InPlay Oil Corp. CEO Douglas Bartole Joins Uptick Newswire’s ‘Stock Day’ Podcast With Everett Jolly
PHOENIX, Sept. 04, 2018 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (OTC:IPOOF, TSX:IPO) (the “Company”) CEO Douglas Bartole is joining the latest “Stock Day” podcast with Uptick Newswire’s Everett Jolly.
Bartole discusses the big year of growth for the emerging Canadian company, which specializes in light oil production. The company is expecting revenues that could top $90 million this year with margins of over 50%, which would be more than double over 2017.
Bartole says InPlay Oil is having great success in developing its light oil play which is the preferred commodity to be in in Canada as it is a global commodity and there has been a lack of growth in Canadian light oil over the last decade. The company has managed to keep costs down, been efficient with capital, and shown great growth while seeing year-over-year increasing commodity prices.
InPlay Oil is also experiencing great success with their horizontal drilling program using new technologies which is providing top tier returns amongst North American light oil plays. Bartole says the company will press release an operations update including new results on its latest drilling around the second week of September.
About InPlay Oil Corp. InPlay Oil Corp. is a growth-oriented light oil development and production company based in Calgary, Alberta. InPlay's activity is focused on large oil in place pools with low recovery factors, low declines, and long life reserves primarily targeting the Cardium Formation in Alberta and has added a sizeable land position in the very exciting and emerging East Basin Duvernay Shale play. InPlay has a strong balance sheet allowing it to weather commodity volatility and develop its extensive inventory of horizontal drilling locations.
Contact Information Doug Bartole President and Chief Executive Officer (587) 955-0632
Darren Dittmer Chief Financial Officer (587) 955-0634
Forward-Looking Information and Statements This news release 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 news release contains forward-looking information and statements pertaining to the following: the volume and product mix of InPlay's oil and gas production; production estimates including 2018 average and exit forecasts, targeted production growth; future oil and natural gas prices and InPlay's commodity risk management programs; future liquidity and financial capacity; future results from operations and operating metrics including forecasts of operating netbacks, adjusted funds flow, cash flow and net debt ratios; 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 our 2018 capital budget and the potential expansion thereof, and the timing thereof; the number of wells to be drilled, completed and tied-in and the timing thereof; the amount and timing of capital projects; the resource potential of our Duvernay play; and methods of funding our capital program. 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 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 financing on acceptable terms; 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; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which InPlay operates; the ability of InPlay to successfully market its oil and natural gas products.
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 commodity prices; the potential for variation in the quality of the reservoirs in which we operate; changes in the demand for or supply of our products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of InPlay or by third party operators of our properties, increased debt levels or debt service requirements; inaccurate estimation of our oil and 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 disclosure documents. The forward-looking information and statements contained in this news release 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 information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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