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InPlay Oil: The Price Is Still In Play For Market-Beating Returns

May 01, 2022 6:40 AM ETInPlay Oil Corp. (IPOOF), IPO:CA24 Comments
Brant Munro, CFA profile picture
Brant Munro, CFA


  • This stock priced for up to 100% returns.
  • With the ample free cash flow and low leverage, I expect dividends or share buybacks in the near term.
  • IPO has among the lowest Finding, Development & Acquisition Costs (FDA) per barrel and among the highest recycle ratios among its peer group.

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We shall refer to InPlay Oil Corp as InPlay herein. All figures in CAD unless otherwise noted.


I have written on this "deep value" investment that is InPlay Oil Corp. (OTCQX:IPOOF) a couple times

This article was written by

Brant Munro, CFA profile picture
I am always on the lookout for businesses that have a strong cash generating ability and a strong enough competitive advantage that I can be sure they will be around for the next decade, and at a price where I can be as sure as possible that I can achieve at least 15 percent annualized returns, or else companies whose price is deeply discounted from their asset base as long as its highly marketable. Im not one to shy away from takeover targets, provided the target still has a strong business that I would be okay with owning it even if the takeover did not go through. Since I began investing on my own 3 years ago I have achieved an annualized time weighted return of about 16 percent, and plan to continue to beat that hurdle as I learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of IPOOF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (24)

EnergyRealist profile picture
@Brant Munro, CFA you have the best articles on InPlay that I've found. Nice work! I've been working my sector comparative analysis below for 6 months all because I found myself with a huge InPlay position from loading at $0.70. Really this comp anaysis is to help me justify holding as InPlay has remained the cheapest quality Canadian oily (>50%) producer all through 2022, including the sector bottom last thursday. Thanks for sharing.
Based on their production, the stock seems fairly priced at the moment. If they do get their production up to 9000 BOEPD, the stock should follow it up, as long as the price of oil stays up. I don't see the rush to go out and buy at this point.
Brant Munro, CFA profile picture
@Short Dog current production and prices implies a ~20% FCF yield. The other companies that sport those yields are other small cap production companies.
@Brant Munro, CFA buy the dip or wait for next week to see where the market is going?
Playing this since $0.48 CAD...had some exits and entry along the way. Agree that is still has substantial room to grow...
jimmydean1066 profile picture
In it with 10k shares at a cost basis of $1.89. Going to pick up some more. Thanks for the article.
Brant Munro, CFA profile picture
@jnorwood18 i bought a bit more recently at $3.80 might offload shares later in the year if it breaks $5.00
Walt DeLong profile picture
Thanks, I just recently bought in, and plan to hold from $3.78 to $11 on the Canadian exchange, which is a 190% gain.
Brant Munro, CFA profile picture
@Walt DeLong nice i was able to buy in at $1.80 but have kept buying on the up and up.
Walt DeLong profile picture
@Brant Munro, CFA Do you like the PANR (PTHRF) story? There may be good upside there.
Brant Munro, CFA profile picture
@Walt DeLong thats a british E&P right?
ChasingHappiness profile picture
I like it too -
River18 profile picture
Nice article.
@River18 You and I seem to show up commenting on many of the same stocks. IPOOF and Yangarra are probably my two smallest size companies.
River18 profile picture
I have been in and out of YGR many times, and now I find myself not owning shares. Sold way too low, and now it ran away from me.
I now have 17 names in two portfolios, with 5 names overlapping in both accounts.
Brant Munro, CFA profile picture
@River18 thanks I own YGR too its been quite generous over the past year too.
You have a table listing some energy stocks above. One you list is Traverse Energy that went bankrupt several years ago. I would suggest you replace it with Yangarra ---YGR TSX . I hold both IPO and YGR among other junior energy names.
Brant Munro, CFA profile picture
@Pennydredful weird i actually was putting in YGR into the graph.
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