open my $iplist_fh, '<', 'iplist.txt'
    or die "Can't read iplist.txt: $!\n";
my %text_for;
while ( <$iplist> ) {
    chomp;
    if ( m{ \A                               # line start
            ( \d{1,3} (?: \. \d{1,3} ){3} )  # IP address
            \s+ \| \s+                       # separator
            ( .* )                           # text
            \z                               # line end
          }xms ) {
        $text_for{$1} = $2;
    }
}
close $iplist_fh or die "Can't close??: $!\n";

##</code><code>##

my @ips_of_interest = qw( 127.0.0.1 10.0.1.51 );
foreach my $ip ( @ips_of_interest ) {
    print "IP is $ip\n";
    print "Text is $text_for{$ip}\n";
}