Stocks in play: International Petroleum Corporation

Announced the proposed acquisition of Cor4 Oil Corp. (Cor4) in Canada for asset consideration of approximately USD 62 million (CAD 84 million) (the Acquisition). The Acquisition includes total proved plus probable (2P) reserves of 15.9 million barrels of oil equivalent (MMboe) as at December 31, 2022.The assets to be acquired have forecast average net production of approximately 4,000 barrels of oil equivalent per day for 2023 and include an inventory of drilling locations, close to IPC’s current area of operations in southern Alberta. International Petroleum Corporation shares T.IPCO are trading down $0.13 at $13.63.

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