I am very disappointed in the last transaction however there is a small chance management does finally have a plan for the overall out come resulting in some real value. I think there will be other deals before EQU reaches 2.5. There is a lot of value left in the remaining holdings-also don't forget the the tax advantage that have value. It now depends on the prices that they can sell them for. There have been 2 sales and 1 was ok and the other could have been better but there is still all lot unknown.
Since the Net Asset Value increased about 25% from the debt reduction and the reserves and production were barely affected, one must conclude the problem with Equal undervaluation was not
addressed with the sale. IMHO the management that destroyed Enterra, orchastraded a disasterous Reverse Split and holds almost no equity themselves, refuses to do company publicity needs to be repalced to change the market perception of Equal.