Equal Closes Sale of Royalty Assets; To Start Hunton Drilling Program in Early January
The strategic review is complete as far as the asset sales are concerned. A group of shareholders representing approx. 30% of the shares remains dissatisfied with the outcome. Management has hired and interposed a shareholder communications firm and will no longer deal with the group who demanded and caused the review in the first place.
I am reminded at this point of Winston Churchill's observation, "Now is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."
I guess they are employing the rope a dope strategy. Very effective. But on the other hand they are fullfilling the promise to provide improved and more frequent communications. It can not hurt to reach out to the investment community with well written PR statements. The management certainly had shown they were not capable. I listiened to Don and Co. last year during an industry conference presentation and was not impressed... in fact quite boring. Maybe this firm with present with more zeal. Lets see if the market starts to react positively.