Wednesday, March 10, 2021
InPlay Oil (IPOOF)(IPO:CA)
Estimates Raised to Reflect New Price Deck
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.
We are raising our oil price estimates. We have increased our 2020-4Q WTI oil price estimate to $55 from $45 and our 2021 WTI oil price estimate to $60 from $50. Our long-term oil price forecast remains at $50. IPOOF is expected to release 4Q and 2020 results on March 17.
Higher oil prices means higher revenues and earnings. We are increasing our 2020-4Q revenues and earnings estimate to C$14.5 million (up from C$11.9 million) and C$0.00 per share (up from -C$0.04), respectively. We are also increasing our 2021 revenue and earnings estimates to C$70.5 million (up from C$62.3) and C$0.14 per share (up from -C$0.10) …
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.
