RE: Progress Report 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: Nawaralsaadi@yahoo.com, 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.
Regards,
Nawar