Equal Energy Strategic Alternatives Process was Successful

Equal Energy

announces that its strategic alternatives process was successful, resulting in a suitable option for the Company to consider.  Equal is presently pursuing exclusive negotiations with the party presenting this proposal. The exclusive negotiation and diligence period will continue until early December 2013, as the terms, conditions and structuring details of any potential transaction are being finalized. There can be no assurances or guarantees that these negotiations will result in a definitive agreement. Further updates in respect of the Company's strategic alternatives process can be expected in due course. 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. Forward-looking Statements: Certain information in this press release constitutes forward-looking statements under applicable securities law including statements relating to expected details of any potential transaction and Equal providing further updates