I came across this press release today:
Canadian Overseas Petroleum Reports Second Quarter Results
CALGARY, Aug. 10, 2012 /CNW/ – Canadian Overseas Petroleum Limited (“COPL” or the “Company”) (XOP: TSX-V) announces its second quarter results for the three months and six months ended June 30, 2012. The Interim Financial Statements and Management’s Discussion and Analysis for the second quarter can be viewed on the company’s website at www.canoverseas.com or on SEDAR at www.sedar.com under the COPL listing.
That was the entire press release, with the usual About and Contact information below it. Here are my comments:
1. I understand the trend towards notice and access press releases, which basically entails companies advising they have issued a press release and letting you know where you can read it. It has numerous advantages, especially the cost of having to distribute a long quarterly report. Companies across the entire cap-range are using this new technique to cut down costs, including the richest man on the planet.
(Side Note – What Is A Notice And Access Press Release? – Notice and Access press releases give companies the option to stop sending full-text news releases and instead use paid PR wires to advise investors that new information is available on companies’ websites and provide direct links to the information.) Via IR Web Report
2. Canadian Overseas Petroleum, or any small cap for that matter, is not Berkshire Hathaway. If you want new investors to read your press releases, you absolutely have to get more descriptive in your headline. Tease us with some figures related to revenues, income, production, growth … anything to make investors want to pick your press release out of the pile and actually click through for more.
3. We now live in a social, interconnected world where your actual and prospective investors can “Like”, “Tweet”, “Retweet” and post compelling news with just one click. Give them a reason to get you and your news viral. I guarantee you that “Reports Second Quarter Results” doesn’t work for anybody with a market cap under $100 Million.
Press releases are an important component of investor relations for any small-cap company … make them count.
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