Latest news with #DougBartole
Cision Canada
04-08-2025
- Business
- Cision Canada
InPlay Oil Corp. Welcomes Delek Group
CALGARY, AB, Aug. 3, 2025 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (" InPlay" or the " Company") announces that Obsidian Energy Ltd. (" Obsidian") has entered into a definitive agreement with Delek Group Ltd. (" Delek") in respect of the sale of all 9,139,784 common shares (" Common Shares") in the capital of InPlay currently held by Obsidian (the " Transaction"). "We are thrilled to welcome the Delek Group to our organization as part of their impressive oil and gas portfolio," said Doug Bartole, President and CEO of InPlay Oil Corp. "Delek holds a 45% working interest in the largest natural gas field in the Mediterranean, with an estimated 23 TCF of recoverable natural gas. They have also played a key role in the growth of Ithaca Energy plc, where they hold a 52% equity stake, increasing production from 30,000 boe/d to over 120,000 boe/d since their initial investment. We look forward to partnering with Delek to continue building InPlay into a long-term, sustainable, growth-oriented Canadian oil and gas producer, with a strong focus on per-share growth and consistent returns to shareholders." "Delek is excited to partner with InPlay as our investment in the Canadian energy sector," said Ehud (Udi) Erez, Chairman of the Board of the Delek Group. "We identified Canada as a strong and stable jurisdiction for our oil and gas investment, and InPlay stood out with its dynamic team and deep expertise in the Canadian market. InPlay has built a formidable track record through strong operational performance and strategic, accretive acquisitions. We look forward to seeing InPlay's continued growth and continued success." The Transaction is expected to occur in the first half of August 2025 and remains subject to customary conditions to closing. In connection with the Transaction, InPlay has entered into a registration rights agreement with Delek (the " Registration Rights Agreement") and an investor rights agreement (the " Investor Rights Agreement") substantially in the forms entered into between InPlay and Obsidian. The Registration Rights Agreement and Investor Rights Agreement are conditional upon closing of the Transaction. The Investor Rights Agreement provides that, conditional upon closing of the Transaction, InPlay will appoint two nominees of Delek to the Board of Directors of InPlay (the " Board") immediately following closing of the Transaction. For so long as Delek holds 20% or more of the issued and outstanding Common Shares and the Board is comprised of eight (8) members, Delek will be entitled to maintain two (2) board nominees. Delek has agreed that, subject to certain conditions, in respect of the election of directors and the appointment of the auditor's at InPlay's annual general meeting to be held in 2026 and the appointment of the auditor's at InPlay's annual general meeting to be held in 2027, Delek will vote (or, at Delek's discretion, abstain or cause to be abstained from voting) all Common Shares held by it in accordance with the recommendations of the Board or management of InPlay. Additionally, the Investor Rights Agreement provides Delek with certain pre-emptive and participation rights with respect to certain equity offerings undertaken by InPlay. The Registration Rights Agreement and the Investor Rights Agreement will be filed on InPlay's SEDAR+ profile at in due course. About InPlay Oil Corp. InPlay is a growth-oriented, sustainable oil and gas producer focused on long-term value creation for its shareholders. The Company's operations are centered in the Western Canadian Sedimentary Basin, where InPlay holds a diverse portfolio of oil and natural gas assets. InPlay is committed to delivering strong per-share growth, maintaining a disciplined approach to capital investment, and providing consistent returns to shareholders. About Delek Group Delek is an independent E&P and the pioneering visionary behind the development of the East Med. With major finds in the Levant Basin, including Leviathan (21.4 TCF) and Tamar (11.2 TCF no longer owned by Delek) and others, Delek is leading the region's development into a major natural gas export hub. In addition, Delek has invested in the North Sea, with its subsidiary, Ithaca Energy. Delek is one of Israel's largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index. SOURCE InPlay Oil Corp.
Cision Canada
01-05-2025
- Business
- Cision Canada
InPlay Oil Corp. Confirms Monthly Dividend for May 2025
CALGARY, AB , May 1, 2025 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on May 30, 2025 , to shareholders of record at the close of business on May 15 , 2025. The dividend amount of $0.09 per common share reflects our previous $0.015 dividend per common share adjusted for the six to one share consolidation announced April 11, 2025 . The monthly cash dividend is expected to be designated as an "eligible dividend" for Canadian federal and provincial income tax purposes. About InPlay Oil Corp. InPlay 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 OTCQX Exchange under the symbol IPOOF. SOURCE InPlay Oil Corp. For further information please contact: Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632; Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634,
Reuters
08-04-2025
- Business
- Reuters
Canadian oil and gas CEOs avoiding 'rash' decisions during price rout
TORONTO, April 8 (Reuters) - The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole, CEO of Calgary-based InPlay Oil ( opens new tab, said his company does not foresee reducing production or capital spending in the short term, despite the recent tariff-related fall in oil prices. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "Don't make any rash decisions. Let's take a longer view of things and see where it all settles out," Bartole said in an interview in Toronto. But he said that could change if oil continues its slide. "I think $50 oil would change things a bit more, obviously," Bartole said. "We can easily pull back capital. We're a small company, we're nimble. We make decisions quick." Brent futures and West Texas Intermediate crude futures have slumped since U.S. President Donald Trump's April 2 announcement of broad tariffs. Oil prices steadied on Tuesday as a recovery in equity markets was outweighed by recession fears exacerbated by trade conflict between the United States and China, the world's two biggest economies. Brent futures were up 33 cents, or 0.5%, at $64.54 a barrel at 1400 GMT. WTI crude futures rose 41 cents, or 0.7%, to $61.11. Chris Carlsen, CEO of Canadian natural gas producer Birchcliff Energy ( opens new tab, said the sector is concerned about the potential for a global recession, though he said many Canadian companies are well-positioned to handle a $60 oil price environment. He said the slide in oil prices could benefit natural gas producers in the long term if it leads to an overall reduction in North American drilling. "When they're drilling less oil, there's less associated gas with that, which means we could be short on the natural gas production side," Carlsen said.
