Obsidian Energy Ltd. announced that a third party has made a non-binding offer to acquire its entire common share position in InPlay Oil Corp., consisting of 9,139,784 InPlay common shares, representing approximately 32.7 percent of the issued and outstanding InPlay Shares. The offer price per InPlay Share is in excess of the closing price on the Toronto Stock Exchange as of July 15, 2025, which was $9.59 per share.
Obsidian Energy has entered into negotiations with the third party and InPlay regarding this potential transaction and has agreed to an exclusivity period until August 1, 2025. This development indicates a potential monetization of a significant equity asset, which could further enhance Obsidian's financial flexibility.
As a result of this non-binding offer, Obsidian Energy will not launch its previously announced exchange offer to purchase its common shares from Canadian shareholders for consideration consisting of InPlay Shares. The company does not intend to issue further public updates until a definitive agreement is reached or the exclusivity period expires.
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