Equal Energy Announces Initiation of a Strategic Review; Considering Sale of Assets

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Equal Energy (NYSE: EQU) announces that its Board of Directors has initiated a strategic review process to identify, examine and consider alternatives with the view to enhancing shareholder value. Strategic alternatives may include, but are not limited to, the sale of all or a portion of the Company's assets, the outright sale of the corporation, a merger or other business combination, a recapitalization, acquisitions, as well as continued execution of its business plan, or any combination thereof.

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