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InPlay Oil (OTCQX:IPOOF) released its Q4 results and the 2018 reserves report. With a focus on the light-oil-weighted Cardium assets, the depressed Edmonton Par prices impacted the company.
Management is still patient with the optionality the Duvernay area represents. But, in the meantime, InPlay operates at higher costs compared to some similar producers.
The market values the company at a discount to my fair value estimate. But a few other Canadian oil and gas producers represent a more attractive investment opportunity.