Doug Bartole, CEO and President of InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF), joins us to overview the key projects, the growth of production, reserves, and funds flow, and the successful acquisition of Prairie Storm Resources Corp in 2021, and how this is setting up the Company for a record year in 2022.
We start off with a review of InPlay’s Cardium oil and gas assets are located in West Central Alberta focused in the 2 key asset land packages at the Pembina and Willesden Green pools. There have already been 11 wells drilled into Pembia so far, with 3 having just been completed in Q1. There were also 2 wells completed in January at Wellesden Green, with 2 more slated to come online in March; making for the most active quarter in the Company’s history. The plan is to focus about 50/50 on the development of the 2 areas for the balance of 2022 with large growth in reserves and production planned, feeding record fund flows. We wrap up with some information on the management team and the financial strength of the balance sheet; with aggressive plans to keep paying down debt, the potential for more acquisitions, and the potential future return to shareholders through dividends or share buybacks as the year progresses.
If you have any further questions for Doug regarding InPlay Oil, then please email us at either Fleck@kereport or Shad@kereport.