International Petroleum Corporation reported production results for the fourth quarter and full year ended December 31, 2023. During the fourth quarter of 2023, IPC?s assets delivered average net production of 49,600 boepd, in line with high-end guidance for the quarter. This was made possible by high operational performance across all of IPC?s assets as well as the production contribution from IPC?s 2023 investment program in Canada and France, notwithstanding some downtime from two production wells in Malaysia through Fourth Quarter which have now been worked-over and are back on-stream as of end January 2024.

Full year 2023 average net production of 51,100 boepd was a record high for IPC and on target with guidance of greater than 50,000 boepd.