CALGARY, AB, April 30, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on May 29, 2026, to shareholders of record at the close of business on May 15, 2026. The monthly cash dividend is expected to be designated as an “eligible dividend” for Canadian federal and provincial income tax purposes.
About InPlay Oil Corp. 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, www.inplayoil.com; Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634
HOUSTON, April 29, 2026 /PRNewswire/ — Summit Midstream Corporation (NYSE: SMC) (“Summit”, “SMC” or the “Company”) announced today that it will report operating and financial results for the first quarter of 2026 on Monday, May 11, 2026, after the close of trading on the New York Stock Exchange.
First Quarter 2026 Earnings Call
SMC will host a conference call at 10:00 a.m. Eastern on May 12, 2026, to discuss its quarterly operating and financial results. The call can be accessed via teleconference at: Q1 2026 Summit Midstream Corporation Earnings Conference Call (https://register-conf.media-server.com/register/BI874f39fdf8c54b499c4ac477755fbcad). Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start. The conference call, live webcast and archive of the call can be accessed through the Investors section of SMC’s website at www.summitmidstream.com
Upcoming Investor Conferences
Members of SMC’s senior management team will attend the 2026 Energy Infrastructure CEO & Investor Conference which will take place on May 18–20, 2026, the 2026 RBC Capital Markets Global Energy, Power & Infrastructure Conference taking place on June 2–3, 2026, and the BofA Energy and Power Credit Conference on June 3–4, 2026. The presentation materials associated with this event will be accessible through the Investors section of SMC’s website at www.summitmidstream.com prior to the beginning of the conference.
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), 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 Securities and Exchange Commission (the “SEC”) 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.
Total revenue of $516.0 million, net income of $9.1 million, and Adjusted EBITDA of $155.0 million
2026 expected coal sales volumes over 95% committed and priced at the midpoint of 2026 guidance
Record oil & gas royalty revenues and volumes, up 14.6% and 16.1%, respectively, year-over-year
Completed $16.2 million in oil & gas mineral interest acquisitions during the 2026 Quarter
Total and net leverage ratios as of March 31, 2026, were 0.73 times and 0.69 times, respectively
Declares quarterly cash distribution of $0.60 per unit, or $2.40 per unit annualized
TULSA, Okla.–(BUSINESS WIRE)–Alliance Resource Partners, L.P. (NASDAQ: ARLP) (“ARLP” or the “Partnership”) today reported financial and operating results for the quarter ended March 31, 2026 (the “2026 Quarter”). This release includes comparisons of results to the quarter ended March 31, 2025 (the “2025 Quarter”) and to the quarter ended December 31, 2025 (the “Sequential Quarter”). All references in the text of this release to “net income” refer to “net income attributable to ARLP.” For a definition of Adjusted EBITDA and Segment Adjusted EBITDA Expense and related reconciliations to comparable GAAP financial measures, please see the end of this release.
Total revenues decreased 4.5% to $516.0 million for the 2026 Quarter compared to $540.5 million for the 2025 Quarter primarily due to lower coal sales pricing, partially offset by record oil & gas royalty revenues and higher coal sales volumes. Net income for the 2026 Quarter was $9.1 million, or $0.07 per basic and diluted limited partner unit, compared to $74.0 million, or $0.57 per basic and diluted limited partner unit, for the 2025 Quarter. Net income was impacted by lower coal sales and higher depreciation, as well as an $11.6 million decrease in the fair value of our digital assets and a $37.8 million non-cash asset impairment charge in the 2026 Quarter due to ceasing longwall production and uncertainty regarding future operations at our Mettiki mine. Adjusted EBITDA decreased 3.1% to $155.0 million in the 2026 Quarter compared to $159.9 million in the 2025 Quarter.
Compared to the Sequential Quarter, total revenues decreased by 3.6% due to lower coal sales volumes and prices, partially offset by higher oil & gas royalty revenues. Net income decreased by 89.0% compared to the Sequential Quarter primarily due to lower production and lower coal sales volumes from our Hamilton mine as a result of a planned extended longwall move during the 2026 Quarter that led to higher per ton operating expenses. In addition, increased depreciation, non-cash asset impairment charges at Mettiki and lower investment income contributed to lower net income in the 2026 Quarter. Adjusted EBITDA for the 2026 Quarter decreased by 18.9% compared to the Sequential Quarter primarily due to higher costs at Hamilton and Mettiki.
CEO Commentary
“Most of our coal operations performed better than expected during the quarter, however meaningful weather-related shipment disruptions relating to Winter Storm Fern delayed sales volumes for the quarter,” said Joseph W. Craft III, Chairman, President and Chief Executive Officer. “In the Illinois Basin, increased productivity at River View and Gibson South helped offset some of the impact of the planned extended longwall move at Hamilton. In Appalachia, Tunnel Ridge had production gains of approximately 28% compared to both the 2025 Quarter and the Sequential Quarter, while results at Mettiki reflected lower production and a non-cash impairment associated with ceasing longwall production and uncertainty regarding future operations as previously discussed.”
Mr. Craft added, “We delivered another record quarter in our oil & gas royalties segment, driven by increased production volumes and higher oil prices. Increased drilling and completion activity across our core basins continues to validate the quality of our mineral portfolio, and for the second consecutive quarter, we expanded our portfolio, completing $16.2 million in acquisitions during the quarter. These results underscore the durability of our asset base and reinforce our disciplined approach to allocating capital to attractive, long-lived mineral interests. We believe our oil and gas royalties portfolio enhances our cash flow stability and long-term optionality across commodity cycles.”
Coal Operations
Coal sales volumes decreased by 5.9% in the Illinois Basin compared to the Sequential Quarter due primarily to decreased tons sold from our Hamilton mine as a result of a planned extended longwall move during the 2026 Quarter. In Appalachia, tons sold increased by 3.6% and 8.0% compared to the 2025 Quarter and Sequential Quarter, respectively, primarily as a result of fewer production days in the prior periods at our Tunnel Ridge mine due to longwall moves. Coal sales price per ton sold decreased by 7.4% in the Illinois Basin compared to the 2025 Quarter as a result of the expiration of higher priced legacy contracts. In Appalachia, coal sales price per ton sold decreased by 4.8% and 11.1% compared to the 2025 Quarter and Sequential Quarter, respectively, primarily due to an increased sales mix of lower priced Tunnel Ridge sales volumes in the 2026 Quarter and reduced domestic sales price per ton. ARLP ended the 2026 Quarter with total coal inventory of 1.2 million tons, representing a decrease of 0.2 million tons and an increase of 0.1 million tons compared to the end of the 2025 Quarter and Sequential Quarter, respectively.
Segment Adjusted EBITDA Expense per ton in the Illinois Basin increased 3.4% compared to the Sequential Quarter due primarily to the planned extended longwall move at our Hamilton mine during the 2026 Quarter. In Appalachia, Segment Adjusted EBITDA Expense per ton for the 2026 Quarter decreased by 10.8% compared to the 2025 Quarter as a result of increased production at our Tunnel Ridge operation primarily as a result of fewer production days due to the longwall moves in the 2025 Quarter.
Royalties
Segment Adjusted EBITDA for the Oil & Gas Royalties segment increased to $34.6 million in the 2026 Quarter compared to $29.9 million and $30.0 million in the 2025 Quarter and Sequential Quarter, respectively, due to record oil & gas royalty volumes, which increased 16.1% and 3.3%, respectively, as a result of increased drilling and completion activities on our interests and acquisitions of additional oil & gas mineral interests. Improved commodity pricing also contributed to the increase in Segment Adjusted EBITDA compared to the Sequential Quarter.
Segment Adjusted EBITDA for the Coal Royalties segment increased to $12.3 million in the 2026 Quarter compared to $9.4 million in the 2025 Quarter due to higher royalty tons sold, primarily from Tunnel Ridge, partially offset by lower average royalty rates per ton received from the Partnership’s mining subsidiaries. Compared to the Sequential Quarter, Segment Adjusted EBITDA for the Coal Royalties segment decreased 15.7%, primarily reflecting lower realized royalty rates per ton.
Balance Sheet and Liquidity
As of March 31, 2026, total debt and finance leases were outstanding in the amount of $507.7 million. The Partnership’s total and net leverage ratios were 0.73 times and 0.69 times debt to trailing twelve months Adjusted EBITDA, respectively, as of March 31, 2026. ARLP ended the 2026 Quarter with total liquidity of $431.2 million, which included $28.9 million of cash and cash equivalents and $402.3 million of borrowings available under its revolving credit and accounts receivable securitization facilities. In addition, ARLP held 618 bitcoins valued at $42.2 million as of March 31, 2026.
Distributions
ARLP announced today that the Board of Directors of ARLP’s general partner approved a cash distribution to unitholders for the 2026 Quarter of $0.60 per unit (an annualized rate of $2.40 per unit), payable on May 15, 2026, to all unitholders of record as of the close of trading on May 8, 2026.
Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold ARLP units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100%) of ARLP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. In addition, brokers and nominees should treat one hundred percent (100%) of the distribution as being in excess of cumulative net income for purposes of determining the amount to withhold. Accordingly, ARLP’s distributions to non-U.S. investors are subject to federal income tax withholding at a rate equal to the highest applicable effective tax rate plus ten percent (10%). Nominees, and not ARLP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.
Outlook
“Looking ahead, contracting activity with domestic utility customers for 2026 has remained active, though the pace has varied as some customers continue to evaluate summer burn requirements,” commented Mr. Craft. “During the quarter, the Iran conflict briefly reopened U.S. thermal coal export activity in early March, enabling us to enter into contracts for 1.8 million tons to be delivered in 2026 and 2027. In addition, we sold an additional 0.5 million tons to domestic customers, bringing our sales book to more than 95% committed and priced for 2026 assuming production comes in at the midpoint of our guidance range. Our remaining open position is concentrated in the second half of 2026, where additional commitments will depend on summer burn and customer requirements. More broadly, we continue to see a constructive demand backdrop as growing power demand, particularly from data centers, reinforces the importance of reliable baseload generation.”
Mr. Craft continued, “We expect first quarter shipment disruptions tied to Winter Storm Fern and subsequent high-water conditions to be recovered over the balance of the year. In addition, once the planned longwall moves at Hamilton and Tunnel Ridge are completed in the second quarter, we do not expect any further longwall moves in 2026, which should improve operating visibility for the back half of the year.”
Mr. Craft concluded, “Based on year-to-date outperformance of our oil & gas royalties, we are increasing our volume guidance for the segment. Recent strength and volatility in crude oil prices have increased the near-term outlook and, because our current portfolio is unhedged, changes in market prices are reflected directly in our realized pricing. If current market conditions persist, we would expect realized BOE prices to be higher than last year, contributing to stronger segment results.”
ARLP is updating the following guidance for the full year ending December 31, 2026:
Conference Call
A conference call regarding ARLP’s 2026 Quarter financial results and updated 2026 guidance is scheduled for today at 10:00 a.m. Eastern. To participate in the conference call, dial (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “Investors” section of ARLP’s website at www.arlp.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13759702.
About Alliance Resource Partners, L.P.
ARLP is a diversified natural resource company that is currently the second largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as a reliable energy partner for the future by pursuing opportunities that support the growth and development of energy-related technologies and infrastructure.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at [email protected].
The statements and projections used throughout this release are based on current expectations. These statements and projections are forward-looking, and actual results may differ materially. These projections do not include the potential impact of any mergers, acquisitions or other business combinations that may occur after the date of this release. We have included more information below regarding business risks that could affect our results.
Two of the offshore energy sector’s most recognized names are joining forces. Helix Energy Solutions Group (NYSE: HLX) and Hornbeck Offshore Services have announced a definitive all-stock merger agreement that will create one of the most comprehensive integrated deepwater services companies in the world — and the timing couldn’t be more calculated.
Under the terms of the deal, Hornbeck shareholders will own approximately 55% of the combined company while Helix shareholders retain roughly 45% on a fully diluted basis. The newly formed entity will operate under the Hornbeck Offshore Services name and trade on the New York Stock Exchange under the ticker symbol “HOS.” Todd Hornbeck, currently Chairman, President and CEO of Hornbeck, will lead the combined company, with William Transier serving as Chairman of a seven-member board comprised of three Helix directors and four from Hornbeck.
Why This Deal Makes Strategic Sense
This isn’t a merger of desperation — it’s a merger of expansion. Helix brings deep subsea expertise, well intervention capabilities, and a global robotics fleet with operations spanning the Gulf of America, Brazil, North Sea, West Africa and Asia Pacific. Hornbeck contributes a fleet of technologically advanced, high-specification offshore support vessels with a strong concentration in the Americas, including Brazil and Mexico, along with meaningful exposure to U.S. government and offshore wind contracts.
Together, the combined company covers the entire life cycle of deepwater field operations — from installation and production enhancement to decommissioning — across energy, defense and renewables. That kind of end-to-end service coverage significantly reduces the cyclicality risk that has historically plagued pure-play offshore services companies.
The Numbers Behind the Deal
The transaction is expected to generate $75 million or more in annual revenue and cost synergies within three years of closing. Those synergies will come from integrated service offerings, expanded customer reach and fleet optimization that reduces reliance on expensive third-party vessel charters.
The combined backlog currently stands at approximately $2 billion — split evenly between the two companies — with $1 billion tied to long-term contracts in Hornbeck’s military and specialty vessel segments. That backlog provides meaningful near-term revenue visibility as the integration unfolds.
Helix also reported Q1 2026 revenue of $287.95 million, beating analyst estimates by roughly $24 million, and reiterated full-year 2026 guidance of $1.2 billion to $1.4 billion in revenue with EBITDA projected between $230 million and $290 million. The company closed Q1 with $501 million in cash and just $10 million in funded debt — a balance sheet position that gives the combined entity significant flexibility for organic growth or further M&A post-close.
What to Watch
The merger requires Helix shareholder approval and customary regulatory sign-offs, with closing expected in the second half of 2026. Notably, Ares Management funds, representing a significant portion of Hornbeck’s ownership, have already delivered written consent approving the transaction — removing one of the more common deal-risk variables upfront.
For investors tracking the small and midcap offshore services space, this deal reshapes the competitive landscape. The combined HOS will be a scaled, diversified operator in a sector where scale increasingly determines who wins long-term contracts and who gets squeezed out.
The deepwater services consolidation wave continues — and this merger puts the new Hornbeck Offshore squarely at its center.
West Texas Intermediate crossed $104 per barrel Monday morning as the U.S. formally blockaded the Strait of Hormuz, putting an official military stamp on a crisis that has already cut the waterway’s commercial traffic by more than 90% since late February. Oil has surged more than 55% since the U.S.-Israel air campaign against Iran began. The large-cap conversation around this move centers on inflation, rate policy, and Big Oil earnings. The small-cap opportunity underneath it is considerably more specific — and considerably less crowded.
Domestic energy producers don’t carry the insurance exposure, rerouting costs, or geopolitical risk that’s hammering international supply chains. When global energy flows are disrupted at the source — and the Strait of Hormuz handles roughly 25% of the world’s seaborne oil and 20% of global LNG exports — the demand vacuum gets filled by producers operating entirely outside the conflict zone. U.S. domestic natural gas producers, onshore oil operators, and domestic refiners are each collecting a demand premium that didn’t exist eight weeks ago.
The LNG dynamic is particularly important for small-cap energy investors. Qatar and the UAE supply a substantial share of LNG to Asian buyers. With Qatari LNG facilities struck by Iranian drones and Gulf shipping lanes effectively closed, Asian markets are competing aggressively for alternative supply — pulling from U.S. export terminals at a pace that is tightening the domestic natural gas market. That demand surge is landing at exactly the moment AI infrastructure is driving electricity consumption higher. Data centers require massive volumes of consistent baseload power, and natural gas remains the backbone of that grid in the United States. The theoretical “AI-Energy Nexus” that analysts have been discussing is no longer theoretical — it is being forced into reality by a geopolitical event that knocked out the world’s primary LNG export corridor.
Domestic refiners are in a comparably favorable position. With crude prices elevated and refining margins widening as global capacity strains, mid-size operators processing domestic crude are capturing spread that simply wasn’t available in a $70-per-barrel world. Large-cap refining names have already moved. Many small and microcap upstream producers with pure domestic production profiles have lagged the repricing — a pattern that historically corrects as the supply story matures and investors rotate down the market cap spectrum.
The broader implications extend beyond hydrocarbons. The Hormuz crisis is accelerating a policy conversation with real capital allocation consequences: the shift from “green energy” to “secure energy.” Nuclear, domestic grid hardening, and U.S.-based energy infrastructure are being reconsidered as national security imperatives rather than purely climate investments. That reframing is attracting new institutional attention to sectors that were previously viewed as transitional.
The primary risk is speed. A diplomatic breakthrough or a durable ceasefire could reverse oil toward the $80 range and compress margins that have only recently expanded. Energy executives are warning, however, that even if the Strait reopens, infrastructure damage and the global shipping backlog could take months to fully unwind — putting a floor under the repricing that has already occurred.
For investors focused on the small and microcap space, the Hormuz crisis is not just an oil price story. It is a structural demand signal for domestic producers operating in a global market that suddenly cannot source enough of what they have.
TULSA, Okla.–(BUSINESS WIRE)–Alliance Resource Partners, L.P. (NASDAQ: ARLP) will report its first quarter 2026 financial results before the market opens on Monday, April 27, 2026. Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.
To participate in the conference call, dial U.S. Toll Free (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “Investors” section of ARLP’s website at www.arlp.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13759702.
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the second largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as a reliable energy partner for the future by pursuing opportunities that support the growth and development of energy and related infrastructure.
News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at [email protected].
Contacts
Investor Relations Contact
Cary P. Marshall Senior Vice President and Chief Financial Officer (918) 295-7673 [email protected]
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.
Updating 1Q 2026 estimates. We have lowered our 1Q and FY 2026 EPU estimates to $(0.02) and $2.20, respectively, from $0.61 and $2.60. We have marked-to-market ARLP’s holding of bitcoins, which amounted to 592 bitcoins as of year-end 2025. The price of bitcoin closed at $87,508.83 on December 31, 2025, compared to $68,233.31 on March 31. We anticipate that the value of digital assets in Q1 2026 could decrease by approximately $11.4 million if all bitcoins were held through the end of the first quarter. Because it would represent a non-cash unrealized loss, it has no impact on our adjusted EBITDA estimate. Moreover, our EPU estimate reflects a non-cash impairment charge of $43 million related to a decision to cease longwall production at the Mettiki Mining complex, although it has no impact on our adjusted EBITDA estimate.
FY 2026 estimates. We have also adjusted the cadence of coal sales throughout the year, with lower volumes in the first quarter, along with higher segment adjusted EBITDA expense per ton. While we have lowered our FY 2026 EPU estimates, our adjusted EBITDA estimate declined only modestly to $708.3 million from $708.4 million due, in part, because our estimates reflect greater tonnage in the second half of the year when adjusted EBITDA expense per ton is lower, and margins are stronger. Quarterly coal sales volume is expected to be lowest in the first quarter, increase modestly in the second, and peak in the back half as longwall move disruptions abate.
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*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.
CALGARY, AB, April 1, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on April 30, 2026, to shareholders of record at the close of business on April 15, 2026. The monthly cash dividend is expected to be designated as an “eligible dividend” for Canadian federal and provincial income tax purposes.
About InPlay Oil Corp. 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, www.inplayoil.com; Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634
The Trump administration has agreed to refund $1 billion in offshore wind lease fees to French energy giant TotalEnergies, effectively paying the company to abandon two major U.S. wind projects and redirect that capital into oil, gas, and liquefied natural gas development. The move marks one of the most aggressive — and costly — steps yet in the administration’s campaign to dismantle the offshore wind industry built up under the Biden era.
The Department of Interior announced Monday that TotalEnergies will surrender its leases for planned offshore wind projects off the coasts of North Carolina and New York. In exchange, the company will receive reimbursement up to the full amount it paid to acquire those leases. TotalEnergies has also pledged not to pursue any new offshore wind development in the United States. The refunded capital will be redirected toward the construction of a liquefied natural gas facility in Texas and the expansion of the company’s broader U.S. oil and gas portfolio.
For context, TotalEnergies paid roughly $133,000 for the North Carolina lease and approximately $795,000 for the New York and New Jersey lease — both purchased in 2022 during the height of the Biden administration’s offshore wind push. The Carolina Long Bay project had been designed to generate over one gigawatt of power, enough to supply roughly 300,000 homes. The New York project was even larger, with a planned capacity of three gigawatts capable of powering close to one million homes.
The deal raises immediate questions about the use of public funds. Environmental advocates were quick to characterize it as taxpayer money being spent to eliminate clean energy capacity rather than build it — particularly at a moment when the Iran conflict has sent oil prices surging and renewed global debate about energy security and diversification.
This transaction also comes after the administration’s earlier attempts to halt offshore wind construction were struck down by federal courts. Judges overturned executive orders that had targeted five major East Coast wind projects on national security grounds, allowing construction to continue. The TotalEnergies deal appears to signal a strategic pivot — using financial settlements to achieve what legal orders could not.
The broader energy policy picture is shifting rapidly. Ironically, on the same day this deal was announced, one of the offshore wind farms previously targeted by the administration — Coastal Virginia Offshore Wind — began delivering power to the Virginia grid. The developer, Dominion Energy, confirmed the milestone, underscoring the fact that the offshore wind industry, despite significant political headwinds, continues to advance.
For investors in the small and microcap energy space, the implications cut both ways. Companies with exposure to LNG infrastructure, domestic oil and gas development, and fossil fuel supply chains stand to benefit from the administration’s policy direction and capital reallocation. On the other side, smaller renewable energy developers and wind supply chain companies face an increasingly hostile regulatory and financial environment in the U.S., even as offshore wind capacity expands globally — with China leading the world in new installations.
The $1 billion question is whether this deal represents a one-time settlement or the beginning of a broader pattern of government-funded exits from the U.S. renewable energy sector.
CALGARY, AB, March 5, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2025, along with the results of its independent oil and gas reserves evaluation effective December 31, 2025 (the “Reserve Report”) prepared by GLJ Ltd. (“GLJ”). InPlay’s audited annual financial statements and notes, and Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2025 will be available at “www.sedarplus.ca” and the Company’s website at “www.inplayoil.com“. An updated corporate presentation will be available on our website in due course.
Message to Shareholders:
InPlay’s 2025 fiscal year marked a truly transformational chapter in the Company’s history, highlighted by the successful completion of the highly accretive April 2025 acquisition of Pembina assets in our core focus area. This strategic transaction significantly strengthened our already robust drilling inventory, expanded our operational scale, increased our ability to generate meaningful free adjusted funds flow (“FAFF”)(4) and enhanced the long-term sustainability and depth of our asset base.
InPlay’s long-term strategy is anchored in disciplined capital allocation, driving sustainable organic growth while pursuing strategic, accretive acquisitions; an approach supported by the Company’s proven track record of execution. InPlay has never been better positioned to advance this two-pronged growth strategy. The Company’s foundation was further strengthened in 2025 with the addition of Delek Group Ltd. (“Delek”) as a strategically aligned 32.7% shareholder. Delek has a strong history of value creation in the international energy markets with significant investments in the North Sea (Ithaca Energy plc) and the Mediterranean (NewMed Energy). Delek identified Canada as a stable and attractive jurisdiction with compelling return potential, positioning InPlay as a natural extension of its global energy investment strategy. Delek’s investment enhances InPlay’s financial strength and strategic flexibility, providing access to additional capital and alternative funding sources to support the Company’s growth strategy. Delek played a pivotal role in introducing InPlay to the Israeli capital markets and supporting the successful completion of the Company’s oversubscribed senior unsecured bond offering in February 2026. The offering was completed at an attractive cost of capital of 6.23%, further strengthening InPlay’s balance sheet and liquidity profile. InPlay looks forward to working closely with Delek to execute its long-term strategy of building a sustainable, growth-oriented Canadian oil and gas company focused on delivering top tier returns to shareholders.
During 2025, InPlay remained focused on operational execution, disciplined capital allocation and prioritizing FAFF while continuing to return capital to shareholders and pay down debt. Adjusted Funds Flow(2) (“AFF”) increased by 67% in 2025, delivering FAFF of $62 million. These results were achieved despite a 14% decline in WTI pricing, demonstrating the resilience and capital efficient nature of our light oil asset base. FAFF yield at year end was 18% (one of the highest in our peer group), dividends paid to shareholders were $27.1 million and debt repayment of $36 million post-acquisition close on April 7, 2025. The Company capitalized on its operational excellence to generate strong capital efficiencies during our 2025 capital program. Our team delivered some of the strongest-performing Cardium wells in 2025 with payouts averaging approximately seven months, underscoring the quality of our inventory and technical execution capabilities. This strong operational performance enabled us to increase production guidance over the course of the year while simultaneously reducing capital expenditures.
The Company’s exceptional 2025 reserve results reflect both the impact of the acquisition and strong operating results achieved during the year. Proved Developed Producing (“PDP”) reserves increased 179%, while a long reserve life index continues to underpin a low decline, high FAFF generating asset base. Despite a material year-over-year decrease in the benchmark Edmonton light oil price used in the Reserve Report (20% in 2026, 14% in 2027, 9% thereafter), the Company increased its Total Proved (“TP”) and Total Proved plus Probable (“TPP”) net asset value to $30.16/share and $44.02/share respectively, underscoring the significant intrinsic value embedded in our assets relative to current market levels.
Looking forward, InPlay is exceptionally well positioned to continue to execute key operational priorities, disciplined capital allocation and maximizing FAFF while continuing to return capital to shareholders. As announced on February 24, 2026, InPlay’s Board of Directors approved a 2026 capital budget of $66 – $74 million to drill 12 – 14 net horizontal Cardium wells. This program is forecast to result in annual average production of 18,600 – 19,200 boe/d(1) (60% – 62% light crude oil and NGLs), an 11% increase over 2025, resulting in a FAFF yield(4) of 11% – 15% (expected to be top tier amongst peers). The capital program is designed to be flexible and responsibly manage the pace of development, maintain operational and financial strength while remaining focused on delivering return of capital to shareholders.
2025 Financial and Operating Highlights:
Closed a transformational acquisition of Cardium-focused light oil assets in Pembina at highly accretive acquisition metrics (+45% AFF/share(3), +65% FAFF/share(3)), improving the Company’s sustainability through a lower decline rate, strong reserve life index and increased tier one drilling locations.
Achieved average annual production of 17,043 boe/d(1) (61% light crude oil and NGLs), a 96% increase from 2024.
Improved light oil production to 8,143 bbl/d, a 131% increase from 2024 and a 160% increase Q4 2025 over Q4 2024. Light crude oil weighting improved 20% from 2024.
Realized strong operating income of $144.1 million, a 75% increase from 2024, which resulted in an operating income profit margin(4) of 49%.
Generated AFF(2) of $114.4 million ($4.68 per weighted average basic share(3)), a 67% increase from 2024 despite a 14% decrease in WTI prices. Fourth quarter AFF totaled $30.7 million ($1.10 per weighted average basic share(3)), a 64% increase from 2024 even as WTI prices declined 16%. Fourth quarter AFF also increased 15% over Q3 2025.
Delivered FAFF of $62 million and distributed $27.1 million in dividends, equating to a 18% FAFF yield(4) and 8.7% dividend yield relative to year-end market capitalization. Since November 2022, total dividends distributed amounted to $69.7 million ($3.69 per share, including dividends declared to date in 2026).
Invested $52 million in development capital which was $1 million below the lower end of our May post-acquisition 2025 capital budget of $53 – $60 million and 17% less than 2024. Due to capital efficiencies, disciplined spending, and well outperformance, capital was 35% lower than our original capital forecast of $80 million on announcement on February 2025 to achieve production guidance.
Repaid $35 million of net debt from closing of the Pembina acquisition on April 7, 2025.
2025 Reserves Highlights(1):
InPlay’s capital efficient 2025 drilling program and accretive Pembina asset acquisition resulted in strong reserve results for 2025:
PDP reserves of 48,002 mboe (60% light and medium crude oil & NGLs), 179% increase from 2024.
TP reserves of 90,987 mboe (64% light and medium crude oil & NGLs), 107% increase from 2024.
TPP reserves of 119,937 mboe (64% light and medium crude oil & NGLs), 104% increase from 2024.
Achieved NPV BT10 reserve values(1) and Net Asset Value (“NAV”) per share of:
PDP: $594 million; $14.69/share
TP: $1,025 million; $30.16/share
TPP: $1,411 million; $44.02/share
Reserves life index (“RLI”)(2) of:
PDP: 7.0 years
TP: 13.2 years
TPP: 17.4 years
Delivered Finding, Development and Acquisition (“FD&A”) costs (including changes in future development costs) and recycle ratios(3) of:
PDP: $9.22/boe; 2.5x
TP: $12.96/boe; 1.8x
TPP: $10.65/boe; 2.2x
Replaced reserves(4) by:
PDP: 595%
TP: 857%
TPP: 1,084%
2025 development capital program (excluding acquisitions) added new light oil weighted production at a capital efficiency of $21,333 per boe/d
2026 Subsequent Event:
In February, InPlay closed an oversubscribed offering of senior unsecured bonds for total gross proceeds of C$242 million maturing on December 15, 2030 at an attractive interest rate of 6.23%. This bond is expected to reduce our cost of capital while diversifying the Company’s financing sources. Following the bond issuance, InPlay repaid and retired its term loan. The Company is now positioned with $190 million of available capacity on its fully undrawn revolving credit facility. Additionally, InPlay successfully mitigated exposure to fluctuations in the CAD/NIS exchange rate associated with the NIS-denominated senior unsecured bonds through the execution of foreign exchange hedging arrangements that fully cover all projected cash outflows, including principal repayments, over the next four years.
Financial and Operating Results:
2025 Financial & Operations Overview:
Our 2025 results are highlighted by our accretive acquisition of Pembina assets in April 2025, disciplined capital allocation and delivery of strong returns to shareholders. The acquisition was financed with an increase to our credit facilities, issuance of common shares and an oversubscribed $33.8 million bought deal equity financing.
We executed our capital program under budget, generated meaningful adjusted funds flow, returned $27.1 million to shareholders and paid down $35 million of net debt from closing of the Pembina acquisition on April 7, 2025. Production averaged 17,043 boe/d(1) (61% light crude oil & NGLs) in 2025 and 19,589 boe/d (61% light crude oil & NGLs) in the fourth quarter of 2025.
InPlay’s capital program for 2025 consisted of $52 million of exploration and development capital. Efficient operational execution in 2025 led to capital expenditures coming in $1 million below the low end of our May post-acquisition budget of $53 – $60 million and approximately 17% less than 2024 when production averaged 8,712 boe/d. The Company drilled, completed and brought on production ten (8.2 net) extended reach horizontal (“ERH”) Cardium wells during the year and completed a significant operated gas plant expansion and other facility projects. InPlay also spent $4.2 million on the successful abandonment of 31 wellbores, 90 pipelines and the reclamation of 32 well sites.
InPlay generated AFF of $114.4 million ($4.68 per basic share) during 2025 a 67% increase from 2024. These results were achieved despite a 14% decline in WTI pricing and lower than forecasted natural gas prices. Approximately $62 million in FAFF was generated resulting in a FAFF yield of 18%, evidencing our strong ability to generate meaningful FAFF.
Low crude oil prices during the year impacted the Company’s financial results with WTI decreasing 14% compared to 2024. This resulted in a 16% decrease from 2024 to our realized oil sales price, which was partially offset by realized hedging gains in the later part of the year. Significantly lower natural gas prices also impacted financial results offset with meaningful hedging gains realized throughout the year.
Operations Update:
In 2025, InPlay had one of our strongest drilling campaigns in the Company’s history. In the fourth quarter of 2025, InPlay continued its operational momentum by bringing on production five (5.0 net) operated wells. On average, the five wells delivered initial production (“IP”) rates of 429 boe/d (72% light crude oil and NGLs) per well over their first 90 days of production, approximately 66% above internal forecasts. The Company’s 2025 drilling program for the second half of 2025 continues to generate substantial returns for the Company through strong IP rates.
InPlay’s capital program for 2026 is underway with two (2.0 net) ERH wells being drilled to date which have recently come on production and are in the early cleanup stage. InPlay has also started drilling operations on a three (3.0 net) ERH well-pad which is expected to come on-line at the end of March. Approximately 7 – 9 net horizontal wells are planned for the remainder of the year, with most of the capital spend and production coming on-line from these wells in the second half of 2026.
Corporate Reserves Information:
The following summarizes certain information contained in the Reserve Report. The Reserve Report was prepared in accordance with the definitions, standards and procedures contained in the COGE Handbook and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (“NI 51-101”). Additional reserve information as required under NI 51-101 will be included in the Company’s Annual Information Form (“AIF”) which will be filed on SEDAR+ by the end of March 2026.
Net Present Values of Reserves:
InPlay achieved strong before tax estimated net present values (“NPV”) of future net revenues associated with our 2025 year-end reserves discounted at 10% (“NPV BT10”), although impacted by weaker future commodity prices in comparison to December 31, 2024 (refer to table below). The Company achieved NPV BT10 reserve values of $594 million (PDP), $1,025 million (TP) and $1,411 million (TPP) based on the three independent reserve evaluator average pricing, cost forecast and foreign exchange rates as at December 31, 2025 used in the Reserve Report. Commodity price decreases in the 2025 year-end reserve report compared to 2024 were as follows:
Future Development Costs (“FDCs”):
The following FDCs are included in the 2025 Reserve Report:
The $862 million of total FDC in the Total Proved and Probable Reserve Report generates approximately $710 million in future net present value discounted at 10%.
Performance Measures:
Pricing Assumptions:
The following tables set forth the benchmark reference prices, as at December 31, 2025, reflected in the Reserve Report. These price and cost assumptions were an arithmetic average of the price forecasts of three independent reserve evaluator’s (Sproule, McDaniel & Associates Consultants Ltd. and GLJ Ltd.) then current forecast and GLJ’s foreign exchange rate forecast at the effective date of the Reserve Report.
SUMMARY OF PRICING AND INFLATION RATE ASSUMPTIONS (1) as of December 31, 2025 FORECAST PRICES AND COSTS
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
HOUSTON, Feb. 27, 2026 /PRNewswire/ — Summit Midstream Corporation (NYSE: SMC) (“Summit”, “SMC” or the “Company”) announced today that it will report operating and financial results for the fourth quarter of 2025 on Monday, March 16, 2026, after the close of trading on the New York Stock Exchange.
Fourth Quarter 2025 Earnings Call Information
SMC will host a conference call at 10:00 a.m. Eastern on March 17, 2026, to discuss its quarterly operating and financial results. The call can be accessed via teleconference at the following link: Q4 2025 Summit Midstream Corporation Earnings Conference Call (https://register-conf.media-server.com/register/BI12ac80a058874aaa998fdc335346beed). Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start. The conference call, live webcast and archive of the call can be accessed through the Investors section of SMC’s website at www.summitmidstream.com.
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), 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 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2025, 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.
CALGARY AB, Feb. 24, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces that its Board of Directors have approved a capital program of $66 – $74 million for 2026.
InPlay had a stellar 2025 with an accretive and transformational acquisition in our core area and a very successful drilling program. Throughout 2025, InPlay delivered improved capital efficiencies through the successful application of enhanced drilling and completion techniques, driving production results that exceeded internally modelled type curves while achieving well costs below budget. InPlay’s improved capital efficiencies allowed the Company to increase its production guidance three times during 2025 with reduced capital spending.
InPlay’s 2026 capital budget reflects a disciplined and capital efficient program focused on strong production growth, maximizing Free Adjusted Funds Flow (“FAFF”)(2) and debt reduction. The Company plans to drill 12 – 14 net horizontal Cardium wells during 2026, with the majority of capital directed toward its Cardium-focused light oil assets in Pembina. InPlay’s 2026 capital budget reflects the improved capital efficiencies realized in 2025.
Key highlights of the 2026 capital program include:
Production Growth:
Forecasted average annual production of 18,600 – 19,200 boe/d(1) (60% – 62% light oil and NGLs), an 11% increase (based on mid-point) compared to estimated 2025, driven by:
Low corporate base decline rate of 22% due to the favorable decline profile;
Strong corporate netbacks driven by high oil and liquids weighting; and
Enhanced capital efficiencies from high graded drilling inventory.
FAFF Generation and Dividend Sustainability:
AFF(2) of $122 – $129 million;
FAFF of $48 – $63 million equating to a 11% – 15% FAFF Yield(3). FAFF exceeds the base annual dividend of $30 million (based on the current monthly dividend rate of $0.09/share or $1.08/share annualized) insulating the Company in the event of commodity price fluctuations.
InPlay’s dividend represents a dividend yield of approximately 7.0% at the current share price.
Debt Reduction:
Excess FAFF(3) is planned to be used to reduce debt;
Year-end Net Debt(2) of $199 – $206 million.
InPlay currently has forecasted commodity pricing similar to peers who have previously released 2026 guidance. To mitigate downside risk, InPlay has implemented a comprehensive hedging program providing protection against current market volatility. Details of the Company’s current hedges are provided in the “Hedging Summary” section of the Reader Advisories.
The table below outlines InPlay’s 2026 guidance:
In the first quarter of 2026, the Company plans to have its most active capital spend quarter of the year with five (5.0 net) horizontal wells being drilled. To date, InPlay has drilled and recently completed a two (2.0 net) ERH well-pad which have recently come on production. InPlay has also started drilling operations on a three (3.0 net) ERH well-pad which is expected to come on-line at the end of March. The majority of the capital spend on the remaining 7 – 9 net horizontal wells planned for the year is expected to occur in the second half of 2026.
InPlay continues to closely monitor global trade, geopolitical and commodity dynamics, proactively evaluating capital plans in response to pricing volatility, inflationary cost pressures, and other factors affecting the business. The Company will remain flexible and make decisions based on our core strategy of disciplined capital allocation, maintaining financial strength to ensure the long term sustainability of our strategy and return to shareholder program. Should commodity prices improve and stabilize, the Company will remain disciplined and flexible, with the ability to swiftly adjust its capital activity to align with evolving market conditions.
2025 Update
The Company is finalizing its results for 2025 and expects to achieve production of approximately 17,000 boe/d(1) (61% light crude oil and liquids) in line with the mid-point of our last forecast of 16,900 – 17,100 boe/d and 600 boe/d ahead of the mid-point of our original post acquisition forecast of 16,000 – 16,800 boe/d. In comparison to average production of 8,712 boe/d in 2024, production increased by approximately 95% in 2025.
Looking ahead after a transformation year with efficient capital spending, we remain focused on continued profitable development of our high-return asset base and are committed to delivering strong returns to shareholders through 2026 and beyond. On behalf of the management team and Board of Directors, we extend our gratitude to our employees, shareholders and bondholders for their support of the Company and the Canadian oil and gas industry.
CALGARY, AB, Feb. 11, 2026 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company“) is pleased to announce that it has completed its previously announced offering of 550 million New Israeli Shekels (“NIS“) (CAD$242 million) principal amount of senior unsecured bonds (the “Bonds“) in Israel (the “Offering“). The Bonds bear interest at a rate of 6.23% per annum and are due December 15, 2030.
InPlay is also pleased to announce that it has completed the listing of its common shares (“Common Shares“) and the Bonds on the Tel Aviv Stock Exchange (“TASE“). The Common Shares and the Bonds are expected to commence trading on the TASE on February 11, 2026 under the symbols IPO and IPO.B1, respectively.
InPlay intends to use the net proceeds from the Offering to repay the amount owing under the Company’s $110 million two-year amortizing term loan (CAD$93.0 million as at December 31, 2025), temporarily reduce, on a non permanent basis, amounts drawn under the Company’s approximately $190 million revolving credit facility (CAD$129.1 million as at December 31, 2025), to pay transaction expenses and/or for general corporate purposes.
The Bonds are denominated in NIS and interest will be payable semi-annually. In addition, three amortization payments of 6% of the principal amount of the Bonds will be due on December 15th of 2027, 2028 and 2029. Payment of principal and interest will not be linked to CAD. InPlay may, subject to certain conditions, at any time no earlier than sixty (60) days after the Bonds are listed on the TASE and at its sole discretion, redeem the Bonds in a full or partial early redemption. InPlay intends to be proactive in hedging its exposure to fluctuations in the CAD to NIS exchange rate.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
This press release is not an offer of securities of the Company for sale in the United States or Canada. The Bonds have not and will not be registered under the U.S. Securities Act of 1933, as amended, nor qualified for distribution in Canada. The Bonds may not be offered or sold to a resident of Canada or for the benefit of a resident of Canada nor may they be sold in the United States except as pursuant to an applicable exemption from its registration requirements. No public offering of securities is being made in the United States or Canada.
About InPlay Oil Corp.
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. The Common Shares trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.
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) 955-0634
CURRENCY
NIS refers to New Israeli Shekels and CAD refers to Canadian Dollars. In this press release, unless otherwise explicitly written, the conversion of NIS to CAD is based on the base rate of NIS 2.27 for CAD$1.00.
FORWARD LOOKING STATEMENTS
This document contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends”, “forecast” and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this document contains forward-looking information and statements pertaining to the following: the Company’s business strategy, milestones and objectives; the intended use of proceeds of the Offering; the impact of the Offering on the Company; and InPlay’s expectations regarding managing its currency exposure.
Forward-looking statements or information are based on a number of material factors, expectations or assumptions of InPlay which have been used to develop such statements and information, but which may prove to be incorrect. Although InPlay believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because InPlay can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: InPlay’s ability to manage currency exposure; the current U.S. economic, regulatory and/or trade policies; the impact of increasing competition; the general stability of the economic and political environment in which InPlay operates; the timely receipt of any required regulatory approvals; the ability of InPlay to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which InPlay has an interest in to operate the field in a safe, efficient and effective manner; the ongoing impact of the Russia/Ukraine conflict and war in the Middle East; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; and the ability of InPlay to successfully market its oil and natural gas products. The forward-looking information and statements included herein are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward-looking information or statements including, without limitation: changes in industry regulations and legislation (including, but not limited to, tax laws, royalties, and environmental regulations); changes in industry regulations and legislation (including, but not limited to, tax laws, royalties, and environmental regulations); that (i) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S., will trigger a broader global trade war which could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company, including by decreasing demand for (and the price of) oil and natural gas, disrupting supply chains, increasing costs, causing volatility in global financial markets, and limiting access to financing; the continuing impact of the Russia/Ukraine conflict and war in the Middle East; potential changes to U.S. economic, regulatory and/or trade policies as a result of a change in government; inflation and the risk of a global recession; changes in our planned capital program; changes in our approach to shareholder returns; changes in commodity prices and other assumptions outlined herein; the potential for variation in the quality of the reservoirs in which InPlay operates; changes in the demand for or supply of InPlay’s products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans or strategies of InPlay or by third party operators of InPlay’s properties; changes in InPlay’s credit structure, increased debt levels or debt service requirements; inaccurate estimation of InPlay’s light crude oil and natural gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in InPlay’s continuous disclosure documents filed on SEDAR+ including InPlay’s Annual Information Form dated March 31, 2025 and the annual management’s discussion & analysis for the year ended December 31, 2024.
The forward-looking statements contained in this document speak only as of the date hereof and InPlay does not assume any obligation to publicly update or revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
READER ADVISORY
NO SECURITIES REGULATORY AUTHORITY HAS EXPRESSED AN OPINION ABOUT THE BONDS AND IT IS AN OFFENCE TO CLAIM OTHERWISE. THE OFFERING CONSTITUTES A PUBLIC OFFERING FOR INVESTORS OF THE BONDS ONLY IN THOSE JURISDICTIONS WHERE THEY MAY LAWFULLY BE OFFERED FOR SALE AND THEREIN ONLY BY PERSONS PERMITTED TO SELL SUCH BONDS. THE BONDS HAVE NOT BEEN, AND WILL NOT BE, QUALIFIED FOR DISTRIBUTION IN ANY JURISDICTION OF CANADA AND MAY NOT BE OFFERED, SOLD, OR DELIVERED DIRECTLY OR INDIRECTLY IN ANY JURISDICTION OF CANADA OR TO RESIDENTS OF CANADA.
NO ADVERTISEMENT, SOLICITATION OR NEGOTIATION DIRECTLY OR INDIRECTLY IN FURTHERANCE OF ANY SALES OF THE BONDS DESCRIBED IN THIS PRESS RELEASE HAS OCCURRED OR WILL OCCUR IN CANADA. BY PURCHASING THE BONDS, EACH PURCHASER REPRESENTS AND WARRANTS TO THE COMPANY THAT SUCH PURCHASER IS NOT A RESIDENT OF CANADA AND THAT SUCH PURCHASER DOES NOT HAVE ANY INTENTION TO DISTRIBUTE SUCH BONDS IN CANADA OR HOLD SUCH BONDS FOR THE BENEFIT OF RESIDENTS OF CANADA.
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