Movers and SHAKERS
InPlay Oil (IPOOF)(IPO:CA)
IPO finalize lending facility, announces small tuck-in acquisition, details 4Q cap spend
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.
InPlay entered into definitive agreements for a $25 million non-revolving four-year loan. IPO previously announced that it had come to terms on the low-interest loan. We believe the loan was a significant development for the company and will provide the liquidity needed to withstand low oil prices.
IPO makes a $1.9 million acquisition in the Pembina basin. The acquisition is small but a good positive indication of management’s interest in the area. The acquisition adds production (up 5%) and drilling acreage. Cost is reasonable and should add to cash flow at current energy prices ...
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.