Every quarter report it is a #$%$, this went wrong".
It will be interesting to see what went wrong in the latest report.
Will stock hit $5 before trading closes and earnings announcement?
up to $4.84 on 37K shares on monday 6/10.
looks like sellers are drying up, so whom ever is buying has to drive price up.
on 6/7 friday another 103,000 shares traded and stock ended at $4.72.
Very heavy week of trading. Something has to be brewing.
on 6/6 volume continues at 95K shares and stock at $4.58
now at 204,000 shares and up 10% for day
1 hour into trading on 6/3 monday 100K shares traded so far. Interesting volume action.
1 hour into trading today 5/31 and 75,000 shares traded so far. Thisis not the individual investor selling 1,000 share lots. Either Ansell buying/selling or one of the other big holders (DFA, Ancora or Morgan Dempsey) selling. Looks like Heartland Advisors is down to 91K shares, I think they were a 5% holder at one time.
stock got clocked after announcing quarterly news, yet today up 16% on big volume to $4.05.
Somebody knows something is up.
Patience is a virtue. It alwasy takes longer than you think. Look at Novus Energy. On December 4th 2012 they announced that they have retained "financial advisors to assist the Special Committee of the Board of Directors in exploring and evaluating a broad range of options to optimize shareholder value".
This was initiated by managment (not forced on them by shareholders).
Here it is late May and not a peep from company. Stock has fallen from over a $1 to .83 Does it really take 5+ months for somebody to kick the tires and make a decision?
The illogic of logic.
I bet management twist on the vote is as follows.
We had about 20 million who did not vote.
Those 20 million would be in favor of management.
So real vote total is 28-30 million for and 4-6 million against.
No change is needed as most shareholders agree with management.
2013-05-02
Purchase 2013-05-06
1:34 pm EQUAL ENERGY LTD. EQU Chimahusky John S.
(Senior VP and COO) 152 $3.752013-05-02
Purchase 2013-05-03
6:13 pm EQUAL ENERGY LTD. EQU Smalling Scott
(VP & CFO) 117 $3.75
2013-05-02
Purchase 2013-05-03
6:10 pm EQUAL ENERGY LTD. EQU Chapman Wendell Percy
(Senior VP and CFO) 940 $3.749
2013-05-02
Purchase 2013-05-03
6:07 pm EQUAL ENERGY LTD. EQU Klapko Donald Charles
(President and CEO
Director) 1,400 $3.75
Has to be some type of monthly purchase program. Small dollar amounts.
hazelrig was at one time a board of director for Equal
For the past two years company has been touting how great brazil was and they bought land next to existing plant and were going to double manufacturing size. Now it has gotten so bad that they are thinking of selling brazil operations.
I voted to "withhold" all boad of director votes just as a sign of dissatisfaction.
Also vote "no" on most of the proposals except for the auditor.
I think with the settlement that the other 5% holder has to vote YES on all the matters.
All the "non votes" do not count, so I am guessing that everything should pass.
Hopefully they will have some comments on "all the interested parties and why they had to hire two investment bankers to evaluate".
Keep us posted as soon as meeting is over.
It would take you a few days to really understand the convoluted formulas for executive compensation.
Looks like they bungled the first press release this morning. This one is FAR better. Key point is that "Equal has engaged in discussions with a number of potential suitors, including Montclair".
Looks like company is "in play". Next few weeks will be interesting to see who the bidders are.
W.Cobb Hazelrig was a Board member of Enterra till 2007
Montclair, W. Cobb Hazelrig and Frederick G. Wedell may be deemed to be participants in any proxy solicitations that may be made by Montclair. Mr. Hazelrig and Mr. Wedell own 100% of the equity interests in Montclair. Collectively Mr. Hazelrig and Mr. Wedell are the beneficial owners of approximately 1,700,000 common shares of Equal Energy, which equates to slightly less than 5% of the outstanding common shares of Equal Energy. Lampert Debt Advisors, an affiliate of Lampert Capital Markets, has been retained to serve as financial advisor to Montclair and its principals.
They didnt before with the other 5% group.
This group may have more clout (bigger war chest) so it will be interesting to see how they fight off this offer and what tactics they use.