International Petroleum Corporation Announces Commencement of Steam Injection at Blackrod Phase 1

International Petroleum Corporation (IPC), listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol IPCO, has announced a major technical milestone at its Blackrod Phase 1 development in Canada. Following significant progress throughout 2025, IPC commenced the first steam injection at the project on December 20, 2025, advancing preparations toward commercial production. The steam injection process will warm up the reservoir and initial wells ahead of anticipated first oil output. IPC continues to forecast first oil production in the third quarter of 2026—one quarter earlier than previously guided. The project remains on budget with a targeted growth capital expenditure of USD 850 million to reach first oil. IPC plans to share updated production forecasts and cash flow expectations at its upcoming Capital Markets Day on February 10, 2026. The Blackrod asset, wholly owned by IPC, contains substantial reserves and contingent resources with regulatory approval to produce up to 80,000 barrels of oil per day and is part of the company’s broader portfolio spanning Canada, Malaysia, and France. #InternationalPetroleum #BlackrodPhase1 #OilProduction #EnergyDevelopment #SlimScan #GrowthStocks #CANSLIM