11:02 AM EDT, 07/16/2025 (MT Newswires) -- InPlay Oil ( IPOOF ) on Wednesday said Obsidian Energy ( OBE ) has a non-binding agreement between itself and a third party for the sale of 9.1 million InPlay common shares held by Obsidian.

Obsidian has agreed to engage exclusively with the third party in respect of the sales transaction until Aug. 1. Due to this offer, Obsidian announced today that it will not launch its previously announced exchange offer to buy up to about $10 million of its common shares.

Shares of InPlay and Obsidian were last seen up 2.7% at $9.85 and down near 1% at $7.32, respectively, on the Toronto Stock Exchange.

Price: 9.85, Change: +0.26, Percent Change: +2.71