Calgary, Alberta--(Newsfile Corp. - August 4, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE ) (NYSE American: OBE ) (" Obsidian Energy " or the " Company ") announced today that it has entered into a definitive agreement with Delek Group Ltd. (the " Purchaser ") pursuant to which the Purchaser has agreed to acquire the Company's common share position in InPlay Oil Corp. (" InPlay "), consisting of 9,139,784 InPlay common shares (" InPlay Shares ") and representing approximately 32.70% of the issued and outstanding InPlay Shares, for $10.00 per InPlay Share for an aggregate purchase price of $91,397,840, subject to certain adjustments described below (the " Disposition Transaction ").