Inplay Oil Corp · TSX:IPO
Inplay Oil — Investor Presentation (February 2025)
28 slides from Inplay Oil's investor presentation, February 2025
Slide 1: February 2025
February 2025 TSX : IPO OTCQX : IPOOF
Slide 2: Investment Highlights
Investment Highlights • Corporate Strategy: “Disciplined light oil growth developing high rate of return assets focused on strong free adjusted funds flow (FAFF) with conservative leverage ratios while maximizing returns to shareholders” • Technically focused team with 8 year track record of shareho
Slide 3: Corporate Overview
Corporate Overview OPERATING SUMMARY 2025 Average Production (light oil & liquids %) 8,650 – 9,150 boe/d (55% - 57%)(1) 2025 Hz Drilling Plans 8.0 – 9.0 net 2023 Reserves Proved Developed Producing 17.3 Mmboe Total Proved Reserves 45.9 Mmboe 63% oil & NGL Total Proved and Probable Reserves 61.6 Mmbo
Slide 4: Management and Directors
Management and Directors Management Directors Strong Technically and Value Creators Experienced Industry Board Doug Bartole, P. Eng., ICD.D Doug Bartole, P. Eng., ICD.D President and CEO, Director Regan Davis, P. Eng., ICD.D Kevin Yakiwchuk, MSc., P. Geol. Joan Dunne, FCPA, FCA, ICD.D Vice President
Slide 5: Track Record
8 Year Track Record Historical track record of Per Share Growth, Free Cash Flow and Debt Reduction Production(1) 70,000 Reserves 11,000 120 Production/sh (boe/d/mm shares) Liquids (bbl) PDP 700 10,000 TPP / share (boe/m shares) 110 60,000 TP 9,000 Gas (boe) 100 600 Production (boe/d) TPP Reserves (M
Slide 6: 2023 Year End Reserves & Efficiency Highlights
2023 Year End Reserves & Efficiency Highlights Reserve Highlights Reserves NPV BT10% NAV BT10% RLI (Mboe) ($000s) ($/share)(3) (yrs) Proved Developed(1) 18,295 $260,898 $2.63 5.6 Total Proved 45,919 $571,097 $6.07 13.9 Total Proved + Probable 61,594 $823,589 $8.87 18.7 Significant NPV despite weaker
Slide 7: IPO Consistently Providing Top-Tier Efficiencies in Finding Reserves and Adding Producing Barrels
IPO Consistently Providing Top-Tier Efficiencies in Finding Reserves and Adding Producing Barrels 3 Year Avg. PDP FDA & Recycle Ratios vs. Peers 3 Year Avg. TP FDA & Recycle Ratios vs. Peers IPO Capital Efficiencies Adding Producing boe/d 3 year average capital efficiency of $18,825 per boe/d The pe
Slide 8: Focused Asset Base
Focused Asset Base Drilling industry pacesetter horizontal wells and exceeding forecasted volumes InPlay Land InPlay Wells 85% Cardium Industry Cardium Wells ALBERTA production PEMBINA Edmonton WILLESDEN E. BASIN GREEN DUVERNAY PEMBINA Calgary Production(1): • Cardium ~3,950 boe/d (51% oil & NGL) •
Slide 9: History of Highly Accretive Successful Acquisitions
History of Highly Accretive Successful Acquisitions Pembina Acquisition (Q4 2020) Prairie Storm Acquisition (Q4 2021) ▪ Acquired in October 2020 ▪ Grew production from 190 boe/d to >4,000 boe/d ▪ Grew 1P NAV from $23MM to $108MM (370% growth) ▪ Key focus for next 24-month capital program ▪ Acquired
Slide 10: Pembina
Pembina Low risk drilling with quick payouts; well established field with large oil in place and low recovery factors Returned to our most prolific development area (PCU-7) in Q3 2024. Six well planned for 2025 InPlay Rights Cardium: 89 net drilling locations Cardium Vertical Cardium Horizontal • Se
Slide 11: Willesden Green
Willesden Green Dominant land position in the Willesden Green Cardium trend Low risk horizontal infill drilling in well established field with large oil in place and low recovery factors Quick payout drilling inventory 146 net drilling locations Two required facility upgrades in 2023 increased natur
Slide 12: Well Economics
Well Economics The Cardium and Belly River are well established plays providing some of the best low risk returns in the Western Canada Sedimentary Basin Pembina Cardium Willesden Green Cardium Belly River 1.0 Mile Hz 1.5 Mile Hz 1.0 Mile Hz 1.5 Mile Hz 1.0 Mile Hz Capex (mm) $2.65 $3.40 $2.65 $3.40
Slide 13: 2025 Forecast
2025 Forecast Commodity Price Assumptions 2025 Forecast WTI oil price (US$/bbl) $72.00 Edmonton par (C$/bbl) $97.15 AECO gas price ($/GJ) $1.90 Operational Forecast Average production (boe/d) (% liquids)(1) 8,650 – 9,150 (55% - 57%) (2) Operating netback ($/boe) $24.75 – $29.75 (3) Adjusted funds fl
Slide 14: Investment Summary
Investment Summary • Executing our strategy of managing a highly sustainable Company – Maximize FAFF – Smart, disciplined light oil production growth – Maintain clean balance sheet with low leverage ratios • 8 year track record of shareholder returns through various commodity price cycles • Operatio
Slide 15: Appendix
Appendix Ye INPLAY OIL 15
Slide 16: InPlay Team
InPlay Team Strong Technically and Value Creators Doug Bartole, President and CEO and Director, P. Eng., ICD.D (over 32 years) • Founder of InPlay; Founder, President and CEO of Vero Energy; VP Operations of True Energy; Management and Engineering roles at Husky Energy, Renaissance Energy and PanCan
Slide 17: East Basin Duvernay Shale
East Basin Duvernay Shale Huxley Duvernay Tmax Map (°C) 12,960 acres (100% WI) of Predominantly Crown Land in the Huxley Area – InPlay lands derisked via extensive industry activity directly offsetting • Long land tenure allows InPlay a measured pace of development • Large, contiguous land block fal
Slide 18: Risk Management Hedges (Derivative contracts)
Risk Management Hedges (Derivative contracts) Q2/26 – Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q4/26 Natural Gas AECO Swap (mcf/d) (1) 5,685 5,685 5,685 5,685 5,685 2,845 Hedged price ($AECO/mcf) $2.47 $2.47 $2.47 $2.47 $2.47 $2.55 Natural Gas AECO Costless Collar (mcf/d) (2) 6,635 2,845 2,845 2,845 2,845 - He
Slide 19: Slide Notes
Slide Notes Slide 2 1. 2025 Free adjusted funds flow, FAFF Yield, Dividend Yield, Net debt and Net debt to EBITDA are based on forecasted assumptions outlined in the “Forward Looking Information and Statements” in the Reader Advisories. Slide 3 1. 2025 production rates and drilling plans are based o
Slide 20: Slide Notes (continued)
Slide Notes (continued) Slide 11 1. See “Type Curves and Potential Recovery Estimates” under “Oil and Gas Advisories” in the Reader Advisories. 2. See “Drilling Locations” within “Oil and Gas Advisories” in the Reader Advisories. Slide 12 1. See “Type Curves and Potential Recovery Estimates” under “
Slide 21: Reader Advisories
Reader Advisories All amounts in this presentation are stated in Canadian dollars unless otherwise specified. Throughout this presentation, the terms Boe (barrels of oil equivalent) and Mmboe (millions of barrels of oil equivalent) are used. Such terms when used in isolation, may be misleading. In a
Slide 22: Reader Advisories (continued)
Reader Advisories (continued) Oil and Gas Advisories (cont’d) Net Present Value Estimates - It should not be assumed that the net present value of the estimated future net revenues of the reserves of InPlay included in this presentation represent the fair market value of the reserves. There is no as
Slide 23: Reader Advisories (continued)
Reader Advisories (continued) 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: Light and Light and Conventional Conventiona
Slide 24: Reader Advisories (continued)
Reader Advisories (continued) Non-GAAP and Other Financial Measures (cont’d) 3 mos. Ended 3 mos. Ended 9 mos. Ended 9 mos. Ended Sep 30/2024 Sep 30/2023 Sep 30/2024 Sep 30/2023 Revenue $000’s 34,217 46,672 113,674 131,735 Royalties $000’s (5,122) (5,387) (14,711) (16,178) Operating expenses $000’s (
Slide 25: Reader Advisories (continued)
Reader Advisories (continued) 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”, “
Slide 26: Reader Advisories (continued)
Reader Advisories (continued) Key Budget and Underlying Material Assumptions to FLI The key budget and underlying material assumptions used by the Company in the development of its 2024 guidance are as follows: Updated Previous Actuals Guidance Guidance Guidance FY 2023 FY 2025 FY 2024 FY 2024(1) WT
Slide 27: Reader Advisories (continued)
Reader Advisories (continued) Updated Previous Actuals Guidance Guidance Guidance FY 2023 FY 2025 FY 2024 FY 2024(1) Adjusted Funds Flow $ millions $92 $68 – $70 $70 – $73 $69 – $75 Interest $/boe 1.65 2.00 – 2.25 1.90 – 2.50 1.30 – 1.90 EBITDA $ millions $98 $75 – $77 $77 – $81 $74 – $80 Net Debt $
Slide 28: Contact Us
Contact Us Doug Bartole President and CEO 587.955.0632 DougB@InPlayOil.com #2000, 350 – 7th Avenue SW Calgary, AB T2P 3N9 www.inplayoil.com