InPlay Oil Corp. provided production guidance for the year 2020. the company planned capital program is forecasted to result in 2020 annual average production of 5,300 to 5,500 boe/d (67% - 69% oil & liquids) delivering estimated organic annual production growth of 6% to 10%.

InPlay Oil Corp. drilled 13 (8.2 net) horizontal wells in 2019 primarily in the Willesden Green and Pembina areas, including 10 (5.2 net) extended reach horizontal (“ERH”) wells and 3 (3.0 net) one-mile horizontal wells. As announced in November of 2019, due to lower commodity prices than originally forecasted and more specifically, continued low natural gas liquids (“NGL”) pricing, prudently reduced 2019 capital program from $36 million to $32 million, in line with expected 2019 adjusted funds flow (“AFF”)(1), drilling 8.2 net horizontal wells instead of the originally planned 9.0 - 10.0 net horizontal wells. Due to InPlay's technical advancements, the three 100% Pembina horizontal wells drilled in the third quarter of 2019 achieved record drill times for one mile wells in Pembina averaging 4.4 days per well compared to 7.5 to 8.0 days during last drilling program in Pembina in 2017. The wells initially flowed for 7 to 10 days and then were placed on artificial lift. Due to operational issues (including erratic run times) the cleanup of the wells took a month longer than projected but are now producing at rates exceeding forecast with average per well initial production (“IP”) 30 day rates of 164 boe/d (97% light oil and liquids), average IP 60 day production rates of 179 boe/d (95% oil and liquids) and average IP 90 day production rates of 190 boe/d (94% light oil and liquids). Each of the wells has produced at their highest rates with no decline over the past month at an average per well rate of 226 boe/d (92 % oil and liquids). InPlay is highly encouraged by these strong production rates which, combined with a 25% reduction in average all-in well costs totaling $1.8 million, makes InPlay's Pembina inventory economically competitive with its Willesden Green assets.