OKLAHOMA CITY, July 15, 2013 /CNW/ - Equal Energy Ltd. (NYSE: EQU)
(TSX:EQU.TO) reported that Dell Chapman, Senior Vice-President Finance,
is retiring from the company, effective today.
"With the financial operations successfully transitioned from Calgary to
Oklahoma City, Dell has completed his role in the repositioning of
Equal Energy as a U.S.-based energy company. Dell has been a tremendous
asset to our team and we wish him all the best," said Don Klapko,
Equal's President and Chief Executive Officer.
As part of the planned transition, Equal is pleased to announce that
Scott Smalling, currently Vice-President and Chief Financial Officer,
has been named Senior Vice-President Finance and Chief Financial
Mr. Smalling joined Equal in its Oklahoma City office in February 2013.
He brings more than 12 years of experience in the oil and gas industry,
including skills in the areas of corporate finance, treasury and
investor relations. Mr. Smalling is a Chartered Financial Analyst and
earned a B.S. in Finance from Oklahoma State University.
"Scott has proved himself to be a valuable member of the executive team
since joining Equal. We look forward to his continuing contributions to
the company's success," added Mr. Klapko.
As previously disclosed, Equal officially relocated its corporate
headquarters to Oklahoma City on March 15, 2013. Following the
departure of Mr. Chapman, the Calgary staff has been reduced to one
full-time employee and three consultants. Equal expects to expense the
remainder of its relocation costs during the third quarter of 2013.
About Equal Energy:
Equal Energy is an oil and gas exploration and production company based
in Oklahoma City, Oklahoma. Our oil and gas assets are centered on the
Hunton liquids-rich natural gas property in Oklahoma. Our shares are
listed on the New York Stock Exchange and The Toronto Stock Exchange
under the symbol (EQU). Our convertible debentures are listed on the
Toronto Stock Exchange under the symbols EQU.DB.B.
Certain information in this press release constitutes forward-looking
statements under applicable securities law including statements
relating to the future expensing of general and administration costs.
Any statements that are contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by terms
such as "may," "should," "anticipate," "expects," "seeks" and similar
Forward-looking statements necessarily involve known and unknown risks,
such as risks associated with oil and gas production; marketing and
transportation; loss of markets; volatility of commodity prices;
currency and interest rate fluctuations; imprecision of reserve and
future production estimates; environmental risks; competition;
incorrect assessment of the value of acquisitions; failure to realize
the anticipated benefits of dispositions; inability to access
sufficient capital from internal and external sources; changes in
legislation, including but not limited to income tax, environmental
laws and regulatory matters. Readers are cautioned that the foregoing
list of factors is not exhaustive.
Readers are cautioned not to place undue reliance on forward-looking
statements as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ
materially from those anticipated forward looking statements contained
in this press release are expressly qualified by this cautionary
Additional information on these and other factors that could affect
Equal's operations or financial results are included in Equal's reports
on file with Canadian and U.S. securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.com), the SEC's website (www.sec.gov), Equal's website (www.equalenergy.ca) or by contacting Equal. Furthermore, the forward looking statements
contained in this press release are made as of the date of this press
release, and Equal does not undertake any obligation to update publicly
or to revise any of the included forward-looking statements, whether as
a result of new information, future events or otherwise, except as
expressly required by securities law.
SOURCE: Equal Energy Ltd.
For further information:
President and CEO
(403) 536-8373 or (877) 263-0262
Sr. VP Finance and CFO
(405) 242-6020 or (855) 513-7825