InPlay Oil (IPOOF) Update - April 10

[dan_s]

I just finished my review of the updated profile for InPlay Oil, one of my best picks EVER. Up over 800% in two years.

IPO.TO is trading at $2.80Cdn this morning. My updated valuation is $7.67Cdn or $5.75US per share for IPOOF.

The PV10 Net Asset Value of just InPlay's P1 reserves based on their audited 12-31-2022 balance sheet is $7.20Cdn per share. < In Canada, upstream companies use projected future oil & gas prices to estimate PV10 NAV. In the U.S. the SEC requires the public companies to use the average prices over the last 12 months.
> InPlay now has a SUPER STRONG BALANCE SHEET and is funding all D&C capex with operating cash flow.
> Year-over-year production growth was 58% in 2022 and their conservative guidance is for YOY production growth of 10% for many years to come.
> InPlay now pays monthly dividends, and it is funding a stock repurchase program.
> The Company has lots of "running room" in both the Pembina and Willesden Green core areas.
> They hold 16,750 net acres in the East Basin Duvernay Shale Play, an emerging light oil play that is not included in my valuation.

InPlay is going to host a Houston luncheon for us on April 19th. You can register to attend on our website.