Delek Group Becomes Strategic Shareholder in InPlay Oil Corp.

InPlay Oil Corp. has strengthened its strategic position 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, represents a significant development in InPlay's growth strategy and introduces Delek as a strategic partner with substantial energy sector experience. The partnership extends beyond mere share ownership, as Delek gains the right to nominate two directors to InPlay's board, indicating a deep collaborative relationship between the two energy companies.

Doug Bartole, CEO of InPlay, expressed strong support for the new partnership, highlighting Delek's impressive track record in the energy sector. Delek's experience includes significant roles in Ithaca Energy and the development of the Mediterranean's largest natural gas field, expertise that InPlay expects to leverage in its own operations. This strategic alignment is particularly important for InPlay's position in the Western Canadian Sedimentary Basin, where the company focuses on sustainable oil and gas production. The partnership brings valuable technical knowledge and operational experience that could enhance InPlay's production efficiency and environmental performance in this key operating region.

The comprehensive agreement between InPlay and Delek includes detailed registration and investor rights provisions that ensure Delek's continued participation in InPlay's growth. These provisions grant Delek pre-emptive rights in future equity offerings, allowing the company to maintain its ownership percentage as InPlay pursues additional capital raising activities. This aspect of the arrangement demonstrates the long-term commitment both companies have made to their partnership and underscores Delek's intention to support InPlay's growth trajectory over an extended period. For additional information about this strategic development, visit https://ibn.fm/hGL6S.

InPlay Oil Corp. has built its reputation on a disciplined approach to capital investment and consistent returns to shareholders, operating a diverse portfolio of oil and natural gas assets focused on long-term value creation. The company's operational strategy emphasizes sustainable development practices while maintaining financial discipline. This new partnership with Delek represents a significant milestone in InPlay's corporate development, potentially accelerating the company's growth plans while bringing international energy expertise to its Canadian operations. More details about InPlay's corporate initiatives and operational focus can be found at https://www.inplayoil.com/.