CALGARY, Alberta, March 19, 2013 /CNW/ - Equal Energy Ltd. (TSX: EQU)
(NYSE: EQU) today announced a settlement with Mr. Nawar Alsaadi and Dr.
Adam Goldstein resolving previous disagreements.
As disclosed in a press release dated January 24 2013, Equal filed a
suit against Mr. Alsaadi and Dr. Goldstein for allegedly violating
United States securities laws and certain publications and statements
they made concerning their views about Equal and its management.
Pursuant to the settlement agreement, without admitting or conceding
liability or wrongdoing, the shareholders have agreed to remove those
publications and refrain from publishing or republishing other similar
material. As a result, Equal will withdraw the pending suit.
Don Klapko, Equal's President and Chief Executive Officer, said: "This
settlement enables Equal's board to move forward on governance
priorities and for management to fully concentrate on building value
for all shareholders with our balanced, prudent approach. We would like
to thank our shareholders for their continued support."
About Equal Energy:
Equal Energy is an oil and gas exploration and production company based
in Calgary, Alberta, with its United States operations office located
in Oklahoma City, Oklahoma. Our common shares and convertible
debentures are listed on the Toronto Stock Exchange under the symbols
(EQU, EQU.DB.B), and our common shares are listed on the New York Stock
Exchange under the symbol (EQU). Our oil and gas assets are centered on
the Hunton liquids-rich natural gas property in Oklahoma.
SOURCE: Equal Energy Ltd.
For further information:
President & CEO - Equal Energy Ltd.
(403) 536-8373 or (877) 263-0262