Latest news with #Obsidian
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Business Standard
5 days ago
- Business Standard
Google Pixel 10 series: Colours to camera and processor, what to expect
Reportedly, Google's upcoming Pixel lineup will be launched in new colour options, including Iris, Limoncello, and Sterling, alongside returning shades such as Obsidian and Porcelain New Delhi Google is expected to unveil its Pixel 10 series later this year. According to a report by 9to5Google, the upcoming smartphones are unlikely to feature any major design overhauls compared to the current generation. Instead, the Pixel 10 series is anticipated to introduce only minor design refinements. While new colour variants will be introduced, more substantial changes are expected in terms of internal specifications and performance. In addition to the expanded colour palette, significant alterations are expected in the camera configurations of the Pixel 10 series. Google Pixel 10 Series: What to expect As per the report, citing details from Mystic Leaks via 9to5Google, the upcoming Pixel 10, Pixel 10 Pro, and Pixel 10 Pro XL are expected to be offered in the following colours: Obsidian (Black) Blue (Blue) Iris (Purple) Limoncello (Yellow) Obsidian remains a standard offering and has already appeared in the 'Ask more of your phone' promotional leak. While a traditional light colour such as Porcelain is yet to be confirmed, Limoncello may serve as its alternative. Though the name 'Limoncello' is likely provisional, it could signify a shade akin to Lemongrass, previously used by Google. The colour Iris appears to be a continuation from the Pixel 9a and fills the role of the blue variant, which was omitted last year. Historically, Google has released various blue hues, including Really Blue (Pixel 1), Kinda Blue (Pixel 2), Barely Blue (Pixel 4a), Bay (Pixel 8 Pro), and the blue variant of the Pixel 8a. It will be noteworthy to see which shade of blue Google selects this year – particularly to avoid overlap with Iris. A lighter blue variant may potentially serve as a substitute for Porcelain. Obsidian and Porcelain remain expected staples in Google's palette, while Sterling is speculated to be a neutral, silvery tone – comparable to Hazel on the Pixel 9 Pro, which can appear grey under certain lighting conditions. In the green spectrum, a more vivid tone is anticipated. Google may revisit shades such as Mint from the Pixel 8 Pro or Aloe from the Pixel 8a. Camera and hardware Beyond aesthetic refinements, Google is reportedly planning notable upgrades to the hardware, particularly in the standard Pixel model. This may be a strategic move to further differentiate the base variant from its Pro counterparts. The Pixel 10 is expected to adopt the same main and ultra-wide camera sensors found in the Pixel 9a, which may represent a downgrade relative to the Pixel 9. The device may, however, incorporate a telephoto lens akin to the one on the Pixel 9 Pro Fold, offering a 5x periscope-style optical zoom. Meanwhile, the Pixel 10 Pro and 10 Pro XL are likely to retain their existing camera systems. The Pixel 10 Pro Fold may also shift to using the Pixel 9a's primary sensor, replacing the higher-resolution camera previously found in the foldable model. Additionally, Google is expected to introduce a fully custom image signal processor (ISP) alongside its next-generation Tensor G5 chip. These changes may provide performance improvements and enhanced image processing, aligning with Google's continued emphasis on computational photography.
Hindustan Times
6 days ago
- Hindustan Times
Google Pixel 10 new colour options, triple cameras, and AI features tipped online
Google is preparing to launch its next flagship, the Pixel 10 series, and recent leaks have revealed potential colour options and design details. The recent leaks have suggested the Pixel 10, Pixel 10 Pro, and Pixel 10 Pro XL will arrive in a variety of new colours that will set them apart from previous models. According to Mystic Leaks, the Pixel 10 may be offered in Obsidian (black), Blue, Iris (purple), and Limoncello (yellow). While Obsidian remains a staple in Google's colour lineup, the reappearance of Blue suggests a return to shades seen in earlier generations, such as the Pixel 2 and Pixel 4a. Limoncello might serve as a substitute for lighter shades like Porcelain. Iris was previously featured in the Pixel 9a, which indicates some colour may continue. Also read: Google to let users test Android 16 desktop mode on phones with external display support, here's how For the Pixel 10 Pro and Pro XL, leaks point to colour options like Obsidian, Green, Sterling (grey), and Porcelain. Sterling may sit between black and white, while Green could offer a fresh option similar to the Mint of the Pixel 8 Pro or the Aloe of the Pixel 8a. Porcelain and Obsidian are recurring choices for Google's higher-end models. In addition to colour leaks, images from a recent marketing shoot were briefly shared online by a tipster known as @MarksgonePublic on X. Though the photos have been removed now, these visuals appeared to be part of Google's upcoming campaign for the Pixel 10, showing storyboards and concept shots. The tagline 'Ask more of your phone' appears to tie the new phones to AI features announced at Google's I/O 2025 developer conference. Also read: Windows 10 Support Is Ending: Flipkart says it's time to upgrade to a Windows 11 PC The design of the Pixel 10 looks similar to the Pixel 9 Pro, based on leaked images. The unit shown includes a triple-lens camera setup, previously limited to Pro variants. This detail hints that Google may expand the triple-camera setup to all models in the Pixel 10 lineup rather than be exclusive to the Pro models. The layout of the phone, including the placement of buttons, remains unchanged, and the Obsidian black colour appears in the promotional materials. Furthermore, the AI integration will play a major role in the Pixel 10. New features include 'Video Generative ML,' an AI-powered video editing tool inside Google Photos; 'Speak-to-Tweak,' which lets users adjust images with voice commands; and 'Sketch-to-Image,' a function that converts sketches into photorealistic images. Also read: Elevate your play by bringing home a new gaming laptop this Flipkart Gaming Friday Sale Google typically launches its flagship Pixel phones in late summer, and the Pixel 10 is expected to follow this pattern with a possible release in August 2025. The upcoming devices are expected to feature generative AI tools introduced at Google I/O 2025.
Business Wire
09-05-2025
- Science
- Business Wire
Obsidian Solutions Group Joins Groundbreaking Initiative to Support NASA and the Firefighting Community With Wildfire Modeling and Analytics, Management, and Decision Making
FREDERICKSBURG, Va.--(BUSINESS WIRE)--Obsidian Solutions Group is proud to announce its support to the Western Fire Chiefs Association (WFCA) and its groundbreaking research and development initiative—the Applied Sciences Center for Resilience Studies (ASC). The ASC creates a nexus between researchers and practitioners, enabling and advancing collaboration among government agencies, industries, and academia to enhance community wildfire resilience. ASC's inaugural research endeavor, which is funded by NASA's Earth Applied Sciences Wildland Fires program area, will focus on wildfire decision-making and data mapping. Known as the Wildfire Decision and Data Mapping Project, this effort will study the intersection of wildfire management, human decisions, and planned interventions to advance wildfire science and technology, improve emergency management techniques and procedures, and support data-informed decision making for fire-related emergency services, future technologies, and resourcing. Dr. Katelynn Kapalo—ASC's assistant director—and Brian Collins—the research project's co-investigator—will lead this effort for the WFCA. According to Kapalo and Collins, the goal of this foundational study is to create a science-based decision model, enabling NASA and the wildfire community to align and prioritize investments in sensors and systems, data and data analytics, operational planning, resourcing, and mitigation. 'Our team is not only excited for but also honored to support and participate in such a worthwhile endeavor for the U.S. firefighting community who daily protect us and the environment from fires and other natural and manmade emergencies.' Capitalizing on its proven ability to provide solutions to its customers' most challenging problems, Obsidian Solutions Group will leverage its core competencies in data management, intelligence, threat modeling, and doctrine and training assessments to support WFCA's groundbreaking initiative. Overseeing this effort for Obsidian are Chris Teague and Ken Kassner, who have managed, led, and supported various exercise design, training, and decision-making programs and doctrine analysis for Obsidian's clients. Together, they initiated the company's support to this pioneering work with NASA and the Western Fire Chiefs Association. Obsidian has also partnered with Matt Maher and Rob Orlando of Processus Group, who will utilize their company's data modeling techniques and cognitive problem-solving methodologies to assess cause and effect relationships across the complex wildfire fighting domain. Jim Wiley, president and co-founder of Obsidian Solutions Group, expressed great enthusiasm for this project. 'Our team is not only excited for but also honored to support and participate in such a worthwhile endeavor for the U.S. firefighting community who daily protect us and the environment from fires and other natural and manmade emergencies.' Pat O'Neil—Obsidian's vice president of operations—further commented about the incredible value of this research initiative. 'Similar to the mission-critical work many of our experts regularly provide to our nation's warfighters in operational design, planning, and decision making, this collaborative effort between the WFCA, Obsidian, and Processus directly applies to firefighters on the ground at the point of relevance and the myriad organizations involved in wildland fire management and resourcing. We're exceptionally proud to be a part of this project.' For additional information about Obsidian Solutions Group expert services and mission accelerators, please visit
Cision Canada
08-05-2025
- Business
- Cision Canada
InPlay Oil Corp. Announces First Quarter 2025 Financial and Operating Results and Updated 2025 Capital Budget Post Closing of the Highly Accretive Pembina Asset Acquisition
CALGARY, AB, May 8, 2025 /CNW/ - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (" InPlay" or the " Company") announces its financial and operating results for the three months ended March 31, 2025 and an updated 2025 capital budget following the successful completion of the strategic acquisition of Cardium light oil focused assets (the " Acquired Assets") in the Pembina area of Alberta (the " Acquisition") from Obsidian Energy Ltd. And certain of its affiliates (collectively " Obsidian"). InPlay's condensed unaudited interim financial statements and notes, as well as Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2025 will be available at " and on our website at " All figures presented herein reflect the Company's six (6) to one (1) share consolidation, which was effective April 14, 2025. An updated corporate presentation will be available on our website shortly. First Quarter 2025 Highlights Achieved average quarterly production of 9,076 boe/d (1) (55% light crude oil and NGLs), a 5% increase over Q1 2024 and ahead of internal forecasts. Generated strong quarterly Adjusted Funds Flow ("AFF") (2) of $16.8 million ($1.10 per basic share (3)). Returned $4.1 million to shareholders by way of monthly dividends, equating to a 16% yield relative to the current share price. Since November 2022 InPlay has distributed $44 million in dividends including dividends declared to date. Maintained a strong operating income profit margin (3) of 54%. Improved field operating netbacks (3) to $25.71/boe, an increase of 3% compared to Q4 2024. First quarter results exceeded expectations, driven in part by the outperformance of newly drilled wells at Pembina Cardium Unit #7 (PCU#7). A two well pad delivered average initial production ("IP") rates of 677 boe/d (75% light oil and NGLs) over the first 30 days and 492 boe/d (66% light oil and NGLs) over the first 60 days, both significantly above expectations. Over the initial two-month period, production from these wells was more than 100% above our type curve. These wells ranked in the top-ten for production rates for all Cardium wells in the basin for the month of March. Complementing InPlay's strong operational momentum, Obsidian drilled four (4.0 net) wells on the Acquired Assets in the first quarter. The first two (2.0 net) wells, which started production mid quarter, are outperforming our internal type curve by approximately 50% with average IP rates of 304 boe/d (91% light oil and NGLs) over the first 30 days and 295 boe/d (85% light oil and NGLs) over the first 60 days. The remaining two wells, brought online in the final days of the first quarter, are performing more than 350% above our internal type curve, with average IP rates per well of 887 boe/d (88% light oil and NGLs) over their initial 30 day period. The Company is very excited about the highly accretive Pembina Acquisition announced February 19, 2025 and had anticipated strong results from the combined assets. The exceptional results from the first quarter drilling program, combined with the outperformance of base production, have driven current field estimated production to approximately 21,500 boe/d (64% light oil and NGLs) significantly exceeding what we had initially forecasted at the announcement of the Acquisition. Given the current volatility in commodity prices, this material outperformance provides the Company with significant flexibility to scale back our capital program, providing "more for less" while maintaining our production forecasts, allowing for more aggressive debt repayment even in a lower pricing environment. 2025 Capital Budget and Associated Guidance Following the closing of the highly accretive Acquisition on April 7, 2025, InPlay is pleased to provide initial pro forma guidance inclusive of the Acquired Assets. This guidance reflects the exceptional operational performance across the Company's expanded asset base, while taking into account the current volatile commodity price environment. It also underscores InPlay's continued commitment to maximizing free cash flow to support ongoing debt reduction, while positioning the Company to support its return to shareholder strategy. InPlay's Board has approved an updated capital program of $53 – $60 million for 2025. InPlay plans to drill approximately 5.5 – 7.5 net Extended Reach Horizontal ("ERH") Cardium wells over the remainder of the year. A significant portion of the remaining 2025 capital budget is expected to be directed toward the Acquired Assets, which (as outlined above) continue to materially outperform internally modelled type curves. Cost efficiencies realized through InPlay's recent drilling program, combined with the application of InPlay's drilling and completion techniques to the Acquired Assets, are expected to further enhance well economics. Capital will also be spent tying in certain InPlay assets into the newly acquired facilities, eliminating significant trucking costs, and marks the first step in our synergy cost savings strategy. Due to the outperformance of production across our asset base, InPlay has reduced total capital spending for the remainder of 2025 by approximately 30% (relative to initial expectations) without reducing production estimates. Key highlights of the updated 2025 capital program include: Production per Share Growth: Forecasted average annual production of 16,000 – 16,800 boe/d (1) (60% – 62% light oil and NGLs), a 15% increase (based on mid-point) in production per weighted average share compared to 2024 despite 30% less capital spending than initially expected, driven by: Lower corporate base decline rate of 24% due to the favorable decline profile of the Acquired Assets; Improved corporate netbacks driven by the higher oil and liquids weighting of the Acquired Assets; and Enhanced capital efficiencies from high graded drilling inventory of the pro forma assets. FAFF Generation and Dividend Sustainability: AFF (2) per weighted average share (4) of $5.00 – $5.35, a 13% increase (based on mid-point) compared to 2024. Free adjusted funds flow ("FAFF") (3) of $68 – $76 million equating to a 35% – 40% FAFF Yield (3), a 10x increase (based on mid-point) in FAFF per share compared to 2024 despite a 17% year over year reduction in forecasted WTI price. Top Tier Returns: Total return of 50% – 55% after combining FAFF Yield and production per share growth (4), which is expected to be at the high end of our peer group. Debt Reduction: Excess FAFF (3) is planned to be used to reduce debt. Projected year-end Net Debt (2) of $213 – $221 million equating to a $31 – $39 million reduction from closing of the Acquisition. Year-end Net Debt to Q4 2025 annualized EBITDA (3) ratio of 1.1x – 1.3x. InPlay continues to monitor global trade and commodity dynamics, including United States tariffs on Canada. Capital spending will be weighted towards the back end of the year with drilling expected to resume again in August, providing ample time to finalize capital spending allocation depending on commodity pricing and continued asset performance. As a result of minimal capital spending in the second quarter, InPlay anticipates generating significant FAFF which will be directed to reducing debt. InPlay will remain flexible and will make decisions based on our core strategy of disciplined capital allocation, maintaining financial strength to ensure the long term sustainability of our strategy and return to shareholder program. Following closing of the Acquisition, a significant hedging program was undertaken to help provide downside commodity price protection. As further detailed in the hedging summary section in this press release, InPlay has hedged approximately 75% of its net after royalty oil production and 67% of its net after royalty production on a BOE basis for the remainder of 2025. InPlay's strong hedge book provides insulation to the current commodity price volatility which is highlighted in the sensitivity table below. With low decline high netback assets, a flexible budget, a resilient balance sheet, and becoming a larger company, InPlay remains well positioned to sustainably navigate future commodity price cycles. Adhering to this disciplined strategy has allowed the Company to navigate previous commodity price cycles including the COVID-19 pandemic price environment. Financial and Operating Results: First Quarter 2025 Financial & Operations Overview: The year has begun with strong momentum as production for the quarter exceeded internal forecasts, largely due to the outperformance of new ERH wells in PCU#7. Three (3.0 net) ERH wells were brought online at the end of February as part of a $13.9 million capital program, inclusive of $1.4 million invested in well optimization initiatives which continues to lower corporate declines. Production averaged 9,076 boe/d (1) (55% light crude oil and NGLs) in the quarter, a 5% increase from 8,605 boe/d (1) in the first quarter of 2024. Notably, a two well pad drilled in PCU#7 exceeded expectations, delivering average IP rates of 677 boe/d (75% light oil and NGLs) and 492 boe/d (66% light oil and NGLs) per well over their first 30 and 60 days, respectively, which is over 100% above our internally modeled type curve for these wells. Obsidian drilled four (4.0 net) wells on the Acquired Assets in the first quarter. The first two (2.0 net) wells, which came on production mid quarter, are outperforming the internal type curve with IP rates averaging 304 boe/d (91% light oil and NGLs) and 295 boe/d (85% light oil and NGLs) over the first 30 and 60 days, respectively (approximately 50% above our internally modelled type curve). The last two wells were brought online in the final days of the quarter and are performing significantly above internal forecasts with IP rates averaging 887 boe/d (88% light oil and NGLs) per well over their first 30 days (more than 350% above our type curve). AFF for the quarter was $16.8 million. In addition, the Company returned $4.1 million ($0.09 per share) in base dividends to shareholders which equates to a yield of 16% based on the current share price. Net debt at quarter-end totaled $63 million, with a net debt to EBITDA ratio (3) of 0.8x, reflecting a healthy financial position. On behalf of the entire InPlay team and the Board of Directors, we thank our shareholders for their continued support as we advance our strategy of disciplined growth, returns, and long-term value creation. We are excited to report our progress with respect to the strategic Acquisition. For further information please contact: Doug Bartole President and Chief Executive Officer InPlay Oil Corp. Telephone: (587) 955-0632 Darren Dittmer Chief Financial Officer InPlay Oil Corp. Telephone: (587) 955-0634 Reader Advisories Hedging Summary Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 – Q4/26 Q1/27 Natural Gas AECO Swap (mcf/d) 14,215 14,215 12,960 12,320 7,900 2,845 Hedged price ($AECO/mcf) $2.20 $2.20 $2.60 $2.80 $2.90 $3.65 Natural Gas AECO Costless Collar (mcf/d) 9,830 13,270 12,640 12,320 11,795 13,270 Hedged price ($AECO/mcf) $2.10 - $3.05 $2.10 - $3.20 $2.20 - $3.40 $2.25 - $3.50 $2.55 - $3.80 $2.90 - $4.85 Crude Oil WTI Swap (bbl/d) 3,820 3,250 2,500 3,750 500 500 Hedged price ($USD WTI/bbl) $61.70 $62.45 $62.20 $60.30 $60.20 $60.60 Crude Oil WTI Costless Collar (bbl/d) - 1,300 1,300 - - - Hedged price ($USD WTI/bbl) - $55.00 - $59.35 $55.00 - $59.35 - - - Crude Oil WTI Three-way Collar (bbl/d) 1,700 1,300 1,300 - - - Low sold put price ($USD WTI/bbl) $60.20 $59.50 $59.50 - - - Mid bought put price ($USD WTI/bbl) $68.10 $67.50 $67.50 - - - High sold call price ($USD WTI/bbl) $82.90 $83.00 $83.00 - - - Crude Oil MSW Differential Swap (bbl/d) 3,000 - - - - - Hedged price ($USD/bbl) $5.68 - - - - - Electricity AESO Swap (kW) 1,000 1,000 1,000 1,000 1,000 1,000 Hedged price ($kWh) $0.06217 $0.06217 $0.06217 $0.06217 $0.06217 $0.06217 Non-GAAP and Other Financial Measures Throughout this document and other materials disclosed by the Company, InPlay uses certain measures to analyze financial performance, financial position and cash flow. These non-GAAP and other financial measures do not have any standardized meaning prescribed under GAAP and therefore may not be comparable to similar measures presented by other entities. The non-GAAP and other financial measures should not be considered alternatives to, or more meaningful than, financial measures that are determined in accordance with GAAP as indicators of the Company performance. Management believes that the presentation of these non-GAAP and other financial measures provides useful information to shareholders and investors in understanding and evaluating the Company's ongoing operating performance, and the measures provide increased transparency and the ability to better analyze InPlay's business performance against prior periods on a comparable basis. Non-GAAP Financial Measures and Ratios Included in this document are references to the terms "free adjusted funds flow", "operating income", "operating netback per boe", "operating income profit margin" and "Net Debt to EBITDA". Management believes these measures and ratios are helpful supplementary measures of financial and operating performance and provide users with similar, but potentially not comparable, information that is commonly used by other oil and natural gas companies. These terms do not have any standardized meaning prescribed by GAAP and should not be considered an alternative to, or more meaningful than "profit before taxes", "profit and comprehensive income", "adjusted funds flow", "capital expenditures", "net debt" or assets and liabilities as determined in accordance with GAAP as a measure of the Company's performance and financial position. Free Adjusted Funds Flow/FAFF per share Management considers FAFF and FAFF per share important measures to identify the Company's ability to improve its financial condition through debt repayment and its ability to provide returns to shareholders. FAFF should not be considered as an alternative to or more meaningful than AFF as determined in accordance with GAAP as an indicator of the Company's performance. FAFF is calculated by the Company as AFF less exploration and development capital expenditures and property dispositions (acquisitions) and is a measure of the cashflow remaining after capital expenditures that can be used for additional capital activity, corporate acquisitions, repayment of debt or decommissioning expenditures or potentially return of capital to shareholders. FAFF per share is calculated by the Company as FAFF divided by weighted average shares outstanding. Refer to the "Forward Looking Information and Statements" section for a calculation of forecast FAFF and FAFF per share. Free Adjusted Funds Flow Yield InPlay uses "free adjusted funds flow yield" as a key performance indicator. When presented on a corporate basis, free adjusted funds flow is calculated by the Company as free adjusted funds flow divided by the market capitalization of the Company. When presented on an asset basis for acquisition purposes, free adjusted funds flow is calculated by the Company as free adjusted funds flow divided by the operating income of the Acquired Assets. Management considers FAFF yield to be an important performance indicator as it demonstrates a Company or asset's ability to generate cash to pay down debt and provide funds for potential distributions to shareholders. Refer to the "Forward Looking Information and Statements" section for a calculation of forecast FAFF Yield. Operating Income/Operating Netback per boe/Operating Income Profit Margin InPlay uses "operating income", "operating netback per boe" and "operating income profit margin" as key performance indicators. Operating income is calculated by the Company as oil and natural gas sales less royalties, operating expenses and transportation expenses and is a measure of the profitability of operations before administrative, share-based compensation, financing and other non-cash items. Management considers operating income an important measure to evaluate its operational performance as it demonstrates its field level profitability. Operating income should not be considered as an alternative to or more meaningful than net income as determined in accordance with GAAP as an indicator of the Company's performance. Operating netback per boe is calculated by the Company as operating income divided by average production for the respective period. Management considers operating netback per boe an important measure to evaluate its operational performance as it demonstrates its field level profitability per unit of production. Operating income profit margin is calculated by the Company as operating income as a percentage of oil and natural gas sales. Management considers operating income profit margin an important measure to evaluate its operational performance as it demonstrates how efficiently the Company generates field level profits from its sales revenue. Refer below for a calculation of operating income, operating netback per boe and operating income profit margin. Refer to the "Forward Looking Information and Statements" section for a calculation of forecast operating income, operating netback per boe and operating income profit margin. Net Debt to EBITDA Management considers Net Debt to EBITDA an important measure as it is a key metric to identify the Company's ability to fund financing expenses, net debt reductions and other obligations. EBITDA is calculated by the Company as adjusted funds flow before interest expense. When this measure is presented quarterly, EBITDA is annualized by multiplying by four. When this measure is presented on a trailing twelve month basis, EBITDA for the twelve months preceding the net debt date is used in the calculation. This measure is consistent with the EBITDA formula prescribed under the Company's Credit Facility. Net Debt to EBITDA is calculated as Net Debt divided by EBITDA. Refer to the "Forward Looking Information and Statements" section for a calculation of forecast Net Debt to EBITDA. Capital Management Measures Adjusted Funds Flow Management considers adjusted funds flow to be an important measure of InPlay's ability to generate the funds necessary to finance capital expenditures. Adjusted funds flow is a GAAP measure and is disclosed in the notes to the Company's financial statements for the three months ended March 31, 2025. All references to adjusted funds flow throughout this document are calculated as funds flow adjusting for decommissioning expenditures. Decommissioning expenditures are adjusted from funds flow as they are incurred on a discretionary and irregular basis and are primarily incurred on previous operating assets. The Company also presents adjusted funds flow per share whereby per share amounts are calculated using weighted average shares outstanding consistent with the calculation of profit per common share. Net Debt Net debt is a GAAP measure and is disclosed in the notes to the Company's financial statements for the three months ended March 31, 2025. The Company closely monitors its capital structure with the goal of maintaining a strong balance sheet to fund the future growth of the Company. The Company monitors net debt as part of its capital structure. The Company uses net debt (bank debt plus accounts payable and accrued liabilities less accounts receivables and accrued receivables, prepaid expenses and deposits and inventory) as an alternative measure of outstanding debt. Management considers net debt an important measure to assist in assessing the liquidity of the Company. Supplementary Measures "Average realized crude oil price" is comprised of crude oil commodity sales from production, as determined in accordance with IFRS, divided by the Company's crude oil volumes. Average prices are before deduction of transportation costs and do not include gains and losses on financial instruments. "Average realized NGL price" is comprised of NGL commodity sales from production, as determined in accordance with IFRS, divided by the Company's NGL volumes. Average prices are before deduction of transportation costs and do not include gains and losses on financial instruments. "Average realized natural gas price" is comprised of natural gas commodity sales from production, as determined in accordance with IFRS, divided by the Company's natural gas volumes. Average prices are before deduction of transportation costs and do not include gains and losses on financial instruments. "Average realized commodity price" is comprised of commodity sales from production, as determined in accordance with IFRS, divided by the Company's volumes. Average prices are before deduction of transportation costs and do not include gains and losses on financial instruments. "Adjusted funds flow per weighted average basic share" is comprised of adjusted funds flow divided by the basic weighted average common shares. "Adjusted funds flow per weighted average diluted share" is comprised of adjusted funds flow divided by the diluted weighted average common shares. "Adjusted funds flow per boe" is comprised of adjusted funds flow divided by total production. Forward-Looking Information and Statements This document contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends", "forecast" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this document contains forward-looking information and statements pertaining to the following: the Company's business strategy, milestones and objectives; expectations regarding the Company's 2025 capital program; 2025 forecast production; 2025 guidance based on the planned capital program and all associated underlying assumptions set forth in this document including, without limitation, forecasts of 2025 annual average production levels, adjusted funds flow, free adjusted funds flow, Net Debt/EBITDA ratio, operating income profit margin, net debt and Management's belief that the Company can grow some or all of these attributes and specified measures; light crude oil and NGLs weighting estimates; anticipated timing of release of the updated corporate presentation; expectations regarding future commodity prices; future oil and natural gas prices; future liquidity and financial capacity; expectations regarding the ability to realize cost efficiencies and the anticipated benefits therefrom; future results from operations and operating metrics; future costs, expenses and royalty rates; future interest costs; the exchange rate between the $US and $Cdn; future development, exploration, acquisition, development and infrastructure activities and related capital expenditures, including InPlay's planned 2025 capital program; the amount and timing of capital projects; InPlay's expectations regarding its ability to generate FAFF and reduce debt; InPlay's ability to remain flexible and make decisions that maintain financial strength; the Company's hedging program and anticipated benefits therefrom; and methods of funding our capital program. The internal projections, expectations, or beliefs underlying our Board approved 2025 capital budget and associated guidance are subject to change in light of, among other factors, changes to U.S. economic, regulatory and/or trade policies (including tariffs), the impact of world events including the Russia/Ukraine conflict and war in the Middle East, ongoing results, prevailing economic circumstances, volatile commodity prices, and changes in industry conditions and regulations. InPlay's 2025 financial outlook and revised guidance provides shareholders with relevant information on management's expectations for results of operations, excluding any potential acquisitions or dispositions, for such time periods based upon the key assumptions outlined herein. Readers are cautioned that events or circumstances could cause capital plans and associated results to differ materially from those predicted and InPlay's revised guidance for 2025 may not be appropriate for other purposes. Accordingly, undue reliance should not be placed on same. Forward-looking statements or information are based on a number of material factors, expectations or assumptions of InPlay which have been used to develop such statements and information, but which may prove to be incorrect. Although InPlay believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because InPlay can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the current U.S. economic, regulatory and/or trade policies; the impact of increasing competition; the general stability of the economic and political environment in which InPlay operates; the timely receipt of any required regulatory approvals; the ability of InPlay to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which InPlay has an interest in to operate the field in a safe, efficient and effective manner; the ability of InPlay to obtain debt financing on acceptable terms; the anticipated tax treatment of the monthly base dividend; that (i) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S., will trigger a broader global trade war which could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company, including by decreasing demand for (and the price of) oil and natural gas, disrupting supply chains, increasing costs, causing volatility in global financial markets, and limiting access to financing; the duration and impact of tariffs that are currently in effect on goods exported from or imported into Canada, and that other than the tariffs that are currently in effect, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, reenacts tariffs that are currently suspended, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas;' changes in political and economic conditions, including risks associated with tariffs, export taxes, export restrictions or other trade actions; impacts of any tariffs imposed on Canadian exports into the United States by the Trump administration and any retaliatory steps taken by the Canadian federal government; that InPlay's results and operations could be adversely affected by economic or geopolitical developments, including protectionist trade policies such as tariffs, or other events; conditions in international markets, including social and political conditions, civil unrest, terrorist activity, governmental changes, restrictions on the ability to transfer capital across borders, tariffs and other protectionist measures; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and the ability of InPlay to secure adequate product transportation; future commodity prices; that various conditions to a shareholder return strategy can be satisfied; the ongoing impact of the Russia/Ukraine conflict and war in the Middle East; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; and the ability of InPlay to successfully market its oil and natural gas products. Without limitation of the foregoing, readers are cautioned that the Company's future dividend payments to shareholders of the Company, if any, and the level thereof will be subject to the discretion of the Board of Directors of InPlay. The Company's dividend policy and funds available for the payment of dividends, if any, from time to time, is dependent upon, among other things, levels of FAFF, leverage ratios, financial requirements for the Company's operations and execution of its growth strategy, fluctuations in commodity prices and working capital, the timing and amount of capital expenditures, credit facility availability and limitations on distributions existing thereunder, and other factors beyond the Company's control. Further, the ability of the Company to pay dividends will be subject to applicable laws, including satisfaction of solvency tests under the Business Corporations Act (Alberta), and satisfaction of certain applicable contractual restrictions contained in the agreements governing the Company's outstanding indebtedness. Further, the actual amount, the declaration date, the record date and the payment date of any dividend are subject to the discretion of the InPlay Board of Directors. There can be no assurance that InPlay will pay dividends in the future. The forward-looking information and statements included herein are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward-looking information or statements including, without limitation: changes in industry regulations and legislation (including, but not limited to, tax laws, royalties, and environmental regulations); that (i) the tariffs that are currently in effect on goods exported from or imported into Canada continue in effect for an extended period of time, the tariffs that have been threatened are implemented, that tariffs that are currently suspended are reactivated, the rate or scope of tariffs are increased, or new tariffs are imposed, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed or threatened to be imposed by the U.S. on other countries and retaliatory tariffs imposed or threatened to be imposed by other countries on the U.S., will trigger a broader global trade war which could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company, including by decreasing demand for (and the price of) oil and natural gas, disrupting supply chains, increasing costs, causing volatility in global financial markets, and limiting access to financing; ''the continuing impact of the Russia/Ukraine conflict and war in the Middle East; potential changes to U.S. economic, regulatory and/or trade policies as a result of a change in government; inflation and the risk of a global recession; changes in our planned 2025 capital program; changes in our approach to shareholder returns; changes in commodity prices and other assumptions outlined herein; the risk that dividend payments may be reduced, suspended or cancelled; the potential for variation in the quality of the reservoirs in which InPlay operates; changes in the demand for or supply of InPlay's products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans or strategies of InPlay or by third party operators of InPlay's properties; changes in InPlay's credit structure, increased debt levels or debt service requirements; inaccurate estimation of InPlay's light crude oil and natural gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in InPlay's continuous disclosure documents filed on SEDAR+ including InPlay's Annual Information Form dated March 31, 2025 and the annual management's discussion & analysis for the year ended December 31, 2024. This document contains future-oriented financial information and financial outlook information (collectively, "FOFI") about InPlay's financial and leverage targets and objectives, potential dividends, and beliefs underlying our Board approved 2025 capital budget and associated guidance, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. The actual results of operations of InPlay and the resulting financial results will likely vary from the amounts set forth in this document and such variation may be material. InPlay and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, InPlay undertakes no obligation to update such FOFI. FOFI contained in this document was made as of the date of this document and was provided for the purpose of providing further information about InPlay's anticipated future business operations and strategy. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. The forward-looking statements and FOFI contained in this document speak only as of the date hereof and InPlay does not assume any obligation to publicly update or revise any of the included forward-looking statements or FOFI, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Risk Factors to FLI Risk factors that could materially impact successful execution and actual results of the Company's 2025 capital program and associated guidance and estimates include: risks related to an international trade war, including the risk that the U.S. government imposes additional tariffs on Canadian goods, including crude oil and natural gas, and that such tariffs (and/or the Canadian government's response to such tariffs) adversely affect the demand and/or market price for the Company's products and/or otherwise adversely affects the Company; volatility of petroleum and natural gas prices and inherent difficulty in the accuracy of predictions related thereto; the extent of any unfavourable impacts of wildfires in the province of Alberta. changes in Federal and Provincial regulations; the Company's ability to secure financing for the Board approved 2025 capital program and longer-term capital plans sourced from AFF, bank or other debt instruments, asset sales, equity issuance, infrastructure financing or some combination thereof; and those additional risk factors set forth in the Company's MD&A and most recent Annual Information Form filed on SEDAR+. Key Budget and Underlying Material Assumptions to FLI The key budget and underlying material assumptions used by the Company in the development of its updated 2025 guidance are as follows: (1) As previously released February 4, 2025. (2) As previously released February 19, 2025. (3) InPlay's previous pro-forma estimate for 2025 were preliminary in nature and did not reflect a Board approved capital expenditure budget. The previous pro-forma estimate for 2025 was presented as though InPlay acquired the Acquired Assets at January 1, 2025 notwithstanding that income from January 1, 2025 to closing represented a purchase price adjustment and such production is not to be directly attributed to InPlay. (4) InPlay's EBITDA for this column is based on Q4 2025 annualized figures. • See "Production Breakdown by Product Type" below • Quality and pipeline transmission adjustments may impact realized oil prices in addition to the MSW Differential provided above • Changes in working capital are not assumed to have a material impact between the years presented above. Production Breakdown by Product Type Disclosure of production on a per boe basis in this document consists of the constituent product types as defined in NI 51–101 and their respective quantities disclosed in the table below: Notes: 1. This reflects the mid-point of the Company's 2025 updated production guidance range of 16,000 to 16,800 boe/d. 2. This reflects the mid-point of the Company's 2025 previous production guidance range of 8,650 to 9,150 boe/d. 3. The 2025 Previous Pro Forma production estimate is for the entirety of 2025 notwithstanding that production from January 1, 2025 to Closing of the acquisition of the Acquired Assets represents a purchase price adjustment and such production will not be directly attributed to InPlay. 4. With respect to forward looking production guidance, product type breakdown is based upon management's expectations based on reasonable assumptions but are subject to variability based on actual well results. BOE equivalent Barrel of oil equivalents or BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different than the energy equivalency of 6:1, utilizing a 6:1 conversion basis may be misleading as an indication of value. Initial Production Rates References in this press release to IP rates, other short-term production rates or initial performance measures relating to new wells are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long-term performance or of ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company. Accordingly, the Company cautions that the test results should be considered to be preliminary.
Stuff.tv
05-05-2025
- Entertainment
- Stuff.tv
Here's my pick of the best Xbox Games Pass games to play today
Now into its eighth year, Xbox Game Pass has come to define gaming today, despite Microsoft's games consoles lagging behind the competition in terms of player count. The so-called 'Netflix of games' isn't just for Xbox or PC owners, either: with cloud gaming in more robust shape than ever, you can now stream the Game Pass library on your laptop, your phone, even straight from your smart TV. You'll need to be on the highest Ultimate tier to access new day-one releases (or have the option to stream them) and games can leave the service as quickly as they arrive, so your favourites aren't guaranteed to stick around forever. But with the rising prices of consoles and games – Microsoft just hiked the Xbox Series X by a whopping 20% in the US – having a wealth of titles to play for a relatively low monthly subscription remains incredible value. There have been some real bangers just this year alone, courtesy of the Xbox Game Studios family, as well as indie hits from renowned developers and surprise trailblazers. Here's just ten of the best to come to Xbox Game Pass over the past twelve months. Atomfall Not just a British take on Fallout or S.T.A.L.K.E.R., Rebellion's first-person survival adventure is an alt-history reimagining of the 1957 Windscale Fire in the northwest of England. Your one goal is to figure out how to escape a remote part of the Lake District that's been quarantined years after a nuclear disaster. Will you work with the game's various factions or resort to cold-blooded murder to get what you want? Scrappy, freeform, and exceptionally Northern. Another Crab's treasure I get it, souls-likes (rock-hard action RPGs with mechanics 'borrowed' from the Dark Souls series) aren't for everyone – but this far more cuddly take on the genre isn't quite so punishing. Your hermit crab protagonist can wear almost anything you find, from shells to trash, to survive attacks from enemies that tower over you. And if you're still struggling on a particularly tough boss? One of the options in the (extensive) gameplay assists menu gives your cutesy crustacean a 9mm pistol that one-shots any enemy in the game. Yes, really. Avowed Set in the same universe as Obsidian's Pillars of Eternity series, this RPG takes the more immersive first-person approach of Skyrim, then makes the action a little robust and arcadey, from meaty two-handed combat to breezy parkouring. But it does that without diluting the role-playing side of things, as you're joined with a party of intriguing allies whose bonds you can develop while you'll find yourself facing more than a few difficult choices… South of Midnight This may be a fairly old-school action-adventure, but you're really in it for the sumptuous story set in the Deep South, blending the region's folk tales with dark magical realism. Playing as teenager Hazel, you discover your powers as a weaver, able to recall memories from the past that can heal monsters created from trauma. With imaginative stop motion-inspired visuals and one of the best soundtracks of the year, this is a trip down the bayou worth taking. Call of Duty: Black Ops 6 Once Microsoft acquired Activision Blizzard, it was inevitable Call of Duty would become one of Game Pass's main draws. Black Ops 6 also happens to be the best entry in the long-running series for some time, thanks to a relentlessly entertaining and impressively varied single-player campaign inspired by everything from the tense stealth set pieces of Splinter Cell to Far Cry's open-world maps; a back-to-form Zombies mode, and multiplayer that benefits from the new Omnimovement system. Black Ops 6 is CoD firing on all cylinders, and there's enough in here for it to be the only game you play until the next entry. The fact that you get it all at no extra cost if you're a Game Pass subscriber is nothing short of incredible. Blue Prince This surprise indie hit channels old-school point-and-click head-scratching mysteries like Myst but with a roguelike twist. The set-up of inheriting a mansion from your late uncle is simple enough, but in order to secure that inheritance, you must navigate the mansion's ever-changing rooms in order to locate the hidden 46th room. Just try not to lose your mind from deciphering all the other rooms, keys, and other teasing clues that will have you scribbling all kinds of notes. Indiana Jones and the Great Circle Could this be the best use of a movie license in years? Wolfenstein developer MachineGames makes use of its first-person expertise to really make you become Dr. Jones, with a smarter investigative approach in its sandbox environments than his previous, more trigger-happy gaming facsimiles. When the camera occasionally pulls back for its action and cinematics, Troy Baker does a fantastic job of channeling Harrison Ford in his prime. Balatro If you haven't already experienced this deckbuilding indie hit from 2024, you've no excuse now that it's on Game Pass. Using poker hands to get a high score to progress each level is simple enough, but it's all about combining the game-changing joker cards to maximise your score as those numbers go up and up, which feels both obsessive and zen. Undoubtedly it feels more at home on a handheld, but then that's what cloud gaming on phones is for. Clair Obscur: Expedition 33 This RPG wears the classics like Final Fantasy on its sleeve but takes a refreshing approach by combining traditional turn-based battles with the electrifying and demanding action of Sekiro where it's possible (but incredibly tough) to dodge or parry every enemy attack. There's a moving story with tragic twists, a magnificent score and gorgeous visuals that give life to this broken yet arresting – and quintessentially French – world as your titular expedition sets out on a suicide mission to defy their fate. The Elder Scrolls IV: Oblivion Remastered Amidst the seemingly never-ending wait for a new Elder Scrolls and the running gag of how many times Skyrim can be repackaged, Bethesda has decided to give a new lease of life to an older predecessor. It remains a defining RPG for many from the Xbox 360 era, as you're let loose in the province of Cyrodiil in a quest to thwart a fanatical cult from opening the gates of Oblivion. Given how much care and attention has been paid to recreate every asset in Unreal Engine 5, surely this is a remake more than just a remaster. Of course, once you play it, those creaky foundations from 2006 are still there, as well as bugs that you just come to expect from a Bethesda RPG. Attempts to smoothen out some rough edges nonetheless makes this the best way to revisit a classic, even if other open world games have surpassed it since.
