InPlay Oil (IPOOF) Update - March 23

[dan_s]

I spent most of the day working on InPlay Oil, including a 45 minute live webinar call with Doug Bartole. I've known Doug for almost ten years and I have never seen him so bullish. If WTI averages $90US/bbl this year, InPlay will have ZERO net debt by Q4 2022 and production should be over 10,500 Boe per day heading into 2023.

Based on my forecast/valuation model, using a valuation multiple of just 5X 2021-2023 annualized operating cash flow my updated valuation is $7.25Cdn/share that translates to $5.80US/share for IPOOF.

A 5X multiple of operating cash flow is VERY LOW for a debt free upstream company that has more than 20% annual production growth locked in and a reserve life index of 28 years.

We will send out an updated profile on InPlay tomorrow morning and it will be posted to the EPG website tonight.

[Fraser921]

Wow

He also said he expects multiple expansion

[dan_s]

Here is my link to the webinar hosted by InPlay Oil.
https://event.on24.com/eventRegistratio ... ode=launch

I think you will get more out of the webinar if you read our profile on InPlay first. It is being sent to all EPG members at 7AM on March 24 or you can view it directly from our website.

My current valuation of IPOOF is $5.80US, but if you watch the replay above I think you will see that this stock has a lot more upside for us.