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Equal Energy Ltd. Message Board

  • nawaralsaadi nawaralsaadi Mar 1, 2012 12:22 PM Flag

    Progress Reprot

    1. I have contacted the following institutional shareholders in the last 24 hours: Breithorn Capital Management, Helios Advisors, and Connor, Clark & Lunn. One of those firsm is a dead end, they are just quantitative investors with no interest in action, the other two I am still in discussions.

    2. I had another communication with the CFO Mr.Dell Chapman last evening, the only thing I can say, the feedback was slightly more positive.

    I reiterate if you are a shareholder, please get in touch with the company, and express your support for our initiative; sustained pressure, means sustained pressure; the company will listen.


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    • I am pleased to report that a 3rd institutional shareholder has indicated their backing for our efforts; with their support the number of shares backing our action for change has exceeded the 10% benchmark.

      Following this accomplishment, I have sent a new fax to the management and the board of directors reiterating our demands, and responding to some of the management counter arguments. I expect to hear back from them in the next few days.

      I continue to be encouraged by the continued support; again if you are a shareholder and would like to support our action, please email me at:, or contact the company directly. Also if you are in touch with shareholders that are not active on this board, please inform them of our initiative.

      Only sustainable and continued efforts will lead to the unlocking of the significant shareholder value embedded in Equal Energy shares.


      • 1 Reply to nawaralsaadi
      • Alistair Toward, PI Financial (3/5/12) "The probability of a takeout/restructuring has increased as the merits of Equal Energy Ltd.'s management's go-slow strategy are clearly going unrecognized by the market. We defend management’s achievements since taking control: Debt per share is down to ~$4.65 (from ~$8.50) with a ~60% increase in share count, while gas prices have declined 70%.. . .we maintain our Buy recommendation."

    • What is the best way to voice shareholder support? Your email or company's?


    • Just heard back, one of the three firms I mentioned is pretty much on board with our proposal, after they finish their internal review, they will get in touch with the company to pres for change.


    • I know of someone who controls over 700,000 shares of EQU. I can talk to him to join the action. my

    • A second institutional shareholder have expressed support for our initiative; they will press the management from their side. I have also contacted a large Canadian fund today, I am still waiting for a word back.

      I am also pleased to report that a VERY large private investor in the company has also expressed support for our efforts. I am still in talks with him to study the best options for the company going froward.

      In total, we have the support of 29 private shareholders, plus two institutional shareholders, those parties collectively present just under 3 million shares, or 8.5% of the outstanding shares.

      When we started this effort, some people probably thought that we have a little chance of success, it is increasingly likely that our efforts will yield fruit, as a matter of fact I have added to my investment in the last 24 hours. I am very encouraged by shareholders support, if you have not supported our effort yet, please do so by contacting me, or by contacting the company directly to express your support for our initiative.


    • In today's report, I don't have much to say in terms of new institutional shareholders joining, or individual shareholders (we have a couple more retail shareholders joining). I have also not heard back yet from the company regarding my latest letter to the board, I have noticed of late that management has been evasive.

      I am excited to say that this week I have introduced a new arrow in our quiver, I have contacted two fund manager contacts of mine and proposed to them buying Equal Energy stock and join me in my efforts to lobby the management, both of them are studying the company right now. I have also contacted four activist hedge funds (three in Canada and one in Europe), I am uncertain if those guys will join in, but I assure you if only one of them get involved, management will have hell descend on them, those guys are very aggressive and can easily take on a company the size of Equal.

      Finally, I am studying ways to involve the media, I am exploring a couple of leads there.