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BRIEF-Inplay oil and Anderson Energy report strategic business combination

Sept 19 Inplay Oil Corp:

* Inplay oil corp. and Anderson Energy Inc. Announce strategic business combination, pembina cardium acquisition and "bought deal" financing

* Holders of shares of Inplay entitled to receive 0.1303 a share of new Inplay for each one Inplay share held

* Holders of common shares of anderson to continue to hold 1 new inplay share for each one anderson share held

* Commitment letter,term sheet for a pro forma $60 million credit facility to be provided upon closing of transactions and inplay financing

* New Inplay is planning to start a four well drilling program in 2016 targeting Cardium in Pembina region

* Board of directors of inplay and anderson have unanimously approved arrangement

* To acquire cardium light oil assets in Pembina region of alberta for total consideration of $47 million

* Has entered into an agreement to raise, on a private placement basis, $70.0 million in gross proceeds by way of a "bought deal" financing

* Based on Inplay financing price, implied price per Anderson share is $2.30

* Inplay and Anderson to combine under new name Inplay Oil corp.

* 2017 capital program is expected to consist of its high graded cardium inventory where it can achieve paybacks of under 1.5 years Source text for Eikon: Further company coverage:

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