Brief: American Resources And Sk Energy Deliver Letter To Board Of Directors Of Ring Energy Inc

Ring Energy

02/03/2020 14:28

March 2 (Reuters) - Simon Kukes:
    * AMERICAN RESOURCES AND SK ENERGY DELIVER LETTER TO BOARD
OF
DIRECTORS OF RING ENERGY, INC.
    * SIMON KUKES - WITH AMERICAN RESOURCES, HOLD A COMBINED
OWNERSHIP
INTEREST OF ABOUT 9.8% OF RING ENERGY
    * SIMON KUKES - BELIEVE ALL OPPORTUNITIES AVAILABLE TO RING
TO
FIND WAYS TO REDUCE DEBT, DELEVERAGE ASSETS, DIVEST NON-CORE
ASSETS, SHOULD BE EXPLORED
    * SIMON KUKES - BELIEVE RING SHOULD RECONSTITUTE ITS BOARD
IMMEDIATELY, APPOINTING AT LEAST TWO NEW DIRECTORS SELECTED BY
OUR INVESTMENT GROUP
    * SIMON KUKES - BELIEVE RING'S EXECUTIVE OFFICERS MUST BE
CENTRALLY LOCATED TO REDUCE COSTS, IMPROVE MANAGEMENT
INTERACTION AND OVERSIGHT
    * SIMON KUKES - BELIEVE THAT RING MUST IMMEDIATELY
CONSOLIDATE ALL
ITS DISPARATE OFFICES AND FAR-FLUNG MANAGEMENT TO ITS
HEADQUARTERS
    * SIMON KUKES- RING SHOULD CLOSE ITS OFFICE IN TULSA,
OKLAHOMA AS
SOON AS PRACTICABLE
    * SIMON KUKES-  BELIEVE THAT NORTHWEST SHELF ASSETS
(WISHBONE
ACQUISITION) SHOULD BE CORE FOCUS OF RING ENERGY GOING FORWARD
    * SIMON KUKES - BELIEVE RING MUST REFOCUS ITS INVESTOR
RELATIONS
AND PUBLIC COMMUNICATIONS STRATEGY
    * SIMON KUKES - BELIEVE ENGAGING A MAJOR MARKET INDEPENDENT
AUDIT
FIRM WOULD HELP RING ENERGY'S CREDIBILITY
    * SIMON KUKES - BELIEVE RING MUST AGGRESSIVELY PURSUE
LONG-TERM
STRATEGIES INCLUDING COMBINE WITH A DE-LEVERED E&P CO, SELL CO
TO A LARGER COMPETITOR

Source text for Eikon:  ID:nPn1cbPs2a 

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