11:50 AM EST - Equal Energy Ltd. : received word that Montclair Energy, LLC had concerns about the ongoing strategic process being conducted by Equal’s Board of Directors. Montclair first expressed an interest in acquiring Equal Energy in February, 2013. Montclair's expression of interest followed the conclusion of the strategic review process carried out by the Equal Energy Board in 2012 that had failed to result in a sale transaction for the Company. Collectively, the principals of Montclair are the Company's largest shareholder and most of the Company's assets in the Hunton formation of Oklahoma (which constitute the principal assets of the Company) were initially explored, owned and operated by Montclair's principals. Equal Energy Ltd.
shares T.EQU are trading down $0.17 at $5.69.
