Movers and SHAKERS
InPlay Oil (IPOOF)(IPO:CA)
The road to normal
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.
IPO reported operating and financial results in line with expectations. Production of 3,742 boe/d vs. our 3,871 est. Oil prices were slightly below model ($39.51 vs $43.00) but gas prices were above ($2.32 vs $1.52). Sales of $10.8 mm vs. $10.9 mm. LOE of $14.42 vs. $14.18. Earnings of ($2.7 mm)/($0.04) vs. ($3.2 mm)/($0.05). All in all, a very straightforward quarter.
Other developments were preannounced November 2. InPlay's $25 million bank loan is moving forward, a small $1.9 mm tuck-in acquisition closed, 4Q budget includes drilling 3 wells that will move production levels to pre-Covid rates of 5,000 boe/d. Only new development was that a ban on road construction will push drilling and the 5,000 target into the first quarter instead of year end ...
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.