Middle East conflict triggers extreme oil price volatility, InPlay Oil maintains production guidance

⑴ InPlay Oil announced first-quarter revenue of 88.437 million Canadian dollars, operating income of 45.6 million Canadian dollars, and a net loss of 34.6 million Canadian dollars. ⑵ The company projects full-year capital expenditure of 66 million to 74 million Canadian dollars, full-year EBITDA of 165 million to 173 million Canadian dollars, and reiterates its 2026 annual production guidance at 18,600 to 19,200 barrels of oil equivalent per day. ⑶ The company stated that the Middle East conflict and related market uncertainty have triggered extreme and unprecedented volatility in oil and gas commodity prices. ⑷ The company believes that the supply gap, years of underinvestment, and limited global reserve additions collectively support a higher priced environment for quality crude oil. The company may further adjust subsequent capital plans based on changes in market conditions.