Movers and SHAKERS
InPlay Oil (IPOOF)(IPO:CA)
Better-than-expected results and new credit facility may mean stock has bottomed out
As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Second quarter results beat our lowered expectations. The drop off in production stemming from the curtailment and shut in of wells was not as great as expected. The company was able to lower production costs per unit and SG&A costs by scaling back discretionary spending.
Oil prices have rebounded quicker than expected, and the company is responding. Oil prices rebounded to $40/bbl well ahead of expectations. Management indicated it will begin drilling again in the third quarter and expects to reach pre-COVID production levels by the third quarter ...
This Company Sponsored 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.