SilverBow Resources mailed a letter to shareholders in connection with the Company’s 2024 Annual Meeting of Shareholders…The letter summarizes SilverBow’s observations on data recently disclosed by Kimmeridge Energy Management Company about Kimmeridge Texas Gas KTG, finding Kimmeridge’s own data demonstrates that: Kimmeridge significantly overvalues KTG; Kimmeridge’s proposal would have been massively dilutive to SilverBow shareholders; The KTG assets are of much lower quality than SilverBow’s, and the information KTG released shows it is pursuing a value-destructive, natural gas focused growth plan; Kimmeridge is continuing its proxy fight so that its compromised, conflicted nominees can force a combination that would destroy SilverBow shareholder value; and SilverBow’s highly qualified, independent director nominees will ensure that value is maximized for ALL SilverBow shareholders.
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