Mr. Doug Bartole reports

INPLAY RECEIVES TSX APPROVAL TO RENEW ITS NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted InPlay Oil Corp.'s notice of intention to renew its normal course issuer bid for a further one-year term. The previous NCIB expired on Oct. 16, 2023. Pursuant to the company's previous NCIB, the company purchased in the open market through the facilities of the TSX and through other alternative Canadian trading platforms and cancelled an aggregate of 190,400 common shares of the company at an average price paid of $2.84 per common share.

Under the NCIB, InPlay may purchase for cancellation, from time to time, as InPlay considers advisable, up to a maximum of 6,637,064 common shares, which represent 10 per cent of the company's public float of 66,370,643 common shares as at Oct. 31, 2023. As of the same date, InPlay had 90,925,401 common shares issued and outstanding. Purchases of common shares may be made on the open market through the facilities of the TSX and through other alternative Canadian trading platforms at the prevailing market price at the time of such transaction. The actual number of common shares that may be purchased for cancellation and the timing of any such purchases will be determined by InPlay, subject to a maximum daily purchase limitation of 43,809 common shares which equates to 25 per cent of InPlay's average daily trading volume of 175,239 common shares for the six months ended Oct. 31, 2023. InPlay may make one block purchase per calendar week that exceeds the daily repurchase restrictions. Any common shares that are purchased by InPlay under the NCIB will be cancelled.

The NCIB will commence on Nov. 14, 2023, and will terminate on Nov. 13, 2024, or such earlier time as the NCIB is completed or terminated at the option of InPlay.

InPlay believes that renewing the NCIB is a prudent step in this volatile energy market environment, when, at times, the prevailing market price does not reflect the underlying value of its common shares. The timely repurchase of the company's common shares for cancellation represents confidence in the long-term prospects and sustainability of its business model. This reduction in share count adds per-share value to InPlay's shareholders and adds another tool to management's disciplined capital allocation strategy.

With the base dividend of 1.5 cents share per month, NCIB share repurchases and the company's continued efforts toward overall production-per-share growth, InPlay will be able to continue with its strategy of providing strong returns to shareholders.

About InPlay Oil Corp.

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares on the Toronto Stock Exchange under the symbol IPO and the OTCQX under the symbol IPOOF.

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