InPlay Oil Corp. Announces Completion of Delek Group's Acquisition of Obsidian Energy Shares, Appoints New Board Members.

InPlay Oil Corp. announces the closing of Delek Group Ltd.'s acquisition of InPlay common shares held by Obsidian Energy Ltd. InPlay has appointed Ehud (Udi) Erez and Tamir Polikar to its Board of Directors and Stephen Loukas and Peter Scott have stepped down. InPlay is a growth-oriented oil and gas producer focused on long-term value creation for its shareholders. Delek Group is an independent E&P and has a significant presence in the Levant Basin and the North Sea.

InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) has announced the closing of Delek Group Ltd.'s acquisition of 9,139,784 common shares in the capital of InPlay previously held by Obsidian Energy Ltd. (the "Transaction"). The acquisition, which was announced on August 3, 2025, and closed on August 7, 2025, marks a significant strategic move for InPlay as it looks to bolster its position in the Canadian oil and gas sector [1].

As part of the Transaction, InPlay has appointed Ehud (Udi) Erez and Tamir Polikar to its Board of Directors. Mr. Erez, who has served as the Chairman of the board of Delek since 2020, brings over 30 years of experience in the energy and real estate sectors. Mr. Polikar, who has served as the Chief Financial Officer of Delek since 2020, also brings extensive experience in the energy sector [2].

In connection with the closing of the Transaction, Stephen Loukas and Peter Scott have stepped down from the Board of InPlay. InPlay management and Board would like to thank Mr. Loukas and Mr. Scott for their contributions to the company and wish them continued success [1].

Delek Group, an independent E&P company, is a significant player in the Levant Basin and the North Sea. With major finds in the Levant Basin, including Leviathan (21.4 TCF) and Tamar (11.2 TCF no longer owned by Delek), Delek is leading the region's development into a major natural gas export hub. Additionally, Delek has a significant presence in the North Sea, with its subsidiary, Ithaca Energy (LSE: ITH) [2].

InPlay, a growth-oriented oil and gas producer, is focused on long-term value creation for its shareholders. The company's operations are centered in the Western Canadian Sedimentary Basin, where it holds a diverse portfolio of oil and natural gas assets. InPlay is committed to delivering strong per-share growth, maintaining a disciplined approach to capital investment, and providing consistent returns to shareholders [2].

The Transaction is expected to provide InPlay with access to Delek's extensive experience and expertise in the energy sector, potentially enhancing the company's operational performance and strategic growth opportunities. Delek's investment in InPlay reflects its confidence in the Canadian energy sector and InPlay's track record of strong operational performance and strategic acquisitions [1].

References:
[1] https://www.newswire.ca/news-releases/inplay-oil-corp-announces-closing-of-delek-group-ltd-s-acquisition-of-inplay-common-shares-801760760.html
[2] https://finance.yahoo.com/news/inplay-oil-corp-welcomes-delek-110000710.html