8 May 2014quarterly activities report● Neutral
EQUAL ENERGY LTD. reported quarterly revenue of $20.1 million and net income of $5.8 million for the period ended 2014-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 May 2014quarterly activities report● Neutral
EQUAL ENERGY LTD. reported quarterly revenue of $20.1 million and net income of $5.8 million for the period ended 2014-03-31.
8 May 2014agm notice● Neutral
EQUAL ENERGY LTD. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
8 May 2014director interest notice● Neutral
EQUAL ENERGY LTD. President and CEO Donald Charles Klapko bought 924 shares on the open market at $5.68.
7 May 2014material agreement▼ BadMajor
Equal amended its gas processing agreement with Scissortail Energy (a Kinder Morgan subsidiary), which was due to end April 30, 2014. The term now runs to July 31, 2021 with a new pricing formula from August 1, 2014, expected to cut 2014 cash flow by about $1.3 million. The agreement covers over 90% of current gas production.
2 May 2014business combination▲ GoodMajor
Equal and Petroflow amended their December 2013 deal: the deadline to close moved from May 1 to July 31, 2014, and Equal will pay two US$0.05 per share dividends (one on May 28, 2014 to holders of record May 15, and one when the sale closes). The US$5.43 per share cash price is unchanged. The press release says the extension was granted because Petroflow has obtained financing commitments, and it also responds to Montclair's April 2014 releases criticising the deal.
2 May 2014agm notice● Neutral
EQUAL ENERGY LTD. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
7 Apr 2014director interest notice● Neutral
EQUAL ENERGY LTD. President and CEO Donald Charles Klapko bought 1,046 shares on the open market at $5.02.
7 Apr 2014director interest notice● Neutral
EQUAL ENERGY LTD. Senior VP and COO John S. Chimahusky bought 126 shares on the open market at $4.54.
7 Apr 2014director interest notice● Neutral
EQUAL ENERGY LTD. Senior VP & CFO Scott Smalling bought 117 shares on the open market at $4.54.
17 Mar 2014agm notice● Neutral
EQUAL ENERGY LTD. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
6 Mar 2014director interest notice● Neutral
EQUAL ENERGY LTD. Senior VP & CFO Scott Smalling bought 100 shares on the open market at $5.35.
6 Mar 2014director interest notice● Neutral
EQUAL ENERGY LTD. President and CEO Donald Charles Klapko bought 884 shares on the open market at $5.94.
6 Mar 2014director interest notice● Neutral
EQUAL ENERGY LTD. Senior VP and COO John S. Chimahusky bought 106 shares on the open market at $5.35.
21 Feb 2014director interest notice● Neutral
EQUAL ENERGY LTD. director Paul Kyle Travis bought 412 shares on the open market at $3.68.
7 Jan 2014director interest notice● Neutral
EQUAL ENERGY LTD. Senior VP and COO John S. Chimahusky bought 107 shares on the open market at $5.34.
7 Jan 2014director interest notice● Neutral
EQUAL ENERGY LTD. President and CEO Donald Charles Klapko bought 954 shares on the open market.
7 Jan 2014director interest notice● Neutral
EQUAL ENERGY LTD. VP & CFO Scott Smalling bought 99 shares on the open market at $5.34.
6 Jan 2014director interest notice● Neutral
EQUAL ENERGY LTD. director Victor Stanley Dusik bought 27 shares on the open market at $5.66.
3 Jan 2014director interest notice● Neutral
EQUAL ENERGY LTD. director Michael Edmond Doyle bought 30 shares on the open market at $5.66.
2 Jan 2014agm notice● Neutral
EQUAL ENERGY LTD. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
31 Dec 2013business combination● NeutralMajor
Equal filed a preliminary proxy for the special shareholder meeting (date still blank) to vote on the US$5.43 per share cash sale to Petroflow, with the board unanimously recommending a vote in favour. The proxy says the sale followed a review that began with Montclair's unsolicited US$4.00 per share proposal on February 27, 2013; Equal contacted 19 potential bidders, and two submitted final proposals, with Petroflow's judged superior to Montclair's. Shareholders who don't dissent would receive US$5.43 per share in cash less withholding taxes, reduced by any extra dividends declared before closing (the US$0.05 dividend paid December 20, 2013 is permitted). This is a draft, not final.
23 Dec 2013director interest notice● Neutral
EQUAL ENERGY LTD. director Michael Edmond Doyle bought 10,000 shares on the open market at $3.05.
23 Dec 2013director interest notice● Neutral
EQUAL ENERGY LTD. director Michael Edmond Doyle bought 112 shares on the open market.
23 Dec 2013director interest notice● Neutral
Michael Edmond Doyle became a EQUAL ENERGY LTD. director and company insider (initial ownership filing).
17 Dec 2013agm notice● Neutral
EQUAL ENERGY LTD. announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
17 Dec 2013business combination● Neutral
Equal told shareholders to take no action on a December 16, 2013 news release from Montclair Energy, LLC about the Petroflow deal. Equal says its process was extensive, competitive and fair, that a special committee reviewed all proposals including Montclair's, and that the board unanimously found Petroflow's US$5.43 offer to be the best value. This continues the Petroflow sale thread and adds Montclair as an opposing voice.
12 Dec 2013director interest notice● Neutral
EQUAL ENERGY LTD. President and CEO Donald Charles Klapko bought 4,732 shares on the open market.
12 Dec 2013director interest notice● Neutral
EQUAL ENERGY LTD. President and CEO Donald Charles Klapko bought 982 shares on the open market at $5.35.
12 Dec 2013director interest notice● Neutral
Donald Charles Klapko became a EQUAL ENERGY LTD. President and CEO and company insider (initial ownership filing).