Equal Energy Ltd EQU

Response to the management

[Nawaralsaadi]

https://www.newswire.ca/en/story/1083321/the-shareholder-group-is-committed-to-enhancing-and-preserving-shareholder-value-at-equal-energy

Regards,

Nawar

[Fundspec]

In defense of management, most companies are trading at less than half there NAV in these terrible markets. Perhaps management has some good points yesterday. Building on IR, developing the field, reducing debt. Going forward will work well in favour of all shareholders. >

[Fundspec]

In defense of management, most companies are trading at less than half there NAV in these terrible markets. Perhaps management has some good points yesterday. Building on IR, developing the field, reducing debt. Going forward will work well in favour of all shareholders. >

[Rockefeller2012]

Two excellent and relevant points were however made in the shareholder activist press releases: 1. If accretive acquisitions are the name of the game, then it is more beneficial to repurchase shares at such a low valuation. Especially with the future dividend, less shares on the market means less cash flow going out.  2. Trying to run a company without leveraging your position is going to

[Nawaralsaadi]

According to TD Securities November 8th report the average Canadian E&P is trading at 144% of NAV and 11.5 EV/CF, Equal is trading at under 50% of NAV and under 4 times EV/CF. As for management reducing debt, it was due to our pressure that they undertook a strategic review and reduced debt in the first place and NOT at their own initiative (you can read many of my articles on the topic from