announces-inaugural-35-million-stock-repurchase-program-302786619.html

SOURCE Summit Midstream Corporation

832-413-4770, [email protected]

Weatherford Is Acquiring NCS Multistage — and the Timing Says Everything About Where Oil Field Services Is Heading

Posted on June 1, 2026June 1, 2026 by [email protected]

NCS Multistage is not a generalist oilfield services company. It operates in a specific and technically demanding niche: highly engineered products and support services that optimize well construction, completion, and field development strategies — primarily in horizontal wells drilled in unconventional oil and gas formations. Its technology is designed to improve reliability and production performance across the full well lifecycle, from initial completion design through late-stage production optimization and intervention.

The company operates primarily across North American basins and has established a presence in select international markets including the North Sea, the Middle East, and Argentina. That international footprint, while smaller than Weatherford’s, gives the combined company immediate leverage to cross-sell NCS Multistage’s technology into Weatherford’s six-continent global customer base — which is one of the most compelling near-term value creation levers in the deal.

Why This Deal Makes Sense Right Now

Weatherford is making a direct bet on two intersecting trends. The first is the sustained relevance of unconventional resource development. Despite the ongoing shift toward energy transition narratives, horizontal drilling and hydraulic fracturing in unconventional formations remain the backbone of North American oil and gas production. NCS Multistage’s core technology sits squarely in that production stream, and demand for completion optimization tools that improve per-well economics has not softened.

The second trend is consolidation driven economics. Smaller, specialized oilfield technology companies with strong engineering capabilities but limited distribution reach are increasingly attractive acquisition targets for larger platforms that can scale those technologies globally. NCS Multistage had the technology and the reputation. Weatherford has the footprint and the financial capacity to take it international.

Piper Sandler served as financial advisor to NCS Multistage in the transaction.

The Broader Signal for Small Cap Energy Services

For investors tracking the sub-$2 billion oilfield services and energy technology space, the Weatherford-NCS deal continues a pattern worth monitoring. Specialized completion technology, production optimization tools, and unconventional resource services companies have been consistent acquisition targets as larger players look to deepen technical differentiation rather than compete purely on scale.

The Iran conflict has kept oil prices elevated despite recent ceasefire negotiations, and sustained prices above $90 WTI support the capital spending levels that drive demand for exactly the kind of completion technology NCS Multistage provides. In that environment, companies with defensible technology niches and proven field performance records are not staying independent for long.

A US-Iran Peace Framework Is Taking Shape and Oil Just Fell to $90. Here Is What That Means for the Market

Posted on May 28, 2026May 28, 2026 by [email protected]

The most consequential macro story of 2026 may be moving toward resolution. The United States and Iran are now describing a draft memorandum of understanding to end their three-month conflict as “largely negotiated,” and oil markets are responding decisively. West Texas Intermediate crude fell to $89.97 per barrel Wednesday and Brent dropped to approximately $95, with both benchmarks down more than 10% since President Trump called off an imminent military strike on Iran ten days ago. That is a significant and rapid repricing for a commodity that was trading above $107 as recently as last week.

What the Draft Deal Actually Says

Iran’s state television and multiple US officials briefed on the talks have outlined the framework of the proposed MOU, which was brokered through indirect negotiations with Pakistan playing a central mediating role. Under the draft terms, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within 30 days, and would clear the mines it deployed in the waterway. In exchange, the United States would lift its naval blockade of Iranian ports, withdraw military forces from Iran’s vicinity, and issue sanctions waivers allowing Iran to sell oil on global markets during a 60-day negotiating period.

The framework also includes the release of approximately $12 billion in frozen Iranian assets as part of a wider $25 billion package under discussion, and envisions Iran managing ship traffic through the strait in cooperation with Oman. If a final agreement is reached within the 60-day window, the MOU could be elevated to a binding UN Security Council resolution.

Trump described the deal as “largely negotiated” over the weekend after consulting with leaders from Saudi Arabia, the UAE, Qatar, Pakistan, Turkey, Egypt, Jordan, Bahrain, and Israel. Secretary of State Marco Rubio confirmed “good signs” and “progress” earlier this week. The deal has not yet been signed and Trump’s formal approval is still pending, while Iran has stated it will take no steps without “tangible verification” of US commitments.

Why This Matters for the Small Cap Universe

The Strait of Hormuz conflict has functioned as a slow-moving tax on the entire small and microcap economy since February 28. Oil above $100 compressed margins for consumer-facing companies, accelerated inflation, pushed Treasury yields to 19-year highs, and sharply reduced the probability of Fed rate cuts that smaller, variable-rate borrowers were counting on. The gradual unwinding of that pressure, if the deal holds, is not a single-day event. It plays out over weeks and quarters.

The most immediate beneficiaries are consumer-facing small caps in transportation, logistics, food service, and retail that have been absorbing elevated fuel costs with limited ability to pass them through to customers. Diesel prices remain significantly elevated, but a sustained move toward $80 WTI would represent meaningful operating cost relief for companies in these sectors.

The flip side is domestic energy producers. Independent oil and gas operators that benefited from WTI above $100 face a direct revenue headwind as prices normalize. Energy services companies and oilfield operators in the small cap space will need to watch production economics carefully if crude continues its descent.

The deal is not yet done. Multiple rounds of progress have collapsed in this conflict before, and outstanding issues including Iran’s nuclear program and enriched uranium stockpile remain unresolved. Energy executives have cautioned that full normalization of Middle East oil supply may not occur until 2027 given the scale of infrastructure disruption caused by the three-month closure. The IEA has also warned that global oil inventories remain dangerously depleted and markets could enter a supply “red zone” as summer travel demand builds.

A deal at $90 oil is not the same as a deal at $75 oil. But the direction of travel is clear, and for the half of the small cap economy that has been squeezed by elevated energy costs since late February, every dollar WTI moves lower is a dollar back in the margin structure.

$4.56 a Gallon and Climbing: The Iran War Just Turned Memorial Day Into a Small Cap Stress Test

Posted on May 26, 2026May 26, 2026 by [email protected]

Americans hitting the road this Memorial Day weekend are paying the highest prices at the pump in nearly four years and the bill is coming due for small and microcap companies across the consumer economy whether they are behind the wheel or not.

The national average for a gallon of regular gasoline reached $4.56 on Thursday according to AAA, up more than $1.38 from this time last year and more than 50% since the US and Israel launched strikes on Iran on February 28. Every single US state has now crossed the $4 threshold. Seven states are posting averages above $5, with California topping the national rankings at $6.16 per gallon. The last time Memorial Day fuel costs were this elevated was 2022, in the wake of Russia’s full-scale invasion of Ukraine, when the national average peaked at $4.61.

The summer outlook is not encouraging. GasBuddy projects the national average will run at approximately $4.80 per gallon across the full summer driving season from Memorial Day through Labor Day and warns prices could test the all-time record of $5.02 per gallon if the Strait of Hormuz remains effectively closed deep into the season. GasBuddy’s head of petroleum analysis attributes more than 90% of the year-over-year gap at the pump directly to the Iran conflict and the resulting disruption to the strait, which normally handles roughly one-fifth of global oil supply and has now been compromised for twelve consecutive weeks.

Record Travel, Real Costs

The timing could not be more pointed. AAA projects a record 45 million Americans will travel at least 50 miles this Memorial Day weekend, up from 44.8 million in 2025 and nearly 5% above pre-pandemic 2019 levels. Of those travelers, 87% will be driving. Gasoline demand ticked higher last week to 8.76 million barrels per day even as total domestic supply fell to 214.2 million barrels and production slipped to 9.3 million barrels per day. Demand rising into a tightening supply picture is not a recipe for relief at the pump.

The Small Cap Exposure

For investors in the sub-$2 billion market cap space, this is not an abstract macro story, it is an active margin event playing out across multiple sectors simultaneously. Regional trucking companies, last-mile delivery operators, and logistics providers are absorbing diesel costs that have risen sharply alongside gasoline, with limited ability to push surcharges through in a competitive environment. Consumer-facing small caps in food service, casual dining, and retail are getting squeezed from two directions: higher distribution and operating costs on one side, and a consumer with less disposable income after filling the tank on the other.

Travel-adjacent small caps, regional hospitality operators, independent hotel brands, and leisure-focused consumer companies face a more nuanced picture. Record travel volumes represent a genuine demand tailwind, but margin pressure from elevated fuel and labor costs can quickly offset volume gains for operators without significant pricing power.

The companies best positioned on the other side of this trade remain domestic energy producers. With WTI holding above $100 and summer demand accelerating into a supply-constrained market, independent oil and gas operators in the small cap space continue to benefit from a price environment that shows no structural signs of easing before fall.

The pump price this weekend is $4.56. If the Strait of Hormuz stays closed, it may look cheap by August.

Seanergy Maritime (SHIP) – Adjusting 2026 Estimates

Posted on May 22, 2026May 22, 2026 by [email protected]

Friday, May 22, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Lowering 1Q26 estimates. We have reduced our 1Q26 revenue, adjusted EBITDA, adjusted net income attributable to common shareholders, and EPS estimates to $42.9 million, $23.5 million, $9.5 million, and $0.45, respectively, from prior estimates of $43.9 million, $24.8 million, $10.1 million, and $0.48. The revisions primarily reflect a modest reduction in operating days to 1,696 from 1,700, a lower average daily TCE rate of $24,200 versus $25,100, and higher voyage and G&A expenses, including non-cash stock compensation.

FY26 estimates are mostly unchanged. We now project FY26 revenue, adjusted EBITDA, adjusted net income attributable to common shareholders, and EPS of $182.1 million, $106.7 million, $50.4 million, and $2.40, respectively, compared with prior estimates of $183.2 million, $105.2 million, $50.4 million, and $2.40.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

InPlay Oil (IPOOF) – InPlay Renews Share Buyback Program

Posted on May 22, 2026May 22, 2026 by [email protected]

Friday, May 22, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

TSX approves share repurchase program. InPlay Oil Corp. announced that the Toronto Stock Exchange has approved its normal course issuer bid (NCIB), allowing the company to repurchase and cancel up to 1.79 million common shares, representing 10% of its public float. Purchases may be made through the TSX and other Canadian trading systems beginning May 25, 2026, and ending May 24, 2027, subject to daily purchase limits and applicable securities regulations.

Automatic repurchase plan provides flexibility. An automatic share purchase plan allows for repurchases to continue during self-imposed blackout periods. Outside of blackout periods, management will retain discretion over the timing and amount of share repurchases. Any shares acquired under the program will be canceled, reducing the company’s overall share count.

Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Release – InPlay Receives TSX Approval for Normal Course Issuer Bid

Posted on May 21, 2026May 21, 2026 by [email protected]

May 21, 2026, 07:30 ET

CALGARY, AB, May 20, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (TASE: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company“) is pleased to announce that the Toronto Stock Exchange (“TSX“) has accepted InPlay’s notice of intention to make a normal course issuer bid (the “NCIB“).

Under the NCIB, InPlay may purchase for cancellation, from time to time, as InPlay considers advisable, up to a maximum of 1,793,976 common shares (“Common Shares“), which represents 10% of the Company’s public float of 17,939,761 Common Shares as at May 14, 2026. As of the same date, InPlay had 28,006,416 Common Shares issued and outstanding. Purchases of Common Shares may be made on the open market through the facilities of the TSX and through other alternative Canadian trading systems at the prevailing market price at the time of such transaction. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by InPlay, subject to a maximum daily purchase limitation of 23,004 Common Shares which equates to 25% of InPlay’s average daily trading volume on the TSX of 92,017 Common Shares for the six months ended April 30, 2026. InPlay may make one block purchase per calendar week which exceeds the daily repurchase restrictions. Any Common Shares that are purchased by InPlay under the NCIB will be cancelled.

InPlay has entered into an automatic share purchase plan (“ASPP“) with a broker to facilitate repurchases of the Common Shares. Under the Corporation’s ASPP, the broker may repurchase Common Shares under the NCIB during the Corporation’s self-imposed blackout periods. Purchases will be made by the broker based upon the parameters prescribed by the TSX and applicable securities laws, as well as the terms of the ASPP and the parties’ written agreement. Outside of these blackout periods, Common Shares may be purchased under the NCIB in accordance with management’s discretion.

The NCIB will commence on May 25, 2026 and will terminate on May 24, 2027 or such earlier time as the NCIB is completed or terminated at the option of InPlay.

InPlay’s free cash flow has increased significantly in the current crude oil pricing environment. The Company believes renewing the NCIB is a prudent step in a volatile energy market, particularly during periods when the prevailing market price does not reflect the underlying intrinsic value of its Common Shares. The repurchase and cancellation of Common Shares demonstrates management’s confidence in the Company’s long-term prospects and the sustainability of its business model. By reducing the share count, the NCIB enhances per share metrics for shareholders and provides management with an additional tool within its disciplined capital allocation and shareholder return strategy.

About InPlay Oil Corp.

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 trade on the Toronto Stock Exchange under the symbol “IPO”, the Tel-Aviv Stock Exchange under the symbol “IPO” and the OTCQX under the symbol “IPOOF”.

For further information please contact:

Doug Bartole	Kevin Leonard
President and Chief Executive Officer	Vice President Corporate & Business Development
InPlay Oil Corp.	InPlay Oil Corp.
Telephone: (587) 955-0632	Telephone: (587) 955-0635

Caution Regarding Forward-Looking Statements

This news release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This information includes, but is not limited to InPlay’s intentions with respect to the NCIB and purchases thereunder and the effects of repurchases under the NCIB. Although InPlay believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because InPlay can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions by their very nature they involve inherent risks and uncertainties. Actual results could defer materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in InPlay’s Annual Information Form which has been filed on SEDAR+ and can be accessed at www.sedarplus.com.

The forward-looking statements contained in this press release are made as of the date hereof and InPlay undertakes no obligation to update publically or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE InPlay Oil Corp.