International Petroleum Corporation Reports Significant Share Buybacks

International Petroleum Corporation Share Buyback Overview

International Petroleum Corporation (IPC) is making waves in the investment community with its recent announcement regarding share repurchases. The company, known for its significant presence in the oil and gas sector, has effectively utilized its normal course issuer bid (NCIB) to acquire shares during a specified period in January.

Details of the Share Repurchase Program

Between January 1 and January 10, IPC repurchased a remarkable total of 313,864 common shares under its NCIB. This step resonates with the corporation's strategic intent to enhance shareholder value. The shares were acquired across various platforms, including 206,000 from Nasdaq Stockholm and 107,864 from the Toronto Stock Exchange (TSX).

Execution by Authorized Dealers

All share repurchases executed by IPC were carried out through reputable financial institutions specifically authorized for this purpose. In Sweden, Pareto Securities AB was responsible for the share buybacks on Nasdaq Stockholm, ensuring compliance with local regulations and market standards.

Compliance with Regulations

IPC's actions align with both the EU’s Market Abuse Regulation and relevant Canadian and Swedish securities laws, demonstrating the company's commitment to ethical practices while pursuing shareholder interests. Careful adherence to these regulations reinforces investor confidence in the corporation's management strategies.

Future Shareholder Implications

The repurchased shares are set to be canceled, which will reduce the number of issued and outstanding shares. As of January 10, the outstanding shares amount to 119,169,471. IPC possesses an additional 424,020 shares held as treasury, reflecting its strategic maneuvering in the market.

Projected Capabilities

Further enhancing its strategy, IPC plans to repurchase a total of up to 7,465,356 shares over the upcoming twelve months until December 4. This move underlines IPC's ongoing commitment to maintaining shareholder value and reflects confidence in its financial health and market position.

About International Petroleum Corporation

International Petroleum Corporation is a leading player in the global oil and gas sector. With a well-diversified portfolio spanning Canada, Malaysia, and France, IPC capitalizes on both organic and inorganic growth opportunities. A member of the esteemed Lundin Group, IPC's presence on the Toronto Stock Exchange (TSX) and Nasdaq Stockholm as "IPCO" signifies its robust market engagement.

Contact for Further Information

For additional queries and detailed information regarding IPC's operations and potential investment opportunities, interested parties are encouraged to reach out to:

**Rebecca Gordon**
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Tel: +41 22 595 10 50

**Robert Eriksson**
Media Manager
Email: reriksson@rive6.ch
Tel: +46 701 11 26 15

Frequently Asked Questions

What is the purpose of IPC's share buyback program?

The share buyback program aims to enhance shareholder value by repurchasing common shares, thereby reducing the total shares outstanding.

How many shares did IPC repurchase recently?

IPC has repurchased a total of 313,864 common shares from January 1 to January 10, highlighting its focus on shareholder returns.

Who carried out the repurchase transactions on Nasdaq Stockholm?

The repurchase transactions on Nasdaq Stockholm were executed by Pareto Securities AB on behalf of IPC, ensuring adherence to market regulations.

What are the implications of canceling repurchased shares?

Cancelling the repurchased shares reduces the total number of issued shares, which can potentially increase the value per share for remaining shareholders.

When is IPC aiming to complete its current share buyback initiative?

The current share buyback initiative is planned to continue until December 4, indicating IPC's commitment to investing in its long-term growth.

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