EQUASENS : BILAN SEMESTRIEL S2-2023 DU CONTRAT DE LIQUIDITE
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Equus Subsidiary, Morgan E&P, Secures $3 Million Term Loan to Advance Drilling and Work-Over Program in North Dakota's Williston Basin
Equus Total Return, Inc. Funding Announcement: Equus announced that its subsidiary, Morgan E&P, has secured a $3 million term loan to fund drilling operations in the Bakken Shale formation, aiming to enhance production and cash flow by developing existing non-producing wells.
Strategic Development Plans: The funding will allow Morgan to accelerate development opportunities in both operated and non-operated acreage, with expectations of increasing production volumes and strengthening Equus' energy portfolio strategy in one of North America's key oil-producing regions.
Equus Total Return, Inc. Announces Intent to Regain Compliance with NYSE Listing Standards Following Price Deficiency Notice
Equus Total Return, Inc. Compliance Issue: The company received a notice from the NYSE for not meeting the minimum average closing price requirement of $1.00 for its common stock over a 30-day period, but this deficiency does not currently affect its listing or trading status.
Plans to Regain Compliance: Equus intends to notify the NYSE by May 25, 2025, of its plan to address the stock price deficiency, potentially through a reverse stock split, and has a six-month period to regain compliance with the NYSE's standards.
Equus Announces Appointments of Fraser Atkinson as Chairman and John J. May as Director
New Appointments at Equus Total Return, Inc.: Fraser Atkinson has been appointed as the independent Chairman of the Board and John J. May as an independent director, effective immediately. Both will serve on various committees within the Fund.
John J. May's Background: Mr. May brings over 50 years of experience as a Chartered Accountant and has held significant roles in public and private companies, particularly in mining, energy, and oil and gas sectors. He is also involved with lobbying groups representing small and medium-sized businesses in the UK.
Equus Announces Third Quarter Net Asset Value
Financial Performance: Equus Total Return, Inc. reported a decrease in net assets to $40.2 million and a decline in net asset value per share from $3.66 to $2.96 as of September 30, 2024, primarily due to decreases in the fair value of its holdings in Morgan E&P and Equus Energy.
Market Influences: The declines in fair value were attributed to a significant drop in oil prices and decreased production from operational wells, with specific losses of $7.0 million for Morgan E&P and $2.0 million for Equus Energy during the third quarter of 2024.
Equus Subsidiary Morgan E&P Completes Two Horizontal Wells
EQUASENS : BILAN SEMESTRIEL S2-2023 DU CONTRAT DE LIQUIDITE
Equus Subsidiary, Morgan E&P, Secures $3 Million Term Loan to Advance Drilling and Work-Over Program in North Dakota's Williston Basin
Equus Total Return, Inc. Funding Announcement: Equus announced that its subsidiary, Morgan E&P, has secured a $3 million term loan to fund drilling operations in the Bakken Shale formation, aiming to enhance production and cash flow by developing existing non-producing wells.
Strategic Development Plans: The funding will allow Morgan to accelerate development opportunities in both operated and non-operated acreage, with expectations of increasing production volumes and strengthening Equus' energy portfolio strategy in one of North America's key oil-producing regions.
Equus Total Return, Inc. Announces Intent to Regain Compliance with NYSE Listing Standards Following Price Deficiency Notice
Equus Total Return, Inc. Compliance Issue: The company received a notice from the NYSE for not meeting the minimum average closing price requirement of $1.00 for its common stock over a 30-day period, but this deficiency does not currently affect its listing or trading status.
Plans to Regain Compliance: Equus intends to notify the NYSE by May 25, 2025, of its plan to address the stock price deficiency, potentially through a reverse stock split, and has a six-month period to regain compliance with the NYSE's standards.
Equus Announces Appointments of Fraser Atkinson as Chairman and John J. May as Director
New Appointments at Equus Total Return, Inc.: Fraser Atkinson has been appointed as the independent Chairman of the Board and John J. May as an independent director, effective immediately. Both will serve on various committees within the Fund.
John J. May's Background: Mr. May brings over 50 years of experience as a Chartered Accountant and has held significant roles in public and private companies, particularly in mining, energy, and oil and gas sectors. He is also involved with lobbying groups representing small and medium-sized businesses in the UK.
Equus Announces Third Quarter Net Asset Value
Financial Performance: Equus Total Return, Inc. reported a decrease in net assets to $40.2 million and a decline in net asset value per share from $3.66 to $2.96 as of September 30, 2024, primarily due to decreases in the fair value of its holdings in Morgan E&P and Equus Energy.
Market Influences: The declines in fair value were attributed to a significant drop in oil prices and decreased production from operational wells, with specific losses of $7.0 million for Morgan E&P and $2.0 million for Equus Energy during the third quarter of 2024.
Equus Subsidiary Morgan E&P Completes Two Horizontal Wells
EQUASENS : BILAN SEMESTRIEL S2-2023 DU CONTRAT DE LIQUIDITE
