InPlay Oil Corp. (TSX: IPO) is a Canadian independent oil and natural gas exploration and production company focused on developing light oil assets in Western Canada. The company operates primarily in the Willesden Green and Kaybob areas of Alberta, targeting light oil plays in the Cardium and Montney formations through horizontal drilling and multi-stage completions; it also produces associated natural gas and natural gas liquids (NGLs). InPlay markets its production to third-party aggregators and processors, with operations centered in Alberta, Canada. Founded in 2016 and headquartered in Calgary, Alberta, the company emphasizes efficient capital allocation to maximize returns on its inventory of low-risk drilling locations. Recent strategic developments include the completion of a strategic lands acquisition in the Willesden Green area in late 2024, expanding its high-quality Cardium inventory; ongoing debt reduction efforts achieving net debt levels below CAD 50 million as of mid-2025; and enhanced production guidance for 2025 projecting average quarterly output exceeding 4,500 boe per day, driven by new well tie-ins and optimized field performance.