Tuesday, February 11, 2020

InPlay Oil (IPO:CA)

Canadian Producer Is Growing Through The Drill Bit, Even In a Low-Price Environment

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.

Cardium play in western Canada offer attractive returns even at current prices. InPlay generates positive operating cash flow sufficient to fund an active drilling program. Its debt levels are modest for a company of its size (net debt of $52 million) and its liquidity is adequate ($75 million credit facility).

Growing production in a challenging environment. Production grew 22% in 2018 and 7% in 2019 despite the sale of assets and a reduction in capital investments. Management projects growth of 6-10% in 2020. The company has regularly replaced 150% of its...

This Company Sponored 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.