Delek Group Becomes Strategic Shareholder in InPlay Oil Corp.

InPlay Oil Corp. has advanced its strategic growth by welcoming Delek Group Ltd. as a new shareholder following Obsidian Energy Ltd.'s agreement to sell its 9.1 million common shares in InPlay to Delek. This transaction, scheduled to close in the first half of August 2025, introduces Delek as a strategic shareholder and grants it the right to nominate two directors to InPlay's board, establishing a strong partnership between the two energy companies. The arrangement signals Delek's confidence in InPlay's operations and future potential in the competitive energy sector.

Doug Bartole, CEO of InPlay, expressed enthusiasm about the collaboration, highlighting Delek's impressive track record in the energy sector, including its significant roles in Ithaca Energy and the development of the Mediterranean's largest natural gas field. This partnership is expected to bring valuable expertise and resources to InPlay, further solidifying its position in the Western Canadian Sedimentary Basin where it focuses on sustainable oil and gas production. The strategic alignment between the companies creates opportunities for knowledge transfer and operational enhancements that could accelerate InPlay's development initiatives.

The comprehensive agreement between InPlay and Delek includes registration and investor rights provisions, ensuring Delek's participation in future equity offerings through pre-emptive rights. This aspect of the deal underscores the long-term nature of the partnership and Delek's commitment to supporting InPlay's growth trajectory. The transaction structure demonstrates both companies' focus on sustainable development and value creation for shareholders. Additional details about the announcement are available at https://ibn.fm/hGL6S.

InPlay Oil Corp. maintains its reputation for disciplined capital investment and consistent returns to shareholders through operations centered around a diverse portfolio of oil and natural gas assets. The company's strategic approach aims for long-term value creation while navigating the evolving energy landscape. The partnership with Delek represents a significant milestone in InPlay's corporate development, potentially enhancing its operational capabilities and market positioning. Further information about InPlay and its initiatives can be found at https://www.inplayoil.com/.