Worldwide Petroleum Company Pronounces Outcomes of Regular Course Issuer Bid

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TORONTO, Feb. 17, 2025 (GLOBE NEWSWIRE) — Worldwide Petroleum Company (IPC or the Company) (TSX, Nasdaq Stockholm: IPCO) is happy to announce that IPC repurchased a complete of 313,424 IPC widespread shares (ISIN: CA46016U1084) in the course of the interval of February 10 to 14, 2025 beneath IPC’s regular course issuer bid / share repurchase program (NCIB).

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IPC’s NCIB, introduced on December 3, 2024, is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Fee Delegated Regulation (EU) No 2016/1052 (Protected Harbour Regulation) and the relevant guidelines and insurance policies of the Toronto Inventory Trade (TSX) and Nasdaq Stockholm and relevant Canadian and Swedish securities legal guidelines.

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In the course of the interval of February 10 to 14, 2025, IPC repurchased a complete of 237,064 IPC widespread shares on Nasdaq Stockholm. All of those share repurchases have been carried out by Pareto Securities AB on behalf of IPC.

A abstract and detailed breakdown of the transactions performed on Nasdaq Stockholm in the course of the interval of February 10 to 14, 2025 in line with article 5.3 of MAR and article 2.3 of the Protected Harbour Regulation is offered with this press launch on IPC’s web site: www.international-petroleum.com/news-and-media/press-releases.

Throughout the identical interval, IPC bought a complete of 76,360 IPC widespread shares on the TSX. All of those share repurchases have been carried out by ATB Securities Inc. on behalf of IPC.

All widespread shares repurchased by IPC beneath the NCIB might be cancelled. As at February 14, 2025, the entire variety of issued and excellent IPC widespread shares is 117,781,927 with voting rights, of which IPC holds 822,277 widespread shares in treasury.

Since December 5, 2024 as much as and together with February 14, 2025, a complete of two,923,051 IPC widespread shares have been repurchased beneath the NCIB by means of the amenities of the TSX and Nasdaq Stockholm. A most of seven,465,356 IPC widespread shares could also be repurchased over the interval of twelve months commencing December 5, 2024 and ending December 4, 2025, or till such earlier date because the NCIB is accomplished or terminated by IPC.

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Worldwide Petroleum Corp. (IPC) is a global oil and gasoline exploration and manufacturing firm with a top quality portfolio of property positioned in Canada, Malaysia and France, offering a strong basis for natural and inorganic progress. IPC is a member of the Lundin Group of Firms. IPC is integrated in Canada and IPC’s shares are listed on the Toronto Inventory Trade (TSX) and the Nasdaq Stockholm change beneath the image “IPCO”.

For additional info, please contact:

This info is info that Worldwide Petroleum Company is required to make public pursuant to the Swedish Monetary Devices Buying and selling Act. The knowledge was submitted for publication, by means of the contact individuals set out above, at 10:00 CET on February 17, 2025.

Ahead-Wanting Statements
This press launch accommodates statements and knowledge which represent “forward-looking statements” or “forward-looking info” (inside the that means of relevant securities laws). Such statements and knowledge (collectively, “forward-looking statements”) relate to future occasions, together with the Company’s future efficiency, enterprise prospects or alternatives. Precise outcomes could differ materially from these expressed or implied by forward-looking statements. The forward-looking statements contained on this press launch are expressly certified by this cautionary assertion. Ahead-looking statements converse solely as of the date of this press launch, except in any other case indicated. IPC doesn’t intend, and doesn’t assume any obligation, to replace these forward-looking statements, besides as required by relevant legal guidelines.

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All statements apart from statements of historic truth could also be forward-looking statements. Any statements that categorical or contain discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, steering, budgets, aims, assumptions or future occasions or efficiency (usually, however not at all times, utilizing phrases or phrases corresponding to “search”, “anticipate”, “plan”, “proceed”, “estimate”, “anticipate”, “could”, “will”, “undertaking”, “forecast”, “predict”, “potential”, “concentrating on”, “intend”, “may”, “may”, “ought to”, “consider”, “finances” and comparable expressions) are usually not statements of historic truth and could also be “forward-looking statements”. Ahead-looking statements embrace, however are usually not restricted to, statements with respect to: the power and willingness of IPC to proceed the NCIB, together with the variety of widespread shares to be acquired and cancelled and the timing of such purchases and cancellations; and the return of worth to IPC’s shareholders on account of any widespread share repurchases.

The forward-looking statements are based mostly on sure key expectations and assumptions made by IPC, together with expectations and assumptions regarding: prevailing commodity costs and forex change charges; relevant royalty charges and tax legal guidelines; rates of interest; future nicely manufacturing charges and reserve and contingent useful resource volumes; working prices; our means to take care of our present credit score scores; our means to realize our efficiency targets; the timing of receipt of regulatory approvals; the efficiency of present wells; the success obtained in drilling new wells; anticipated timing and outcomes of capital expenditures; the sufficiency of budgeted capital expenditures in finishing up deliberate actions; the timing, location and extent of future drilling operations; the profitable completion of acquisitions and inclinations and that we can implement our requirements, controls, procedures and insurance policies in respect of any acquisitions and understand the anticipated synergies on the anticipated timeline or in any respect; the advantages of acquisitions; the state of the financial system and the exploration and manufacturing enterprise within the jurisdictions through which IPC operates and globally; the provision and price of financing, labour and companies; our intention to finish share repurchases beneath our regular course issuer bid program, together with the funding of such share repurchases, present and future market circumstances, together with with respect to the worth of our widespread shares, and compliance with respect to relevant limitations beneath securities legal guidelines and rules and inventory change insurance policies; and the power to market crude oil, pure gasoline and pure gasoline liquids efficiently.

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Though IPC believes that the expectations and assumptions on which such forward-looking statements are based mostly are affordable, undue reliance shouldn’t be positioned on the forward-looking statements as a result of IPC may give no assurances that they’ll show to be appropriate. Since forward-looking statements tackle future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Precise outcomes may differ materially from these presently anticipated attributable to a lot of elements and dangers. These embrace, however are usually not restricted to: common international financial, market and enterprise circumstances; the dangers related to the oil and gasoline business normally corresponding to operational dangers in improvement, exploration and manufacturing; delays or adjustments in plans with respect to exploration or improvement tasks or capital expenditures; the uncertainty of estimates and projections referring to reserves, sources, manufacturing, revenues, prices and bills; well being, security and environmental dangers; commodity worth fluctuations; rate of interest and change fee fluctuations; advertising and transportation; lack of markets; environmental and climate-related dangers; competitors; innovation and cybersecurity dangers associated to our programs, together with our prices of addressing or mitigating such dangers; the power to draw, interact and retain expert workers; incorrect evaluation of the worth of acquisitions; failure to finish or understand the anticipated advantages of acquisitions or inclinations; the power to entry adequate capital from inside and exterior sources; failure to acquire required regulatory and different approvals; geopolitical conflicts, together with the warfare between Ukraine and Russia and the battle within the Center East, and their potential affect on, amongst different issues, international market circumstances; and adjustments in laws, together with however not restricted to tax legal guidelines, royalties and environmental rules. Readers are cautioned that the foregoing checklist of things isn’t exhaustive.

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Further info on these and different elements that might have an effect on IPC, or its operations or monetary outcomes, are included in IPC’s annual info type for the 12 months ended December 31, 2023 (See “Cautionary Assertion Relating to Ahead-Wanting Data”, “Dangers Components” and “Reserves and Sources Advisory” therein), within the administration’s dialogue and evaluation (MD&A) for the three months and 12 months ended December 31, 2024 (See “Cautionary Assertion Relating to Ahead-Wanting Data”, “Dangers Components” and “Reserves and Sources Advisory” therein) and different stories on file with relevant securities regulatory authorities, together with earlier monetary stories, administration’s dialogue and evaluation and materials change stories, which can be accessed by means of the SEDAR+ web site (www.sedarplus.ca) or IPC’s web site (www.international-petroleum.com).

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