COVID-19 Updates

Regarding our 2020 Louisiana Energy Conference, due to the current restrictions on in-person meetings and travel, we have decided to conduct an online virtual Conference on May 27-28, 2020 and reschedule our regular event for May 25-28, 2021. A separate email with details will be issued soon.

To our clients and friends,

We are clearly living in an unprecedented time right now and Al Petrie Advisors wants to start by expressing our hope that you, your co-workers and all of your families and friends are safe and remain healthy. If anyone has been directly impacted by COVID-19, we offer our prayers and best wishes for a speedy recovery. Like all of you, we are monitoring and following the recommendations of the WHO and CDC in order to protect everyone in our firm, while ensuring the continuation of business.

The top priority at Al Petrie Advisors has always been serving the needs of our clients. As a consulting business, we remain fully equipped to work remotely and expect no disruption in our services. In these difficult times we look forward to helping our clients navigate their business challenges while continuing to provide each of you with any support that you may need.

We have spoken to many of you over the past few weeks concerning how to best communicate to investors and other stakeholders in a backdrop of continued uncertainty heading into the upcoming earnings reporting season. Clearly every company has unique issues, challenges and (potentially) opportunities in the current environment and no one understands exactly what lies ahead at this point. Having said that, all stakeholders are looking to management teams to provide information on how they are addressing the current environment, both financially and operationally.

The SEC has provided guidance for public companies when assessing COVID-19-related effects and disclosure obligations companies should consider. In addition, the SEC has publicly stated that an inability for public companies to timely file their periodic reports (including Form 10-Q) does not prevent issuers from issuing earnings releases and filing current reports on Form 8-K to disseminate material information to investors and are strongly encouraging issuers to do this as promptly as practicable.

Communications can be done in a number of unique and more personal ways beyond a traditional press release that are fully compliant with Regulation FD. We look forward to speaking with you about some alternatives that could ideally suit your company’s needs. Please reach out to Al at 504-258-9548 or al@alpetrie.com for more information.

Finally, at the bottom of this email we have provided you access to select resources regarding the current situation primarily from our friends at Jones Walker LLP. These resources not only address investor communications, but also provide guidance on other topics (application of recent federal legislation, force majeure considerations in Texas and shareholder activism in the current environment) that we believe could be helpful. If you have any specific questions, or would like to speak with a Jones Walker professional further about any of the matters referenced in these resources, please contact Dionne Rousseau at

drousseau@joneswalker.com or Asher Friend at afriend@joneswalker.com to be directed appropriately within the firm for assistance.

All the best,

The Al Petrie Advisors Team

Jones Walker LLP Resources

How to Hold a Virtual Annual Meeting During the COVID-19 Pandemic (April 2, 2020)

SEC Extends Reporting Exemptions and Issues COVID-19 Disclosure Guidance (March 31, 2020)

SEC Chairman Encourages Public Companies to Keep Investors Informed, SEC Chief Accountant Discusses COVID-19 Challenges (April 6, 2020)

With Effective Date of the FFCRA Looming, DOL Offers Answers to Pressing Paid Leave Questions (March 31, 2020)

CARES Act Healthcare Provisions: New and Expanded Tools for the Pandemic Crisis (March 31, 2020)

Treasury Department Releases CARES Act Guidance and Applications (March 31, 2020)

CARES Act Small Business Relief Summary - SBA Paycheck Protection Program and Other Programs (March 31, 2020)

In Coronavirus-Recovery, Haste Makes . . . Fraud, Waste, and Abuse? Managing False Claims Act Compliance Risk in the COVID-19 Crisis (April 9, 2020)

Temporary and Permanent Changes Made to the New Small Business Reorganization Act of 2019 as a Result of the Coronavirus Aid, Relief, and Economic Security Act Enacted March 27 (April 2, 2020)

Force Majeure Under Texas Law in the Time of COVID-19 (April 2, 2020)

Additional Resources

Harvard Law School > COVID-19 and Shareholder Activism - The Impact (March 31, 2020)

Harvard Law School > The Impact of COVID-19 on Shareholder Activism (April 12, 2020

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