|                X | ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------|

|                                                                                                                                                                                                            |                                                                              |                                                             |   |   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|------------------------------------------------------------------|--------|--------|--------|
| For the fiscal year ended December 31, 2010                                                                                                                                                                     | Commission File Number 000-32115                                                  |
|  EQUAL ENERGY LTD.(Exact name of Registrant as specified in its charter)                                                                                                                                   |
|  Alberta, Canada(Province or other jurisdiction of incorporation or organization)                                                                                                                          |  1311(Primary Standard Industrial Classification Code Number(if applicable)) |  N/A(I.R.S. Employer Identification Number (if applicable)) |
|  Suite 2700, 500 – 4th Avenue S.W.Calgary, Alberta, CanadaT2P 2V6(403) 263-0262(Address and telephone number of Registrant’s principal executive offices)                                      |
|  CT Corporation System2610, 520 Pike StreetSeattle, Washington 98101(206) 622-4511(Name, address (including zip code) and telephone number (including area code)of agent for service in the United States) |
| Securities registered pursuant to Section 12(b) of the Act:                                                                                                                                                     |
| Title of each class                                                                                                                                                                                             |                                                                              | Name of each exchange on which registered                        |
| Common Shares                                                                                                                                                                                                   | New York Stock Exchange                                                           |
| Securities registered or to be registered pursuant to Section 12(g) of the Act: None                                                                                                                            |
| Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None                                                                                                                 |

----

----

----

----

|                       |                                                                                                                                                                                                                                                                                                                                                   |
|----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Exhibit No.                | Description                                                                                                                                                                                                                                                                                                                                            |
| Annual Information         |
| 99.1                       | Equal Energy Ltd. Annual Information Form for the year ended December 31, 2010.                                                                                                                                                                                                                                                                   |
| 99.2                       | Management’s Discussion and Analysis for year ended December 31, 2010.                                                                                                                                                                                                                                                                           |
| 99.3                       | Audited Consolidated Financial Statements of Equal Energy Ltd., including Management’s Report, the Auditors’ Reports.                                                                                                                                                                                                                 |
| 99.4                       | Reconciliation to Accounting Principles Generally Accepted in the United States of the Consolidated Financial Statements as at and for the years ended December 31, 2010 and 2009, including the Auditors’ Report thereon and the Auditors’ Report on the assessment of internal control over financial reporting as at December 31, 2010. |
|   Certifications |
| 99.5                       | Certification of the Chief Executive Officer pursuant to section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                 |
| 99.6                       | Certification of the Chief Financial Officer pursuant to section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                 |
| 99.7                       | Certification of the Chief Executive Officer pursuant to section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                 |
| 99.8                       | Certification of the Chief Financial Officer pursuant to section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                 |
|  Consents             |
| 99.9                       | Consent of KPMG LLP Chartered Accountants                                                                                                                                                                                                                                                                                                              |
| 99.10                      | Consent of McDaniel & Associates Consultants Ltd.                                                                                                                                                                                                                                                                                                  |
| 99.11                      | Consent of Haas Petroleum Engineering Services, Inc.                                                                                                                                                                                                                                                                                                   |
|                       |                                                                                                                                                                                                                                                                                                                                                   |

----